MakeMyTrip Limited (NASDAQ:MMYT) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D trimmed its holdings in MakeMyTrip Limited (NASDAQ:MMYT) by 31.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 95,886 shares of the technology company’s stock after selling 43,761 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in MakeMyTrip were worth $8,064,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its stake in MakeMyTrip by 163.5% in the first quarter. EverSource Wealth Advisors LLC now owns 535 shares of the technology company’s stock valued at $35,000 after purchasing an additional 332 shares during the period. Fifth Third Bancorp purchased a new position in shares of MakeMyTrip during the second quarter worth about $59,000. nVerses Capital LLC purchased a new stake in MakeMyTrip during the 2nd quarter valued at approximately $143,000. LRI Investments LLC purchased a new stake in MakeMyTrip during the 1st quarter valued at approximately $149,000. Finally, Catalytic Wealth RIA LLC purchased a new stake in MakeMyTrip during the 4th quarter valued at approximately $207,000. Hedge funds and other institutional investors own 51.89% of the company’s stock.

MakeMyTrip Stock Performance

NASDAQ MMYT opened at $102.79 on Friday. The company has a current ratio of 2.78, a quick ratio of 2.77 and a debt-to-equity ratio of 0.19. The business’s 50 day moving average is $92.97 and its two-hundred day moving average is $79.97. MakeMyTrip Limited has a 12-month low of $36.81 and a 12-month high of $104.35. The stock has a market capitalization of $11.28 billion, a price-to-earnings ratio of 61.55, a PEG ratio of 5.33 and a beta of 1.28.

MakeMyTrip (NASDAQ:MMYT) last released its earnings results on Tuesday, July 23rd. The technology company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.23. MakeMyTrip had a return on equity of 11.04% and a net margin of 26.11%. The company had revenue of $254.52 million for the quarter, compared to analysts’ expectations of $231.85 million. Research analysts expect that MakeMyTrip Limited will post 1.38 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on MMYT. StockNews.com raised MakeMyTrip from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th. Bank of America upped their price objective on MakeMyTrip from $100.00 to $112.00 and gave the company a “buy” rating in a research note on Tuesday, August 27th. Finally, Citigroup upped their price objective on MakeMyTrip from $93.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th.

MakeMyTrip Profile

MakeMyTrip Limited, an online travel company, sells travel products and solutions in India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, Peru, Colombia, Vietnam, and Indonesia. The company operates through three segments: Air Ticketing, Hotels and Packages, and Bus Ticketing.