Short Interest in MercadoLibre, Inc. (NASDAQ:MELI) Decreases By 18.8%

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

MercadoLibre Stock Performance

Shares of NASDAQ:MELI traded down $7.29 during trading on Friday, reaching $1,725.47. The company had a trading volume of 183,675 shares, compared to its average volume of 373,883. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The stock’s fifty day moving average price is $1,931.36 and its 200 day moving average price is $1,890.03. MercadoLibre has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73. The firm has a market capitalization of $87.48 billion, a price-to-earnings ratio of 60.88, a price-to-earnings-growth ratio of 1.24 and a beta of 1.57.

Insider Activity

In related news, Director Emiliano Calemzuk sold 50 shares of the business’s stock in a transaction 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 sale, the director now owns 238 shares in the company, valued at approximately $472,425.24. The trade was a 17.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On MercadoLibre

A number of large investors have recently bought and sold shares of MELI. Optimum Investment Advisors lifted its holdings in shares of MercadoLibre by 750.0% in the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after buying an additional 15 shares during the period. Quarry LP acquired a new stake in MercadoLibre in the second quarter valued at $43,000. Legacy Bridge LLC boosted its position in shares of MercadoLibre by 53.3% during the 3rd quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock worth $47,000 after purchasing an additional 8 shares in the last quarter. NBC Securities Inc. grew its stake in shares of MercadoLibre by 35.0% during the 3rd quarter. NBC Securities Inc. now owns 27 shares of the company’s stock worth $55,000 after purchasing an additional 7 shares during the period. Finally, GHP Investment Advisors Inc. increased its holdings in shares of MercadoLibre by 41.7% in the 2nd quarter. GHP Investment Advisors Inc. now owns 34 shares of the company’s stock valued at $56,000 after purchasing an additional 10 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Redburn Atlantic began coverage on shares of MercadoLibre in a research note on Friday, October 11th. They set a “buy” rating and a $2,800.00 target price on the stock. Wedbush reiterated an “outperform” rating and set a $2,200.00 price target (up previously from $2,000.00) on shares of MercadoLibre in a report on Thursday, November 7th. Cantor Fitzgerald reduced their price objective on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. JPMorgan Chase & Co. decreased their price objective on shares of MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating for the company in a research report on Wednesday, November 13th. Finally, Barclays dropped their target price on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $2,267.67.

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.