MakeMyTrip Limited (NASDAQ:MMYT) Short Interest Down 9.3% in September

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MakeMyTrip Limited (NASDAQ:MMYT) was the target of a significant decrease in short interest during the month of September. As of September 30th, there was short interest totalling 2,740,000 shares, a decrease of 9.3% from the August 30th total of 3,020,000 shares. Based on an average daily trading volume, of 220,700 shares, the short-interest ratio is currently 12.4 days. Currently, 4.9% of the shares of the company are short sold.

MMYT stock traded up $0.58 during midday trading on Thursday, reaching $22.38. 167,261 shares of the company’s stock traded hands, compared to its average volume of 277,276. MakeMyTrip has a 52-week low of $19.66 and a 52-week high of $32.30. The stock has a market cap of $2.24 billion, a P/E ratio of -13.90 and a beta of 0.40. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.02. The stock’s 50-day moving average is $23.23 and its 200 day moving average is $24.79.

MakeMyTrip (NASDAQ:MMYT) last announced its earnings results on Tuesday, July 30th. The technology company reported ($0.41) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($0.21). The business had revenue of $198.50 million for the quarter, compared to analysts’ expectations of $183.94 million. MakeMyTrip had a negative net margin of 32.49% and a negative return on equity of 11.74%. The firm’s quarterly revenue was up 16.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.37) earnings per share. As a group, research analysts expect that MakeMyTrip will post -1.13 EPS for the current fiscal year.

A number of analysts have commented on the stock. Zacks Investment Research raised shares of MakeMyTrip from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Goldman Sachs Group set a $32.00 target price on shares of MakeMyTrip and gave the company a “buy” rating in a report on Monday, September 23rd. BidaskClub cut shares of MakeMyTrip from a “sell” rating to a “strong sell” rating in a report on Friday, September 27th. TheStreet cut shares of MakeMyTrip from a “c-” rating to a “d+” rating in a report on Tuesday, October 8th. Finally, ValuEngine cut shares of MakeMyTrip from a “buy” rating to a “hold” rating in a report on Thursday, August 15th. Two research 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 presently has an average rating of “Hold” and an average price target of $29.50.

Several institutional investors and hedge funds have recently bought and sold shares of the business. Brown Advisory Inc. boosted its position in shares of MakeMyTrip by 18.7% in the second quarter. Brown Advisory Inc. now owns 2,607,430 shares of the technology company’s stock worth $64,664,000 after purchasing an additional 411,306 shares during the period. Wasatch Advisors Inc. boosted its position in shares of MakeMyTrip by 7.6% in the second quarter. Wasatch Advisors Inc. now owns 2,244,401 shares of the technology company’s stock worth $55,661,000 after purchasing an additional 157,753 shares during the period. Morgan Stanley boosted its position in shares of MakeMyTrip by 1.4% in the second quarter. Morgan Stanley now owns 892,747 shares of the technology company’s stock worth $22,140,000 after purchasing an additional 12,545 shares during the period. New Silk Road Investment PTE Ltd. boosted its position in shares of MakeMyTrip by 2.7% in the second quarter. New Silk Road Investment PTE Ltd. now owns 727,972 shares of the technology company’s stock worth $18,054,000 after purchasing an additional 18,879 shares during the period. Finally, GW&K Investment Management LLC boosted its position in shares of MakeMyTrip by 2.7% in the second quarter. GW&K Investment Management LLC now owns 484,139 shares of the technology company’s stock worth $12,007,000 after purchasing an additional 12,513 shares during the period. Institutional investors and hedge funds own 43.90% of the company’s stock.

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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