MercadoLibre, Inc. (NASDAQ:MELI) Sees Large Increase in Short Interest

by · The Markets Daily

MercadoLibre, Inc. (NASDAQ:MELI – Get Free Report) was the target of a significant growth in short interest in the month of June. As of June 15th, there was short interest totalling 692,000 shares, a growth of 26.8% from the May 31st total of 545,800 shares. Based on an average daily trading volume, of 354,400 shares, the short-interest ratio is presently 2.0 days. Currently, 1.5% of the shares of the company are sold short.

MercadoLibre Price Performance

Shares of MELI stock traded down $2.64 on Tuesday, reaching $1,594.96. 48,208 shares of the company were exchanged, compared to its average volume of 374,163. The company has a market cap of $80.86 billion, a price-to-earnings ratio of 70.96, a P/E/G ratio of 1.20 and a beta of 1.60. The business has a 50-day moving average price of $1,616.76 and a 200 day moving average price of $1,607.24. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.25 and a current ratio of 1.27. MercadoLibre has a 1 year low of $1,063.02 and a 1 year high of $1,825.00.

MercadoLibre (NASDAQ:MELI – Get Free Report) last released its earnings results on Thursday, May 2nd. The company reported $6.78 EPS for the quarter, topping analysts’ consensus estimates of $6.64 by $0.14. The business had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $3.84 billion. MercadoLibre had a net margin of 7.17% and a return on equity of 39.46%. The company’s quarterly revenue was up 36.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.97 earnings per share. Equities research analysts forecast that MercadoLibre will post 33.81 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Wedbush reissued an “outperform” rating and set a $1,800.00 target price on shares of MercadoLibre in a report on Friday, May 3rd. Barclays raised their target price on shares of MercadoLibre from $1,800.00 to $2,000.00 and gave the stock an “overweight” rating in a report on Monday, May 13th. Citigroup reduced their target price on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating for the company in a report on Wednesday, March 27th. DZ Bank raised shares of MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 target price for the company in a report on Tuesday, April 23rd. Finally, Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and raised their target price for the stock from $1,400.00 to $2,100.00 in a report on Monday, May 20th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,881.92.

Read Our Latest Report on MELI

Hedge Funds Weigh In On MercadoLibre

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Turtle Creek Wealth Advisors LLC acquired a new position in MercadoLibre in the 4th quarter valued at about $28,000. First PREMIER Bank acquired a new position in shares of MercadoLibre in the 1st quarter worth approximately $27,000. Archer Investment Corp acquired a new position in shares of MercadoLibre in the 4th quarter worth approximately $31,000. Larson Financial Group LLC acquired a new position in shares of MercadoLibre in the 4th quarter worth approximately $36,000. Finally, DSM Capital Partners LLC acquired a new position in shares of MercadoLibre in the 4th quarter worth approximately $36,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

About MercadoLibre

(Get Free Report)

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.

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