MakeMyTrip Limited $MMYT Position Boosted by New York State Common Retirement Fund

New York State Common Retirement Fund increased its position in MakeMyTrip Limited (NASDAQ:MMYT) by 45.3% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 62,088 shares of the technology company’s stock after purchasing an additional 19,348 shares during the period. New York State Common Retirement Fund owned 0.06% of MakeMyTrip worth $5,811,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Federated Hermes Inc. grew its position in shares of MakeMyTrip by 145.2% in the 3rd quarter. Federated Hermes Inc. now owns 375,093 shares of the technology company’s stock worth $35,109,000 after acquiring an additional 222,098 shares in the last quarter. LBP AM SA raised its position in shares of MakeMyTrip by 10.0% during the 3rd quarter. LBP AM SA now owns 31,193 shares of the technology company’s stock valued at $2,920,000 after acquiring an additional 2,843 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in MakeMyTrip during the third quarter worth $1,417,000. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in MakeMyTrip by 505.3% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 509,939 shares of the technology company’s stock worth $47,730,000 after purchasing an additional 425,690 shares during the period. Finally, Jennison Associates LLC increased its stake in MakeMyTrip by 0.6% during the third quarter. Jennison Associates LLC now owns 1,861,604 shares of the technology company’s stock valued at $174,246,000 after purchasing an additional 11,837 shares during the last quarter. Institutional investors and hedge funds own 51.89% of the company’s stock.

Analysts Set New Price Targets

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

MakeMyTrip Stock Performance

MMYT opened at $57.09 on Friday. The business’s 50 day moving average is $75.11 and its 200-day moving average is $85.74. The stock has a market cap of $6.35 billion, a PE ratio of 118.94, a price-to-earnings-growth ratio of 1.91 and a beta of 0.64. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 38.85. MakeMyTrip Limited has a twelve month low of $53.09 and a twelve month high of $120.19.

MakeMyTrip (NASDAQ:MMYT) last posted its earnings results on Wednesday, January 21st. The technology company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.43 by $0.09. The firm had revenue of $295.70 million for the quarter, compared to analysts’ expectations of $306.29 million. MakeMyTrip had a return on equity of 48.06% and a net margin of 5.46%. On average, analysts predict that MakeMyTrip Limited will post 1.27 earnings per share for the current year.

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.