State of New Jersey Common Pension Fund D Invests $5.57 Million in MakeMyTrip Limited (NASDAQ:MMYT)

State of New Jersey Common Pension Fund D purchased a new position in shares of MakeMyTrip Limited (NASDAQ:MMYT) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 118,628 shares of the technology company’s stock, valued at approximately $5,573,000. State of New Jersey Common Pension Fund D owned approximately 0.11% of MakeMyTrip at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Banque Cantonale Vaudoise raised its holdings in shares of MakeMyTrip by 449.8% in the third quarter. Banque Cantonale Vaudoise now owns 3,398 shares of the technology company’s stock valued at $138,000 after buying an additional 2,780 shares during the last quarter. NewEdge Wealth LLC purchased a new stake in shares of MakeMyTrip during the third quarter worth approximately $288,000. Vestmark Advisory Solutions Inc. acquired a new stake in shares of MakeMyTrip during the third quarter worth $288,000. Clough Capital Partners L P purchased a new position in MakeMyTrip in the 3rd quarter valued at $290,000. Finally, CoreCap Advisors LLC acquired a new position in MakeMyTrip in the 4th quarter valued at $298,000. 51.89% of the stock is owned by hedge funds and other institutional investors.

MakeMyTrip Price Performance

MMYT stock traded down $0.05 during trading on Friday, reaching $67.47. 632,043 shares of the company were exchanged, compared to its average volume of 769,294. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.53 and a current ratio of 1.53. The stock’s 50 day moving average price is $64.70 and its 200 day moving average price is $52.25. MakeMyTrip Limited has a 52-week low of $22.62 and a 52-week high of $77.30. The company has a market cap of $7.16 billion, a P/E ratio of 146.78 and a beta of 1.23.

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MMYT. Macquarie lowered shares of MakeMyTrip from an “outperform” rating to a “neutral” rating and boosted their price target for the stock from $50.00 to $60.00 in a research note on Wednesday, February 21st. StockNews.com upgraded MakeMyTrip from a “sell” rating to a “hold” rating in a research report on Wednesday, January 24th.

About MakeMyTrip

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.