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

MercadoLibre, Inc. (NASDAQ:MELI) saw a significant drop in short interest during the month of January. As of January 30th, there was short interest totaling 754,910 shares, a drop of 24.9% from the January 15th total of 1,005,144 shares. Based on an average daily trading volume, of 582,364 shares, the short-interest ratio is currently 1.3 days. Currently, 1.5% of the shares of the company are short sold. Currently, 1.5% of the shares of the company are short sold. Based on an average daily trading volume, of 582,364 shares, the short-interest ratio is currently 1.3 days.

Insider Transactions at MercadoLibre

In other MercadoLibre news, Director Henrique Vasoncelos Dubugras sold 845 shares of MercadoLibre stock in a transaction on Friday, December 12th. The shares were sold at an average price of $2,028.14, for a total transaction of $1,713,778.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stelleo Tolda sold 246 shares of the company’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $2,047.88, for a total transaction of $503,778.48. The SEC filing for this sale provides additional information. In the last three months, insiders sold 1,136 shares of company stock worth $2,308,788. 0.25% of the stock is owned by company insiders.

Hedge Funds Weigh In On MercadoLibre

Several hedge funds and other institutional investors have recently made changes to their positions in MELI. Baillie Gifford & Co. raised its position in MercadoLibre by 4.9% during the fourth quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock valued at $7,012,773,000 after purchasing an additional 164,120 shares in the last quarter. Capital Research Global Investors increased its stake in shares of MercadoLibre by 22.5% in the 4th quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock valued at $4,481,812,000 after purchasing an additional 408,939 shares during the last quarter. Capital World Investors raised its holdings in shares of MercadoLibre by 1.3% during the 3rd quarter. Capital World Investors now owns 1,740,129 shares of the company’s stock worth $4,067,194,000 after buying an additional 22,659 shares in the last quarter. Capital International Investors raised its holdings in shares of MercadoLibre by 7.3% during the 4th quarter. Capital International Investors now owns 1,725,125 shares of the company’s stock worth $3,474,880,000 after buying an additional 118,018 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in shares of MercadoLibre by 7.0% during the 2nd quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock worth $3,228,460,000 after buying an additional 81,124 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Trading Down 0.9%

Shares of NASDAQ:MELI opened at $1,988.26 on Tuesday. The business’s 50 day simple moving average is $2,064.20 and its 200 day simple moving average is $2,188.78. MercadoLibre has a 1 year low of $1,723.90 and a 1 year high of $2,645.22. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.17 and a quick ratio of 1.15. The company has a market capitalization of $100.80 billion, a P/E ratio of 48.52, a P/E/G ratio of 0.99 and a beta of 1.44.

Analysts Set New Price Targets

A number of research analysts recently commented on MELI shares. Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, December 2nd. Benchmark decreased their target price on MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. Zacks Research upgraded MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Friday, February 6th. UBS Group reduced their price target on MercadoLibre from $3,000.00 to $2,900.00 and set a “buy” rating for the company in a research note on Monday, November 24th. Finally, Weiss Ratings cut MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and an average price target of $2,886.25.

MercadoLibre Company Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.