MakeMyTrip Limited (NASDAQ:MMYT) was the target of a significant drop in short interest in the month of April. As of April 28th, there was short interest totalling 3,062,838 shares, a drop of 1.3% from the April 13th total of 3,104,293 shares. Based on an average trading volume of 221,761 shares, the days-to-cover ratio is presently 13.8 days.
MakeMyTrip Limited (NASDAQ MMYT) traded up 5.10% on Monday, hitting $31.95. 476,891 shares of the company traded hands. The firm’s 50 day moving average price is $34.24 and its 200 day moving average price is $31.92. The firm’s market capitalization is $2.49 billion. MakeMyTrip Limited has a 1-year low of $13.69 and a 1-year high of $40.90.
Hedge funds have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of MakeMyTrip Limited during the first quarter worth approximately $202,000. Credit Suisse AG acquired a new stake in shares of MakeMyTrip Limited during the first quarter worth approximately $242,000. KCG Holdings Inc. purchased a new position in MakeMyTrip Limited during the first quarter worth about $280,000. Levin Capital Strategies L.P. purchased a new position in MakeMyTrip Limited during the first quarter worth about $311,000. Finally, Meru Capital Group LP purchased a new position in MakeMyTrip Limited during the fourth quarter worth about $222,000. 42.12% of the stock is owned by institutional investors.
A number of equities research analysts have issued reports on the stock. BidaskClub downgraded shares of MakeMyTrip Limited from a “hold” rating to a “sell” rating in a research note on Saturday, June 10th. ValuEngine upgraded shares of MakeMyTrip Limited from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research downgraded shares of MakeMyTrip Limited from a “buy” rating to a “hold” rating in a research report on Tuesday, May 23rd. Finally, Nomura reaffirmed a “reduce” rating on shares of MakeMyTrip Limited in a report on Tuesday, February 21st. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $29.90.
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MakeMyTrip Limited Company Profile
MakeMyTrip Limited is an online travel company in India. The Company’s services and products include air ticketing, hotels, packages, rail tickets, bus tickets, car hire and ancillary travel requirements, such as facilitating access to third-party travel insurance and visa processing. Its segments include Air ticketing, which provides the facility to book international and domestic air tickets through an Internet-based platform; Hotels and packages, which provides holiday packages and hotel reservations through an Internet-based platform, call-centers and branch offices, and Others, which include advertisement income from hosting advertisements on its Internet Web-sites, income from sale of rail and bus tickets and income from facilitating Website access to a travel insurance company.
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