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

State of New Jersey Common Pension Fund D acquired a new stake in MakeMyTrip Limited (NASDAQ:MMYT) in the fourth quarter, HoldingsChannel reports. The firm acquired 118,628 shares of the technology company’s stock, valued at approximately $5,573,000.

Several other hedge funds have also added to or reduced their stakes in the business. FMR LLC raised its stake in shares of MakeMyTrip by 378.4% during the third quarter. FMR LLC now owns 2,620,190 shares of the technology company’s stock valued at $106,170,000 after acquiring an additional 2,072,504 shares during the last quarter. Baillie Gifford & Co. lifted its holdings in MakeMyTrip by 0.4% during the 4th quarter. Baillie Gifford & Co. now owns 2,284,324 shares of the technology company’s stock worth $107,318,000 after buying an additional 10,099 shares during the period. Artisan Partners Limited Partnership acquired a new stake in shares of MakeMyTrip in the third quarter valued at about $84,983,000. Invesco Ltd. raised its position in shares of MakeMyTrip by 5,372.8% during the third quarter. Invesco Ltd. now owns 974,489 shares of the technology company’s stock worth $39,486,000 after acquiring an additional 956,683 shares during the last quarter. Finally, American Century Companies Inc. acquired a new position in shares of MakeMyTrip in the third quarter worth approximately $22,602,000. 51.89% of the stock is currently owned by institutional investors and hedge funds.

MakeMyTrip Stock Performance

Shares of MakeMyTrip stock traded down $0.05 during trading hours on Friday, reaching $67.47. The company had a trading volume of 632,043 shares, compared to its average volume of 769,294. The business has a fifty day simple moving average of $64.70 and a 200 day simple moving average of $52.25. The firm has a market cap of $7.16 billion, a PE ratio of 146.78 and a beta of 1.23. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.53 and a quick ratio of 1.53. MakeMyTrip Limited has a one year low of $22.62 and a one year high of $77.30.

MakeMyTrip (NASDAQ:MMYT) last issued its quarterly earnings data on Tuesday, January 23rd. The technology company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.05. MakeMyTrip had a return on equity of 10.13% and a net margin of 6.93%. The company had revenue of $214.22 million for the quarter, compared to the consensus estimate of $210.01 million. On average, analysts anticipate that MakeMyTrip Limited will post 0.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MMYT. Macquarie lowered shares of MakeMyTrip from an “outperform” rating to a “neutral” rating and boosted their target price for the company from $50.00 to $60.00 in a report on Wednesday, February 21st. StockNews.com upgraded MakeMyTrip from a “sell” rating to a “hold” rating in a report on Wednesday, January 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.