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

MakeMyTrip Limited (NASDAQ:MMYT) was the target of 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 presently 3.6 days.

Institutional Trading of MakeMyTrip

Several institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC lifted its holdings in shares of MakeMyTrip by 163.5% during the first quarter. EverSource Wealth Advisors LLC now owns 535 shares of the technology company’s stock valued at $35,000 after acquiring an additional 332 shares during the period. Fifth Third Bancorp acquired a new stake in shares of MakeMyTrip during the 2nd quarter worth about $59,000. nVerses Capital LLC bought a new position in MakeMyTrip during the 2nd quarter valued at about $143,000. LRI Investments LLC acquired a new position in MakeMyTrip in the first quarter valued at about $149,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in MakeMyTrip during the second quarter worth about $269,000. Institutional investors and hedge funds own 51.89% of the company’s stock.

MakeMyTrip Trading Up 1.5 %

Shares of MMYT stock opened at $102.79 on Monday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.77 and a current ratio of 2.78. The firm has a fifty day moving average of $92.97 and a 200-day moving average of $80.12. MakeMyTrip has a 52-week low of $36.81 and a 52-week high of $104.35. The stock has a market cap of $11.28 billion, a price-to-earnings ratio of 61.55, a P/E/G ratio of 5.33 and a beta of 1.28.

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

Analyst Ratings Changes

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

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.