MakeMyTrip Limited (NASDAQ:MMYT – Get Free Report) was the recipient of a large drop in short interest in August. As of August 31st, there was short interest totalling 2,390,000 shares, a drop of 21.1% from the August 15th total of 3,030,000 shares. Based on an average daily trading volume, of 662,200 shares, the short-interest ratio is currently 3.6 days.
Analysts Set New Price Targets
Several analysts have recently issued reports on the stock. Bank of America lifted their target price on shares of MakeMyTrip from $100.00 to $112.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. Citigroup lifted their price objective on MakeMyTrip from $93.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, StockNews.com raised MakeMyTrip from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th.
Institutional Investors Weigh In On MakeMyTrip
Hedge funds and other institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC increased its position in MakeMyTrip by 163.5% during the first quarter. EverSource Wealth Advisors LLC now owns 535 shares of the technology company’s stock worth $35,000 after purchasing an additional 332 shares during the last quarter. Fifth Third Bancorp purchased a new stake in shares of MakeMyTrip in the 2nd quarter valued at approximately $59,000. nVerses Capital LLC acquired a new stake in shares of MakeMyTrip during the 2nd quarter worth approximately $143,000. LRI Investments LLC purchased a new stake in shares of MakeMyTrip during the 1st quarter valued at approximately $149,000. Finally, Catalytic Wealth RIA LLC acquired a new position in MakeMyTrip in the fourth quarter valued at approximately $207,000. Institutional investors and hedge funds own 51.89% of the company’s stock.
MakeMyTrip Price Performance
Shares of NASDAQ MMYT traded up $1.56 during mid-day trading on Friday, reaching $102.79. The company’s stock had a trading volume of 478,558 shares, compared to its average volume of 736,665. The stock has a 50-day moving average of $92.97 and a two-hundred day moving average of $79.97. 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 stock has a market capitalization of $11.28 billion, a P/E ratio of 61.55, a P/E/G ratio of 5.33 and a beta of 1.28. MakeMyTrip has a 1-year low of $36.81 and a 1-year high of $104.35.
MakeMyTrip (NASDAQ:MMYT – Get Free Report) last released its quarterly earnings data on Tuesday, July 23rd. The technology company reported $0.32 EPS for the quarter, beating 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%. On average, equities research analysts anticipate that MakeMyTrip will post 1.38 EPS for the current fiscal year.
About MakeMyTrip
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.