MakeMyTrip Limited $MMYT Shares Sold by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in MakeMyTrip Limited by 13.0% in the first quarter, selling 9,476 shares and now holding 63,236 shares valued at approximately $6.2 million.
• Institutional investors and hedge funds own 51.89% of MakeMyTrip's stock, reflecting significant investment interest in the company.
• Recent analyst ratings show a mix of changes: Macquarie upgraded MakeMyTrip to "outperform" with a $110.00 price target, while Citigroup lowered its target from $125.00 to $120.00 with a "buy" rating.

State of New Jersey Common Pension Fund D cut its stake in shares of MakeMyTrip Limited (NASDAQ:MMYT - Free Report) by 13.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 63,236 shares of the technology company's stock after selling 9,476 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.06% of MakeMyTrip worth $6,196,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Stone House Investment Management LLC acquired a new position in shares of MakeMyTrip in the first quarter valued at approximately $49,000. Parallel Advisors LLC grew its holdings in MakeMyTrip by 1,014.9% during the 1st quarter. Parallel Advisors LLC now owns 524 shares of the technology company's stock worth $51,000 after acquiring an additional 477 shares during the period. Gen Wealth Partners Inc grew its stake in shares of MakeMyTrip by 29.5% in the 4th quarter. Gen Wealth Partners Inc now owns 725 shares of the technology company's stock valued at $81,000 after buying an additional 165 shares during the period. Signaturefd LLC grew its stake in shares of MakeMyTrip by 40.9% in the 1st quarter. Signaturefd LLC now owns 930 shares of the technology company's stock valued at $91,000 after buying an additional 270 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. bought a new position in MakeMyTrip in the 1st quarter valued at about $107,000. 51.89% of the stock is currently owned by institutional investors.

MakeMyTrip Stock Performance

Shares of NASDAQ:MMYT traded up $2.35 during midday trading on Friday, reaching $103.21. The company's stock had a trading volume of 613,692 shares, compared to its average volume of 892,828. The firm has a market capitalization of $11.48 billion, a PE ratio of 120.01 and a beta of 0.86. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 18.35. The stock has a fifty day moving average of $96.12 and a 200 day moving average of $99.23. MakeMyTrip Limited has a twelve month low of $81.84 and a twelve month high of $123.00.

Wall Street Analysts Forecast Growth

MMYT has been the subject of a number of recent analyst reports. Citigroup reduced their price target on shares of MakeMyTrip from $125.00 to $120.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Macquarie raised shares of MakeMyTrip from a "neutral" rating to an "outperform" rating and set a $110.00 price target for the company in a research report on Tuesday, June 24th. Finally, Wall Street Zen downgraded shares of MakeMyTrip from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $120.00.

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.