MercadoLibre, Inc. (NASDAQ:MELI) Sees Significant Growth in Short Interest

MercadoLibre, Inc. (NASDAQ:MELI) was the recipient of a large growth in short interest during the month of February. As of February 27th, there was short interest totaling 891,079 shares, a growth of 14.8% from the February 12th total of 776,095 shares. Based on an average daily trading volume, of 639,650 shares, the short-interest ratio is currently 1.4 days. Approximately 1.8% of the company’s shares are sold short. Approximately 1.8% of the company’s shares are sold short. Based on an average daily trading volume, of 639,650 shares, the short-interest ratio is currently 1.4 days.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MELI. Barclays lowered their price objective on MercadoLibre from $2,900.00 to $2,600.00 and set an “overweight” rating for the company in a research report on Wednesday, February 25th. JPMorgan Chase & Co. lowered shares of MercadoLibre from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $2,650.00 to $2,100.00 in a report on Thursday, March 12th. Wedbush dropped their price target on shares of MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. Weiss Ratings lowered shares of MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, January 8th. Finally, Cantor Fitzgerald decreased their price objective on shares of MercadoLibre from $2,750.00 to $2,400.00 and set an “overweight” rating for the company in a research report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and an average target price of $2,725.33.

MercadoLibre Stock Down 0.6%

Shares of NASDAQ:MELI traded down $10.01 during midday trading on Tuesday, hitting $1,722.32. 236,908 shares of the company’s stock were exchanged, compared to its average volume of 616,808. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.17 and a quick ratio of 1.15. MercadoLibre has a 12 month low of $1,631.18 and a 12 month high of $2,645.22. The company has a market cap of $87.32 billion, a PE ratio of 43.60, a price-to-earnings-growth ratio of 0.89 and a beta of 1.48. The stock has a 50 day moving average price of $1,987.89 and a 200-day moving average price of $2,110.20.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $11.03 earnings per share for the quarter, missing the consensus estimate of $11.66 by ($0.63). The business had revenue of $8.76 billion during the quarter, compared to the consensus estimate of $8.45 billion. MercadoLibre had a net margin of 6.91% and a return on equity of 33.73%. MercadoLibre’s revenue was up 44.6% compared to the same quarter last year. During the same period in the previous year, the business posted $12.61 EPS. On average, sell-side analysts anticipate that MercadoLibre will post 43.96 EPS for the current fiscal year.

Hedge Funds Weigh In On MercadoLibre

Several large investors have recently bought and sold shares of the stock. Bison Wealth LLC bought a new position in MercadoLibre in the 4th quarter valued at $206,000. Empowered Funds LLC raised its stake in shares of MercadoLibre by 6.9% during the 1st quarter. Empowered Funds LLC now owns 760 shares of the company’s stock worth $1,483,000 after purchasing an additional 49 shares during the period. Focus Partners Wealth boosted its holdings in shares of MercadoLibre by 42.0% in the 1st quarter. Focus Partners Wealth now owns 602 shares of the company’s stock worth $1,176,000 after buying an additional 178 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in shares of MercadoLibre in the 2nd quarter worth about $261,000. Finally, Geode Capital Management LLC grew its position in MercadoLibre by 9.0% during the second quarter. Geode Capital Management LLC now owns 65,142 shares of the company’s stock valued at $163,107,000 after buying an additional 5,361 shares during the period. 87.62% of the stock is currently owned by institutional investors.

About MercadoLibre

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.