Public Employees Retirement System of Ohio Invests $1.70 Million in MakeMyTrip Limited $MMYT

Public Employees Retirement System of Ohio acquired a new position in MakeMyTrip Limited (NASDAQ:MMYT) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 31,976 shares of the technology company’s stock, valued at approximately $1,704,000.

A number of other hedge funds also recently bought and sold shares of MMYT. Flossbach Von Storch SE bought a new position in MakeMyTrip in the second quarter valued at about $2,664,000. Wasatch Advisors LP increased its holdings in MakeMyTrip by 5.7% during the second quarter. Wasatch Advisors LP now owns 2,473,464 shares of the technology company’s stock valued at $131,811,000 after buying an additional 133,723 shares during the last quarter. Confluence Investment Management LLC bought a new position in MakeMyTrip in the second quarter worth approximately $249,000. Carmignac Gestion boosted its stake in shares of MakeMyTrip by 38.4% during the 1st quarter. Carmignac Gestion now owns 30,428 shares of the technology company’s stock worth $1,135,000 after acquiring an additional 8,435 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of MakeMyTrip by 23.8% during the 1st quarter. Janus Henderson Group PLC now owns 117,787 shares of the technology company’s stock worth $4,396,000 after acquiring an additional 22,622 shares during the last quarter. Hedge funds and other institutional investors own 51.89% of the company’s stock.

MakeMyTrip Price Performance

NASDAQ:MMYT opened at $55.62 on Monday. The business’s 50-day simple moving average is $57.58 and its two-hundred day simple moving average is $50.15. MakeMyTrip Limited has a 52 week low of $32.67 and a 52 week high of $103.24. The stock has a market cap of $5.23 billion, a PE ratio of 463.50 and a beta of 1.00.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. HSBC started coverage on MakeMyTrip in a research note on Thursday, July 2nd. They issued a “buy” rating and a $70.00 price objective for the company. Citigroup reissued a “buy” rating on shares of MakeMyTrip in a report on Tuesday, May 19th. The Goldman Sachs Group set a $84.00 price target on MakeMyTrip in a research report on Saturday, June 27th. Zacks Research downgraded MakeMyTrip from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 18th. Finally, Wall Street Zen cut MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Saturday, August 29th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $86.75.

About MakeMyTrip

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.