Short Interest in Mercadolibre Inc (MELI) Decreases By 32.1%
Mercadolibre Inc (NASDAQ:MELI) was the recipient of a significant drop in short interest during the month of March. As of March 29th, there was short interest totalling 1,891,295 shares, a drop of 32.1% from the March 15th total of 2,785,518 shares. Currently, 4.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 596,408 shares, the short-interest ratio is presently 3.2 days.
NASDAQ MELI opened at $513.68 on Tuesday. The company has a quick ratio of 1.29, a current ratio of 1.30 and a debt-to-equity ratio of 1.79. The firm has a market cap of $23.09 billion, a price-to-earnings ratio of -626.44 and a beta of 2.22. Mercadolibre has a 52 week low of $257.52 and a 52 week high of $527.09.
Mercadolibre (NASDAQ:MELI) last posted its quarterly earnings data on Tuesday, February 26th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.13. The company had revenue of $428.00 million during the quarter, compared to analyst estimates of $400.80 million. Mercadolibre had a negative net margin of 2.54% and a negative return on equity of 13.47%. Mercadolibre’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.53) earnings per share. Analysts predict that Mercadolibre will post 0.4 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of MELI. Csenge Advisory Group purchased a new position in Mercadolibre during the third quarter worth $42,000. We Are One Seven LLC purchased a new position in Mercadolibre during the fourth quarter worth $51,000. Larson Financial Group LLC purchased a new position in Mercadolibre during the fourth quarter worth $59,000. Bogart Wealth LLC boosted its stake in Mercadolibre by 15.8% during the fourth quarter. Bogart Wealth LLC now owns 374 shares of the company’s stock worth $109,000 after buying an additional 51 shares during the period. Finally, Executive Wealth Management LLC purchased a new position in Mercadolibre during the fourth quarter worth $112,000. 91.12% of the stock is owned by institutional investors.
MELI has been the topic of several recent analyst reports. BTIG Research reiterated a “buy” rating and set a $410.00 price objective on shares of Mercadolibre in a research report on Wednesday, January 16th. Credit Suisse Group raised their target price on shares of Mercadolibre from $387.00 to $398.00 and gave the company an “outperform” rating in a report on Monday, January 28th. Stifel Nicolaus reissued a “buy” rating and issued a $460.00 target price on shares of Mercadolibre in a report on Wednesday, February 27th. BidaskClub raised shares of Mercadolibre from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 6th. Finally, Piper Jaffray Companies raised their target price on shares of Mercadolibre to $442.00 and gave the company an “overweight” rating in a report on Wednesday, February 27th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $443.92.
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MercadoLibre, Inc hosts online commerce platforms in Latin America. It offers MercadoLibre Marketplace, an automated online commerce service for businesses and individuals to list items and conduct their sales and purchases online in a fixed-price or auction-based format. The company's Marketplace platform enables commerce through online classifieds for motor vehicles, vessels, aircraft, services, and real estate; and Internet users to browse through various products that are listed on its Website and to register with MercadoLibre to list and purchase items and services.
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