State of New Jersey Common Pension Fund D Sells 24,386 Shares of MakeMyTrip Limited $MMYT

State of New Jersey Common Pension Fund D lowered its position in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 37.1% in the third quarter, HoldingsChannel reports. The firm owned 41,378 shares of the technology company’s stock after selling 24,386 shares during the period. State of New Jersey Common Pension Fund D’s holdings in MakeMyTrip were worth $3,873,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Schroder Investment Management Group increased its holdings in shares of MakeMyTrip by 42.4% during the second quarter. Schroder Investment Management Group now owns 5,628,019 shares of the technology company’s stock worth $551,658,000 after buying an additional 1,674,538 shares in the last quarter. Artisan Partners Limited Partnership raised its position in MakeMyTrip by 12.5% in the 2nd quarter. Artisan Partners Limited Partnership now owns 2,115,036 shares of the technology company’s stock valued at $207,316,000 after purchasing an additional 234,670 shares during the last quarter. Franklin Resources Inc. boosted its stake in MakeMyTrip by 30.0% in the second quarter. Franklin Resources Inc. now owns 2,042,793 shares of the technology company’s stock worth $200,235,000 after purchasing an additional 471,274 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of MakeMyTrip by 0.6% during the third quarter. Jennison Associates LLC now owns 1,861,604 shares of the technology company’s stock worth $174,246,000 after purchasing an additional 11,837 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of MakeMyTrip by 8.3% in the second quarter. American Century Companies Inc. now owns 1,447,280 shares of the technology company’s stock valued at $141,862,000 after buying an additional 111,272 shares in the last quarter. 51.89% of the stock is currently owned by institutional investors and hedge funds.

MakeMyTrip Stock Down 2.3%

Shares of NASDAQ:MMYT opened at $55.84 on Friday. The company has a 50 day moving average price of $72.01 and a two-hundred day moving average price of $82.94. The company has a debt-to-equity ratio of 38.85, a quick ratio of 1.85 and a current ratio of 1.85. The company has a market capitalization of $6.21 billion, a PE ratio of 116.33, a PEG ratio of 1.97 and a beta of 0.64. MakeMyTrip Limited has a 52 week low of $53.09 and a 52 week high of $113.85.

MakeMyTrip (NASDAQ:MMYT) last announced its quarterly earnings results on Wednesday, January 21st. The technology company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.09. MakeMyTrip had a net margin of 5.46% and a return on equity of 48.06%. The company had revenue of $295.70 million during the quarter, compared to analyst estimates of $306.29 million. Analysts forecast that MakeMyTrip Limited will post 1.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Citigroup reduced their target price on shares of MakeMyTrip from $108.00 to $96.00 and set a “buy” rating on the stock in a research report on Wednesday, January 21st. Bank of America reduced their target price on shares of MakeMyTrip from $115.00 to $113.00 and set a “buy” rating on the stock in a research note on Wednesday, December 24th. Weiss Ratings reissued a “hold (c)” rating on shares of MakeMyTrip in a research note on Tuesday, January 27th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of MakeMyTrip in a research note on Wednesday, December 31st. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.33.

MakeMyTrip Profile

MakeMyTrip Inc is an online travel company that provides a comprehensive suite of travel products and services through its website and mobile app platform. The company’s offerings include air ticketing, hotel reservations, holiday packages, rail and bus ticket bookings, ancillary travel services such as travel insurance and visa assistance, and corporate travel management solutions. By leveraging technology-driven platforms, MakeMyTrip aims to deliver convenience, competitive pricing, and a seamless booking experience for both retail and business customers.

Founded in June 2000 by Deep Kalra, MakeMyTrip has grown to become one of India’s leading travel technology firms.