Sonora Investment Management Group LLC Sells 10 Shares of MercadoLibre, Inc. $MELI

Sonora Investment Management Group LLC lessened its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 6.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 158 shares of the company’s stock after selling 10 shares during the period. Sonora Investment Management Group LLC’s holdings in MercadoLibre were worth $413,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of MELI. Banco Santander S.A. grew its position in shares of MercadoLibre by 221.9% during the first quarter. Banco Santander S.A. now owns 2,746 shares of the company’s stock worth $5,357,000 after purchasing an additional 1,893 shares in the last quarter. Prospect Financial Services LLC raised its stake in MercadoLibre by 41.7% during the 1st quarter. Prospect Financial Services LLC now owns 340 shares of the company’s stock valued at $663,000 after purchasing an additional 100 shares during the period. Stratos Investment Management LLC bought a new stake in MercadoLibre during the 1st quarter valued at approximately $203,000. Ground Swell Capital LLC bought a new stake in MercadoLibre during the 1st quarter valued at approximately $439,000. Finally, Alta Capital Management LLC raised its stake in MercadoLibre by 97.9% during the 1st quarter. Alta Capital Management LLC now owns 14,728 shares of the company’s stock valued at $28,732,000 after purchasing an additional 7,284 shares during the period. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Price Performance

NASDAQ:MELI opened at $2,468.42 on Monday. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. The business’s 50-day moving average is $2,391.84 and its 200 day moving average is $2,337.29. The company has a market capitalization of $125.15 billion, a P/E ratio of 60.96, a P/E/G ratio of 1.61 and a beta of 1.49.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data 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 company had revenue of $6.79 billion for the quarter, compared to analysts’ expectations of $6.57 billion. During the same quarter last year, the company earned $10.48 earnings per share. The company’s revenue for the quarter was up 33.8% on a year-over-year basis. On average, equities research analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MELI. Jefferies Financial Group reissued a “hold” rating and set a $2,800.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. Barclays decreased 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. Cantor Fitzgerald lifted their target price on MercadoLibre from $2,700.00 to $2,900.00 and gave the company an “overweight” rating in a research note on Wednesday, September 24th. Susquehanna reiterated a “positive” rating and issued a $2,975.00 target price (up from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. Finally, Scotiabank started coverage on MercadoLibre in a research report on Monday, July 28th. They issued a “sector outperform” rating and a $3,500.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $2,828.33.

MercadoLibre Company 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.