Zevin Asset Management LLC reduced its stake in shares of Mercadolibre Inc (NASDAQ:MELI) by 1.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 20,507 shares of the company’s stock after selling 308 shares during the period. Mercadolibre makes up approximately 3.6% of Zevin Asset Management LLC’s portfolio, making the stock its 6th biggest holding. Zevin Asset Management LLC’s holdings in Mercadolibre were worth $11,304,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Invesco Ltd. boosted its stake in shares of Mercadolibre by 112.9% during the 2nd quarter. Invesco Ltd. now owns 1,020,646 shares of the company’s stock worth $624,402,000 after acquiring an additional 541,277 shares in the last quarter. Viking Global Investors LP boosted its stake in shares of Mercadolibre by 39.7% during the 2nd quarter. Viking Global Investors LP now owns 854,831 shares of the company’s stock worth $522,960,000 after acquiring an additional 242,962 shares in the last quarter. Whale Rock Capital Management LLC boosted its stake in shares of Mercadolibre by 146.1% during the 2nd quarter. Whale Rock Capital Management LLC now owns 186,912 shares of the company’s stock worth $114,347,000 after acquiring an additional 110,960 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Mercadolibre by 74.4% during the 2nd quarter. Bank of America Corp DE now owns 250,328 shares of the company’s stock worth $153,144,000 after acquiring an additional 106,832 shares in the last quarter. Finally, William Blair Investment Management LLC purchased a new stake in shares of Mercadolibre during the 2nd quarter worth about $64,328,000. 81.95% of the stock is currently owned by institutional investors.
Mercadolibre stock traded up $2.43 during midday trading on Friday, reaching $494.42. The company had a trading volume of 390,600 shares, compared to its average volume of 567,941. Mercadolibre Inc has a 12-month low of $257.52 and a 12-month high of $698.98. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.73 and a quick ratio of 2.53. The firm’s fifty day simple moving average is $537.52 and its 200-day simple moving average is $581.45. The company has a market capitalization of $24.11 billion, a P/E ratio of -602.95 and a beta of 1.61.
Mercadolibre (NASDAQ:MELI) last posted its earnings results on Thursday, October 31st. The company reported ($2.96) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($2.97). Mercadolibre had a negative net margin of 5.87% and a negative return on equity of 1.29%. The company had revenue of $603.03 million during the quarter, compared to analyst estimates of $588.23 million. During the same quarter last year, the business posted ($0.23) EPS. The firm’s revenue for the quarter was up 69.7% on a year-over-year basis. On average, analysts expect that Mercadolibre Inc will post -1.15 EPS for the current fiscal year.
MELI has been the topic of several recent analyst reports. UBS Group lowered their target price on shares of Mercadolibre from $730.00 to $670.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. Stifel Nicolaus increased their target price on shares of Mercadolibre from $560.00 to $650.00 and gave the stock a “hold” rating in a research note on Thursday, August 8th. BidaskClub lowered shares of Mercadolibre from a “hold” rating to a “sell” rating in a research note on Wednesday. TheStreet lowered shares of Mercadolibre from a “c” rating to a “d+” rating in a research note on Thursday, October 31st. Finally, Piper Jaffray Companies increased their target price on shares of Mercadolibre from $584.00 to $675.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company’s stock. Mercadolibre has a consensus rating of “Buy” and an average price target of $657.56.
MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago 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, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.
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