MercadoLibre, Inc. (NASDAQ:MELI) Short Interest Update

MercadoLibre, Inc. (NASDAQ:MELI) was the recipient of a significant drop in short interest in the month of December. As of December 15th, there was short interest totalling 663,100 shares, a drop of 18.8% from the November 30th total of 816,200 shares. Approximately 1.4% of the shares of the company are short sold. Based on an average trading volume of 430,400 shares, the short-interest ratio is currently 1.5 days.

Analyst Upgrades and Downgrades

MELI has been the subject of a number of analyst reports. BTIG Research cut their price objective on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Citigroup cut their price target on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Morgan Stanley decreased their price target on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Bank of America lifted their price objective on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Finally, Raymond James initiated coverage on MercadoLibre in a research note on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 target price on the stock. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus price target of $2,267.67.

MercadoLibre Trading Down 0.2 %

Shares of MELI traded down $3.67 during mid-day trading on Monday, reaching $1,721.80. The company’s stock had a trading volume of 241,780 shares, compared to its average volume of 373,357. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. MercadoLibre has a 52 week low of $1,324.99 and a 52 week high of $2,161.73. The company’s fifty day moving average price is $1,931.36 and its two-hundred day moving average price is $1,890.03. The stock has a market cap of $87.29 billion, a PE ratio of 60.76, a P/E/G ratio of 1.24 and a beta of 1.57.

Insider Activity

In related news, Director Emiliano Calemzuk sold 50 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the sale, the director now owns 238 shares of the company’s stock, valued at approximately $472,425.24. This represents a 17.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.06% of the stock is owned by company insiders.

Institutional Trading of MercadoLibre

Institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio purchased a new stake in MercadoLibre during the 3rd quarter valued at about $114,417,000. KBC Group NV lifted its position in MercadoLibre by 205.5% in the third quarter. KBC Group NV now owns 26,279 shares of the company’s stock valued at $53,923,000 after purchasing an additional 17,677 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of MercadoLibre by 20.9% during the third quarter. Principal Financial Group Inc. now owns 59,430 shares of the company’s stock valued at $121,948,000 after purchasing an additional 10,272 shares during the period. Y Intercept Hong Kong Ltd grew its holdings in shares of MercadoLibre by 40.0% in the third quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company’s stock worth $5,598,000 after purchasing an additional 780 shares during the last quarter. Finally, Caprock Group LLC increased its stake in shares of MercadoLibre by 143.7% in the second quarter. Caprock Group LLC now owns 580 shares of the company’s stock worth $955,000 after buying an additional 342 shares during the period. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Company Profile

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.