California Public Employees Retirement System Decreases Position in MakeMyTrip Limited $MMYT

California Public Employees Retirement System trimmed its holdings in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 13.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 84,355 shares of the technology company’s stock after selling 13,000 shares during the period. California Public Employees Retirement System owned about 0.08% of MakeMyTrip worth $3,146,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MMYT. Royal Bank of Canada increased its holdings in shares of MakeMyTrip by 780.3% in the fourth quarter. Royal Bank of Canada now owns 2,274,679 shares of the technology company’s stock worth $186,797,000 after buying an additional 2,016,281 shares during the period. Capital Research Global Investors purchased a new position in MakeMyTrip in the 4th quarter worth approximately $150,069,000. Norges Bank bought a new stake in MakeMyTrip in the fourth quarter valued at approximately $90,284,000. Wasatch Advisors LP lifted its position in MakeMyTrip by 64.2% in the first quarter. Wasatch Advisors LP now owns 2,339,741 shares of the technology company’s stock valued at $87,249,000 after purchasing an additional 914,402 shares during the last quarter. Finally, Schroder Investment Management Group boosted its stake in shares of MakeMyTrip by 13.8% during the fourth quarter. Schroder Investment Management Group now owns 7,186,704 shares of the technology company’s stock valued at $590,172,000 after purchasing an additional 869,728 shares during the period. 51.89% of the stock is owned by institutional investors.

MakeMyTrip Stock Performance

Shares of MMYT stock opened at $49.23 on Monday. The firm has a market cap of $5.48 billion, a P/E ratio of 196.92 and a beta of 0.98. MakeMyTrip Limited has a fifty-two week low of $32.67 and a fifty-two week high of $104.43. The business’s 50 day moving average price is $49.24 and its 200-day moving average price is $51.80.

Analyst Ratings Changes

Several research analysts have recently issued reports on MMYT shares. Zacks Research upgraded shares of MakeMyTrip from a “strong sell” rating to a “strong-buy” rating in a report on Monday, July 20th. Wall Street Zen lowered shares of MakeMyTrip from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. The Goldman Sachs Group set a $84.00 price target on shares of MakeMyTrip in a research report on Saturday, June 27th. Citigroup reissued a “buy” rating on shares of MakeMyTrip in a report on Tuesday, May 19th. Finally, HSBC assumed coverage on shares of MakeMyTrip in a research report on Thursday, July 2nd. They issued a “buy” rating and a $70.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $86.75.

MakeMyTrip Company 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.