Generate Investment Management Ltd Sells 348 Shares of MercadoLibre, Inc. $MELI

Generate Investment Management Ltd lessened its position in MercadoLibre, Inc. (NASDAQ:MELI) by 8.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,819 shares of the company’s stock after selling 348 shares during the period. Generate Investment Management Ltd’s holdings in MercadoLibre were worth $9,981,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. lifted its holdings in MercadoLibre by 170.9% during the first quarter. Assenagon Asset Management S.A. now owns 274,960 shares of the company’s stock worth $536,411,000 after acquiring an additional 173,449 shares in the last quarter. Invesco Ltd. grew its position in shares of MercadoLibre by 22.4% in the 1st quarter. Invesco Ltd. now owns 570,967 shares of the company’s stock valued at $1,113,881,000 after purchasing an additional 104,554 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in MercadoLibre by 21.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company’s stock worth $1,073,823,000 after purchasing an additional 96,283 shares in the last quarter. GQG Partners LLC raised its holdings in MercadoLibre by 23.5% during the 1st quarter. GQG Partners LLC now owns 461,875 shares of the company’s stock worth $901,058,000 after buying an additional 87,912 shares during the period. Finally, Nuveen LLC acquired a new position in shares of MercadoLibre in the first quarter valued at approximately $143,367,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of MELI opened at $2,468.42 on Monday. The company has a market cap of $125.15 billion, a PE ratio of 60.96, a price-to-earnings-growth ratio of 1.61 and a beta of 1.49. The firm has a 50-day moving average of $2,391.84 and a 200-day moving average of $2,337.29. MercadoLibre, Inc. has a one year low of $1,646.00 and a one year high of $2,645.22. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $12.01 by ($1.70). MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The firm had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.57 billion. During the same period in the previous year, the company posted $10.48 earnings per share. The firm’s revenue for the quarter was up 33.8% compared to the same quarter last year. As a group, equities analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analyst Ratings Changes

MELI has been the topic of several research reports. UBS Group set a $3,000.00 price objective on shares of MercadoLibre in a research report on Monday, June 2nd. Barclays cut their target price on MercadoLibre from $3,100.00 to $3,000.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 23rd. Wall Street Zen downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Sunday, June 22nd. Benchmark restated a “buy” rating and set a $2,875.00 target price on shares of MercadoLibre in a report on Tuesday, August 5th. Finally, Citigroup lowered their price target on shares of MercadoLibre from $2,900.00 to $2,850.00 and set a “buy” rating on the stock in a research note on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,828.33.

MercadoLibre Profile

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.