Short Interest in MercadoLibre, Inc. (NASDAQ:MELI) Grows By 23.2%

MercadoLibre, Inc. (NASDAQ:MELIGet Rating) was the target of a large increase in short interest in August. As of August 31st, there was short interest totalling 1,040,000 shares, an increase of 23.2% from the August 15th total of 844,000 shares. Approximately 2.3% of the shares of the stock are short sold. Based on an average trading volume of 660,100 shares, the short-interest ratio is currently 1.6 days.

MercadoLibre Price Performance

Shares of MELI stock opened at $919.11 on Monday. MercadoLibre has a 1 year low of $600.68 and a 1 year high of $1,913.77. The firm’s 50 day moving average is $876.78 and its 200-day moving average is $899.94. The firm has a market capitalization of $46.27 billion, a price-to-earnings ratio of 194.32 and a beta of 1.63. The company has a current ratio of 1.30, a quick ratio of 1.27 and a debt-to-equity ratio of 1.59.

MercadoLibre (NASDAQ:MELIGet Rating) last announced its earnings results on Wednesday, August 3rd. The company reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.75. MercadoLibre had a net margin of 2.68% and a return on equity of 19.66%. During the same quarter last year, the business earned $1.37 EPS. Sell-side analysts forecast that MercadoLibre will post 7.78 EPS for the current fiscal year.

Institutional Investors Weigh In On MercadoLibre

Institutional investors and hedge funds have recently modified their holdings of the business. FinTrust Capital Advisors LLC raised its stake in shares of MercadoLibre by 120.0% during the second quarter. FinTrust Capital Advisors LLC now owns 33 shares of the company’s stock worth $25,000 after buying an additional 18 shares during the last quarter. UMB Bank N A MO raised its stake in shares of MercadoLibre by 550.0% during the first quarter. UMB Bank N A MO now owns 26 shares of the company’s stock worth $31,000 after buying an additional 22 shares during the last quarter. Prospera Financial Services Inc bought a new stake in shares of MercadoLibre during the first quarter worth approximately $31,000. San Luis Wealth Advisors LLC bought a new stake in shares of MercadoLibre during the first quarter worth approximately $31,000. Finally, Oliver Lagore Vanvalin Investment Group bought a new stake in shares of MercadoLibre during the second quarter worth approximately $31,000. 89.00% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on MELI shares. Credit Suisse Group lifted their target price on shares of MercadoLibre from $1,430.00 to $1,470.00 and gave the company an “outperform” rating in a research report on Thursday, August 4th. Jefferies Financial Group decreased their target price on shares of MercadoLibre from $850.00 to $800.00 in a research report on Thursday, July 21st. Barclays decreased their target price on shares of MercadoLibre from $1,500.00 to $1,250.00 and set an “overweight” rating on the stock in a research report on Thursday, August 4th. StockNews.com upgraded shares of MercadoLibre from a “sell” rating to a “hold” rating in a research report on Thursday, August 4th. Finally, JPMorgan Chase & Co. boosted their price target on shares of MercadoLibre from $1,300.00 to $1,350.00 in a research report on Monday, August 8th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,388.18.

About MercadoLibre

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MercadoLibre, Inc operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; 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.

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