California Public Employees Retirement System increased its stake in MakeMyTrip Limited (NASDAQ:MMYT) by 24.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 52,672 shares of the technology company’s stock after acquiring an additional 10,372 shares during the quarter. California Public Employees Retirement System owned about 0.05% of MakeMyTrip worth $1,282,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. Capital Research Global Investors acquired a new position in MakeMyTrip in the third quarter valued at approximately $79,676,000. Capital International Investors acquired a new position in MakeMyTrip in the third quarter valued at approximately $39,977,000. William Blair Investment Management LLC lifted its stake in MakeMyTrip by 4.1% in the third quarter. William Blair Investment Management LLC now owns 1,021,932 shares of the technology company’s stock valued at $28,052,000 after buying an additional 40,295 shares during the period. Morgan Stanley lifted its stake in MakeMyTrip by 21.2% in the third quarter. Morgan Stanley now owns 893,821 shares of the technology company’s stock valued at $24,535,000 after buying an additional 156,059 shares during the period. Finally, MARSHALL WACE ASIA Ltd acquired a new position in MakeMyTrip in the third quarter valued at approximately $21,634,000. 45.71% of the stock is currently owned by institutional investors.
Several equities analysts have issued reports on MMYT shares. ValuEngine raised MakeMyTrip from a “hold” rating to a “buy” rating in a research note on Thursday, December 27th. Zacks Investment Research raised MakeMyTrip from a “sell” rating to a “hold” rating in a research report on Saturday, January 26th. BidaskClub lowered MakeMyTrip from a “buy” rating to a “hold” rating in a research report on Friday, March 15th. Finally, TheStreet raised MakeMyTrip from a “d-” rating to a “c-” rating in a research report on Monday, January 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $30.56.
MakeMyTrip (NASDAQ:MMYT) last announced its quarterly earnings results on Thursday, January 24th. The technology company reported ($0.28) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.40) by $0.12. MakeMyTrip had a negative return on equity of 10.90% and a negative net margin of 32.53%. The business had revenue of $179.90 million during the quarter, compared to the consensus estimate of $165.51 million. During the same quarter in the prior year, the company posted ($0.30) earnings per share. MakeMyTrip’s revenue was up 18.8% compared to the same quarter last year. As a group, research analysts anticipate that MakeMyTrip Limited will post -1.55 EPS for the current year.
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MakeMyTrip Company Profile
MakeMyTrip Limited, an online travel company, engages in the business of selling travel products and solutions in India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, China, Colombia, and Peru. It operates through two segments, Air Ticketing, and Hotels and Packages. The company's services and products include air tickets, hotels, packages, rail tickets, bus tickets, and car hire, as well as ancillary travel requirements, such as facilitating access to travel insurance and visa processing.
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