MakeMyTrip Limited (NASDAQ:MMYT) Short Interest Down 21.1% in August

MakeMyTrip Limited (NASDAQ:MMYT) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 2,390,000 shares, a decline of 21.1% from the August 15th total of 3,030,000 shares. Based on an average trading volume of 662,200 shares, the days-to-cover ratio is currently 3.6 days.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. StockNews.com raised shares of MakeMyTrip from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th. Bank of America boosted their price target on MakeMyTrip from $100.00 to $112.00 and gave the company a “buy” rating in a research note on Tuesday, August 27th. Finally, Citigroup raised their price objective on MakeMyTrip from $93.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th.

Institutional Investors Weigh In On MakeMyTrip

Large investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC boosted its stake in shares of MakeMyTrip by 163.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 535 shares of the technology company’s stock valued at $35,000 after purchasing an additional 332 shares in the last quarter. Fifth Third Bancorp acquired a new stake in MakeMyTrip in the second quarter valued at approximately $59,000. nVerses Capital LLC acquired a new stake in MakeMyTrip in the second quarter valued at approximately $143,000. LRI Investments LLC bought a new stake in shares of MakeMyTrip during the first quarter worth $149,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of MakeMyTrip during the second quarter worth $269,000. Institutional investors and hedge funds own 51.89% of the company’s stock.

MakeMyTrip Price Performance

MMYT traded up $0.92 on Tuesday, hitting $104.29. 445,412 shares of the stock were exchanged, compared to its average volume of 733,904. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.78 and a quick ratio of 2.77. MakeMyTrip has a 12 month low of $36.81 and a 12 month high of $105.79. The firm has a market capitalization of $11.45 billion, a price-to-earnings ratio of 62.45, a PEG ratio of 5.33 and a beta of 1.28. The business has a 50-day moving average of $93.57 and a two-hundred day moving average of $80.71.

MakeMyTrip (NASDAQ:MMYT) last issued its quarterly earnings results on Tuesday, July 23rd. The technology company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.23. The company had revenue of $254.52 million during the quarter, compared to the consensus estimate of $231.85 million. MakeMyTrip had a net margin of 26.11% and a return on equity of 11.04%. Sell-side analysts forecast that MakeMyTrip will post 1.38 EPS for the current fiscal year.

MakeMyTrip Company Profile

MakeMyTrip Limited, an online travel company, sells travel products and solutions in India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, Peru, Colombia, Vietnam, and Indonesia. The company operates through three segments: Air Ticketing, Hotels and Packages, and Bus Ticketing.