MercadoLibre, Inc. (NASDAQ:MELI) Short Interest Update

MercadoLibre, Inc. (NASDAQ:MELI) was the recipient of a large decrease in short interest in 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. Based on an average daily volume of 430,400 shares, the days-to-cover ratio is presently 1.5 days. Currently, 1.4% of the shares of the stock are sold short.

Insider Transactions at MercadoLibre

In other news, Director Emiliano Calemzuk sold 50 shares of the 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 directly owns 238 shares of the company’s stock, valued at approximately $472,425.24. This represents a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MELI. Jennison Associates LLC raised its stake in shares of MercadoLibre by 3.9% in the third quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock worth $3,845,207,000 after purchasing an additional 70,154 shares during the last quarter. FMR LLC increased its holdings in MercadoLibre by 18.6% in the 3rd quarter. FMR LLC now owns 878,996 shares of the company’s stock worth $1,803,665,000 after buying an additional 137,564 shares during the period. State Street Corp raised its position in MercadoLibre by 3.1% during the 3rd quarter. State Street Corp now owns 404,584 shares of the company’s stock worth $830,190,000 after buying an additional 12,000 shares during the last quarter. Wellington Management Group LLP lifted its stake in MercadoLibre by 52.9% during the 3rd quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock valued at $717,525,000 after acquiring an additional 120,922 shares during the period. Finally, Legal & General Group Plc boosted its holdings in shares of MercadoLibre by 3.6% in the 2nd quarter. Legal & General Group Plc now owns 323,570 shares of the company’s stock valued at $531,755,000 after acquiring an additional 11,265 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on MELI shares. Citigroup cut their price objective on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Bank of America lifted their target price on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Wedbush restated an “outperform” rating and set a $2,200.00 price objective (up from $2,000.00) on shares of MercadoLibre in a report on Thursday, November 7th. Raymond James started coverage on MercadoLibre in a report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 target price for the company. Finally, Cantor Fitzgerald lowered their price objective on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $2,267.67.

MercadoLibre Stock Down 1.2 %

Shares of MELI stock traded down $21.36 during trading hours on Tuesday, reaching $1,700.44. 173,053 shares of the company’s stock were exchanged, compared to its average volume of 372,563. MercadoLibre has a 1 year low of $1,324.99 and a 1 year high of $2,161.73. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The stock has a market cap of $86.21 billion, a PE ratio of 60.00, a PEG ratio of 1.24 and a beta of 1.57. The stock’s fifty day moving average price is $1,916.43 and its two-hundred day moving average price is $1,891.86.

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.