MercadoLibre, Inc. (NASDAQ:MELI) Short Interest Down 18.8% in December

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

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Cantor Fitzgerald cut their target price on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Wedbush restated an “outperform” rating and issued a $2,200.00 target price (up from $2,000.00) on shares of MercadoLibre in a research note on Thursday, November 7th. Bank of America upped their price target on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Redburn Atlantic initiated coverage on MercadoLibre in a research note on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price objective for the company. Finally, Barclays lowered their target price on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $2,267.67.

MercadoLibre Stock Down 0.2 %

Shares of MELI stock traded down $3.67 on Monday, hitting $1,721.80. The stock had a trading volume of 241,780 shares, compared to its average volume of 373,357. MercadoLibre has a 12-month low of $1,324.99 and a 12-month high of $2,161.73. The stock has a market cap of $87.29 billion, a price-to-earnings ratio of 60.76, a price-to-earnings-growth ratio of 1.24 and a beta of 1.57. The business has a 50 day moving average of $1,931.36 and a 200 day moving average of $1,890.03. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22.

Insider Transactions at MercadoLibre

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of MercadoLibre stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total value of $99,249.00. Following the completion of the sale, the director now directly owns 238 shares in the company, valued at approximately $472,425.24. The trade was a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On MercadoLibre

Hedge funds and other institutional investors have recently modified their holdings of the business. International Assets Investment Management LLC boosted its stake in MercadoLibre by 205,108.3% in the third quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock valued at $509,506,000 after acquiring an additional 248,181 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in MercadoLibre during the second quarter valued at about $2,913,000. FMR LLC boosted its position in MercadoLibre by 18.6% during the third quarter. FMR LLC now owns 878,996 shares of the company’s stock worth $1,803,665,000 after purchasing an additional 137,564 shares during the period. Wellington Management Group LLP boosted its position in MercadoLibre by 52.9% during the third quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock worth $717,525,000 after purchasing an additional 120,922 shares during the period. Finally, Swedbank AB increased its stake in shares of MercadoLibre by 352.8% in the third quarter. Swedbank AB now owns 94,123 shares of the company’s stock worth $193,137,000 after purchasing an additional 73,336 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

About MercadoLibre

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.