MakeMyTrip Limited (NASDAQ:MMYT) Sees Significant Growth in Short Interest

MakeMyTrip Limited (NASDAQ:MMYT) saw a large increase in short interest during the month of July. As of July 31st, there was short interest totalling 3,016,500 shares, an increase of 5.3% from the June 30th total of 2,863,400 shares. Based on an average trading volume of 261,800 shares, the short-interest ratio is currently 11.5 days. Currently, 5.7% of the shares of the stock are sold short.

Large investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC lifted its holdings in MakeMyTrip by 309.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,015 shares of the technology company’s stock worth $25,000 after buying an additional 767 shares in the last quarter. BlackRock Inc. lifted its holdings in MakeMyTrip by 20.5% during the 4th quarter. BlackRock Inc. now owns 4,977 shares of the technology company’s stock worth $121,000 after buying an additional 847 shares in the last quarter. Parametrica Management Ltd acquired a new stake in MakeMyTrip during the 1st quarter worth approximately $274,000. Bellecapital International Ltd. lifted its holdings in MakeMyTrip by 4.6% during the 2nd quarter. Bellecapital International Ltd. now owns 11,866 shares of the technology company’s stock worth $294,000 after buying an additional 522 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in MakeMyTrip during the 2nd quarter worth approximately $320,000. 43.09% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have commented on MMYT. ValuEngine downgraded shares of MakeMyTrip from a “buy” rating to a “hold” rating in a report on Thursday. Bank of America set a $24.00 price objective on shares of MakeMyTrip and gave the company a “sell” rating in a report on Monday, May 20th. Zacks Investment Research upgraded shares of MakeMyTrip from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, BidaskClub downgraded shares of MakeMyTrip from a “sell” rating to a “strong sell” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $29.75.

Shares of MakeMyTrip stock traded up $0.21 during mid-day trading on Friday, hitting $21.43. The stock had a trading volume of 609,922 shares, compared to its average volume of 297,820. The firm has a 50-day moving average of $25.80 and a two-hundred day moving average of $26.29. MakeMyTrip has a 12-month low of $19.66 and a 12-month high of $32.30. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.02. The firm has a market cap of $2.27 billion, a P/E ratio of -13.31 and a beta of 0.35.

MakeMyTrip (NASDAQ:MMYT) last posted its quarterly earnings results on Tuesday, July 30th. The technology company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.21). MakeMyTrip had a negative net margin of 32.49% and a negative return on equity of 11.74%. The firm had revenue of $198.50 million during the quarter, compared to analysts’ expectations of $183.94 million. During the same period last year, the company earned ($0.37) EPS. The business’s quarterly revenue was up 16.7% on a year-over-year basis. Sell-side analysts expect that MakeMyTrip will post -1.12 earnings per share for the current year.

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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