MercadoLibre, Inc. (NASDAQ:MELI) Short Interest Down 24.9% in January

MercadoLibre, Inc. (NASDAQ:MELI) was the recipient of a significant drop in short interest in 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. Currently, 1.5% of the shares of the company are sold short. Based on an average trading volume of 582,364 shares, the short-interest ratio is presently 1.3 days. Based on an average trading volume of 582,364 shares, the short-interest ratio is presently 1.3 days. Currently, 1.5% of the shares of the company are sold short.

Insider Buying and Selling

In related news, Director Henrique Vasoncelos Dubugras sold 845 shares of the company’s stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stelleo Tolda sold 246 shares of the business’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $2,047.88, for a total value of $503,778.48. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 1,136 shares of company stock valued at $2,308,788. 0.25% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Silvant Capital Management LLC boosted its holdings in shares of MercadoLibre by 8.4% during the fourth quarter. Silvant Capital Management LLC now owns 11,876 shares of the company’s stock worth $23,921,000 after purchasing an additional 917 shares during the period. Tamar Securities LLC increased its position in MercadoLibre by 5.1% during the fourth quarter. Tamar Securities LLC now owns 13,124 shares of the company’s stock worth $26,435,000 after acquiring an additional 636 shares during the period. Venture Visionary Partners LLC lifted its stake in shares of MercadoLibre by 4.0% in the fourth quarter. Venture Visionary Partners LLC now owns 2,421 shares of the company’s stock valued at $4,877,000 after buying an additional 92 shares during the period. Panagora Asset Management Inc. increased its position in shares of MercadoLibre by 9.4% during the fourth quarter. Panagora Asset Management Inc. now owns 33,124 shares of the company’s stock valued at $66,720,000 after purchasing an additional 2,853 shares during the period. Finally, Perryman Financial Advisory Inc. AD bought a new stake in MercadoLibre in the 4th quarter valued at $931,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Ratings Changes

MELI has been the subject of a number of recent research reports. UBS Group decreased their price target on shares of 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. Wedbush cut their price target on MercadoLibre from $2,800.00 to $2,700.00 and set an “outperform” rating on the stock in a research report on Friday, December 19th. JPMorgan Chase & Co. upgraded MercadoLibre from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $2,650.00 to $2,800.00 in a research report on Thursday. BTIG Research reaffirmed a “buy” rating and issued a $2,750.00 price objective on shares of MercadoLibre in a report on Wednesday, February 4th. Finally, Morgan Stanley upped their target price on shares of MercadoLibre from $2,850.00 to $2,950.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,886.25.

MercadoLibre Stock Down 0.9%

Shares of NASDAQ:MELI traded down $18.74 during trading on Monday, hitting $1,988.26. The company’s stock had a trading volume of 425,431 shares, compared to its average volume of 551,698. MercadoLibre has a fifty-two week low of $1,723.90 and a fifty-two week high of $2,645.22. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.15 and a current ratio of 1.17. The company has a market capitalization of $100.80 billion, a PE ratio of 48.52, a PEG ratio of 0.99 and a beta of 1.44. The stock’s 50-day moving average price is $2,064.20 and its two-hundred day moving average price is $2,188.78.

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.