MercadoLibre, Inc. (NASDAQ:MELI – Get Rating) was the target of a significant decrease in short interest in the month of June. As of June 15th, there was short interest totalling 896,200 shares, a decrease of 28.3% from the May 31st total of 1,250,000 shares. Based on an average daily volume of 632,500 shares, the days-to-cover ratio is presently 1.4 days. Currently, 2.2% of the shares of the stock are short sold.
Several institutional investors and hedge funds have recently modified their holdings of MELI. Retirement Planning Co of New England Inc. acquired a new position in shares of MercadoLibre in the 4th quarter valued at about $26,000. Future Financial Wealth Managment LLC acquired a new position in shares of MercadoLibre in the 4th quarter valued at about $27,000. Ahrens Investment Partners LLC acquired a new position in shares of MercadoLibre in the 4th quarter valued at about $27,000. Masso Torrence Wealth Management Inc. acquired a new position in shares of MercadoLibre in the 4th quarter valued at about $31,000. Finally, UMB Bank N A MO grew its stake in shares of MercadoLibre by 550.0% in the 1st quarter. UMB Bank N A MO now owns 26 shares of the company’s stock valued at $31,000 after buying an additional 22 shares in the last quarter. Institutional investors own 79.61% of the company’s stock.
Several research firms recently weighed in on MELI. TheStreet raised shares of MercadoLibre from a “d+” rating to a “c-” rating in a report on Friday, May 6th. Credit Suisse Group reduced their price objective on shares of MercadoLibre from $1,685.00 to $1,440.00 in a report on Monday, May 2nd. Citigroup dropped their price target on shares of MercadoLibre from $1,500.00 to $1,150.00 and set a “buy” rating on the stock in a research report on Thursday, June 9th. KGI Securities assumed coverage on shares of MercadoLibre in a research report on Monday, June 6th. They issued an “outperform” rating on the stock. Finally, StockNews.com cut shares of MercadoLibre from a “hold” rating to a “sell” rating in a research report on Friday, June 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,649.00.
NASDAQ MELI traded up $23.08 on Friday, hitting $659.95. 521,053 shares of the company were exchanged, compared to its average volume of 664,429. The company’s 50 day moving average price is $784.74 and its 200-day moving average price is $1,000.75. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.40 and a quick ratio of 1.36. The firm has a market capitalization of $33.25 billion, a P/E ratio of 179.82 and a beta of 1.62. MercadoLibre has a twelve month low of $600.68 and a twelve month high of $1,970.13.
MercadoLibre (NASDAQ:MELI – Get Rating) last issued its earnings results on Thursday, May 5th. The company reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.36). The business had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.06 billion. MercadoLibre had a net margin of 2.30% and a return on equity of 21.93%. MercadoLibre’s revenue for the quarter was up 63.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.31 EPS. As a group, equities analysts expect that MercadoLibre will post 6.59 EPS for the current year.
MercadoLibre Company Profile (Get Rating)
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, 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.