MercadoLibre, Inc. (NASDAQ:MELI) Short Interest Down 24.5% in September

MercadoLibre, Inc. (NASDAQ:MELI) saw a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 509,700 shares, a drop of 24.5% from the September 15th total of 674,900 shares. Currently, 1.1% of the company’s shares are short sold. Based on an average daily volume of 313,100 shares, the days-to-cover ratio is presently 1.6 days.

MercadoLibre Stock Down 2.4 %

MELI traded down $49.96 during trading on Tuesday, hitting $2,030.00. The company had a trading volume of 200,324 shares, compared to its average volume of 351,287. MercadoLibre has a 1-year low of $1,141.04 and a 1-year high of $2,161.73. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26. The company has a market cap of $102.91 billion, a PE ratio of 92.24, a P/E/G ratio of 1.25 and a beta of 1.61. The business has a 50-day moving average of $2,018.64 and a 200-day moving average of $1,750.46.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.53 by $1.95. The business had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The company’s revenue for the quarter was up 41.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.16 EPS. As a group, analysts forecast that MercadoLibre will post 37.55 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MELI. The Goldman Sachs Group lifted their price target on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Morgan Stanley lifted their target price on shares of MercadoLibre from $2,175.00 to $2,500.00 and gave the company an “overweight” rating in a report on Friday, September 20th. BTIG Research upped their price target on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Dbs Bank raised MercadoLibre from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 11th. Finally, Susquehanna upped their target price on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research report on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $2,283.00.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of MELI. O Dell Group LLC lifted its stake in MercadoLibre by 2.1% during the first quarter. O Dell Group LLC now owns 294 shares of the company’s stock worth $445,000 after purchasing an additional 6 shares during the last quarter. Belpointe Asset Management LLC lifted its position in shares of MercadoLibre by 1.0% in the 2nd quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock worth $1,016,000 after buying an additional 6 shares during the last quarter. Ameritas Investment Partners Inc. boosted its holdings in shares of MercadoLibre by 0.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company’s stock valued at $2,419,000 after buying an additional 6 shares during the period. Evolutionary Tree Capital Management LLC grew its position in shares of MercadoLibre by 0.3% during the 2nd quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company’s stock valued at $3,403,000 after buying an additional 6 shares during the last quarter. Finally, Hilltop National Bank raised its stake in MercadoLibre by 14.3% during the second quarter. Hilltop National Bank now owns 56 shares of the company’s stock worth $92,000 after acquiring an additional 7 shares during the period. 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.