MercadoLibre, Inc. (NASDAQ:MELI) sees a significant drop in short-term interest

MercadoLibre, Inc. (NASDAQ:MELI – Get Rating) experienced a significant decline in short-term interest in the month of March. As of March 15, there was short interest totaling 1,340,000 shares, down 27.6% from the February 28 total of 1,850,000 shares. Based on an average daily trading volume of 717,500 shares, the days-to-cover ratio is currently 1.9 days. Approximately 2.9% of the company’s shares are sold short.

Several analysts have recently weighed in on MELI shares. Credit Suisse Group raised its price target on MercadoLibre shares from $1,675.00 to $1,685.00 in a Wednesday, February 23 report. StockNews.com upgraded MercadoLibre from a “sell” rating to a “hold” rating in a Thursday, March 24 research report. BTIG Research reduced its price target on MercadoLibre shares from $1,930.00 to $1,550.00 in a research report on Tuesday, January 18. Stifel Nicolaus cut his price target on MercadoLibre from $1,600.00 to $1,400.00 and set a “buy” rating for the company in a Wednesday, February 23 research note. Finally, Zacks Investment Research downgraded MercadoLibre from a “hold” rating to a “strong sell” rating and set a price target of $956.00 for the company. in a research note from Wednesday, March 2. One analyst rated the stock with a sell rating, two assigned a hold rating and twelve assigned the company a buy rating. Based on data from MarketBeat, MercadoLibre currently has an average rating of “Buy” and a consensus price target of $1,757.00.

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In other MercadoLibre news, Director Emiliano Calemzuk sold 75 shares of MercadoLibre in a trade that took place on Monday, March 7. The shares were sold at an average price of $1,008.61, for a total transaction of $75,645.75. The transaction was disclosed in a filing with the SEC, accessible via the SEC’s website. Additionally, CAO Marcelo Melamud purchased 55 shares of the company in a trade dated Monday, March 14. The stock was purchased at an average price of $881.82 per share, for a total transaction of $48,500.10. Disclosure of this purchase can be found here. In the past 90 days, insiders have purchased 205 shares of the company worth $188,950. 0.39% of the shares are held by insiders of the company.

Several institutional investors and hedge funds have recently increased or reduced their stake in the company. Baillie Gifford & Co. increased its stake in MercadoLibre by 5.4% in the fourth quarter. Baillie Gifford & Co. now owns 4,957,539 shares of the company valued at $6,684,747,000 after acquiring an additional 255,226 shares in the last quarter. Capital Research Global Investors increased its stake in MercadoLibre by 20.5% in the fourth quarter. Capital Research Global Investors now owns 4,641,606 shares of the company valued at $6,258,766,000 after acquiring an additional 789,308 shares in the last quarter. Capital World Investors increased its stake in MercadoLibre by 3.9% in the third quarter. Capital World Investors now owns 2,321,562 shares of the company valued at $3,898,783,000 after acquiring an additional 86,224 shares in the last quarter. Jennison Associates LLC increased its stake in MercadoLibre by 8.8% in the fourth quarter. Jennison Associates LLC now owns 2,038,209 shares of the company valued at $2,748,321,000 after acquiring an additional 164,347 shares in the last quarter. Finally, Sands Capital Management LLC increased its stake in MercadoLibre by 2.2% in the third quarter. Sands Capital Management LLC now owns 1,231,475 shares of the company valued at $2,068,139,000 after acquiring an additional 26,212 shares in the last quarter. 77.18% of the shares are currently held by institutional investors and hedge funds.

NASDAQ: MELI traded at $46.65 during Wednesday trading hours, hitting $1,209.85. The company’s stock had a trading volume of 341,409 shares, compared to its average volume of 743,142. The company has a market capitalization of $61.00 billion, a price-earnings ratio of 715.89 and a beta of 1.52. MercadoLibre has a one-year low of $858.99 and a one-year high of $1,970.13. The company’s 50-day moving average is $1,068.07 and its 200-day moving average is $1,302.11. The company has a debt ratio of 1.46, a current ratio of 1.40 and a quick ratio of 1.36.

MercadoLibre (NASDAQ:MELI – Get Rating) last released its quarterly earnings data on Tuesday, February 22. The company reported ($0.92) earnings per share for the quarter, missing Thomson Reuters consensus estimate of $0.89 per ($1.81). MercadoLibre had a return on equity of 31.09% and a net margin of 1.18%. The company posted revenue of $2.13 billion for the quarter, versus a consensus estimate of $2.02 billion. In the same period a year earlier, the company posted ($1.02) earnings per share. MercadoLibre’s quarterly turnover increased by 60.5% compared to the same quarter last year. On average, sell-side analysts expect MercadoLibre to post an EPS of 7.21 for the current fiscal year.

MercadoLibre company profile (Get a rating)

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

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