Short Interest in MakeMyTrip Limited (NASDAQ:MMYT) Decreases By 16.2%

MakeMyTrip Limited (NASDAQ:MMYT - Get Free Report) was the target of a significant decrease in short interest in the month of April. As of April 15th, there was short interest totalling 2,490,000 shares, a decrease of 16.2% from the March 31st total of 2,970,000 shares. Approximately 2.5% of the company's shares are sold short. Based on an average daily trading volume, of 882,200 shares, the short-interest ratio is presently 2.8 days.

Institutional Investors Weigh In On MakeMyTrip

Hedge funds have recently modified their holdings of the stock. USA Financial Formulas purchased a new position in MakeMyTrip during the fourth quarter worth approximately $35,000. Steward Partners Investment Advisory LLC raised its position in shares of MakeMyTrip by 41.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 379 shares of the technology company's stock worth $43,000 after buying an additional 111 shares during the period. Parallel Advisors LLC boosted its holdings in MakeMyTrip by 1,014.9% in the first quarter. Parallel Advisors LLC now owns 524 shares of the technology company's stock valued at $51,000 after acquiring an additional 477 shares during the last quarter. Signaturefd LLC purchased a new stake in MakeMyTrip during the fourth quarter valued at about $74,000. Finally, Gen Wealth Partners Inc increased its stake in MakeMyTrip by 29.5% during the fourth quarter. Gen Wealth Partners Inc now owns 725 shares of the technology company's stock worth $81,000 after acquiring an additional 165 shares during the last quarter. 51.89% of the stock is owned by institutional investors and hedge funds.

MakeMyTrip Trading Up 0.6 %

NASDAQ:MMYT traded up $0.71 during mid-day trading on Monday, reaching $113.21. The company's stock had a trading volume of 371,294 shares, compared to its average volume of 714,091. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.88 and a quick ratio of 2.88. The stock has a market cap of $12.43 billion, a P/E ratio of 61.53, a P/E/G ratio of 6.56 and a beta of 0.92. The company's fifty day simple moving average is $98.33 and its two-hundred day simple moving average is $105.16. MakeMyTrip has a twelve month low of $69.81 and a twelve month high of $123.00.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of MakeMyTrip from a "hold" rating to a "sell" rating in a research note on Friday, January 24th.

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.