MercadoLibre, Inc. $MELI Stock Holdings Cut by Lbp Am Sa

Lbp Am Sa reduced its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 12.7% in the second quarter, HoldingsChannel.com reports. The firm owned 20,134 shares of the company’s stock after selling 2,931 shares during the period. Lbp Am Sa’s holdings in MercadoLibre were worth $52,623,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MELI. Bison Wealth LLC bought a new position in MercadoLibre during the 4th quarter valued at $206,000. Rhumbline Advisers boosted its stake in MercadoLibre by 4.4% during the 1st quarter. Rhumbline Advisers now owns 10,365 shares of the company’s stock valued at $20,221,000 after purchasing an additional 437 shares in the last quarter. NBC Securities Inc. bought a new position in MercadoLibre during the 1st quarter valued at $72,000. Merit Financial Group LLC boosted its stake in shares of MercadoLibre by 7.7% during the 1st quarter. Merit Financial Group LLC now owns 757 shares of the company’s stock worth $1,477,000 after acquiring an additional 54 shares in the last quarter. Finally, RFG Advisory LLC boosted its stake in shares of MercadoLibre by 380.0% during the 1st quarter. RFG Advisory LLC now owns 1,512 shares of the company’s stock worth $2,949,000 after acquiring an additional 1,197 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $2,336.94 on Wednesday. The stock has a market cap of $118.48 billion, a PE ratio of 57.72, a price-to-earnings-growth ratio of 1.63 and a beta of 1.49. The business has a fifty day simple moving average of $2,393.33 and a 200-day simple moving average of $2,340.62. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing the consensus estimate of $12.01 by ($1.70). The business had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The business’s quarterly revenue was up 33.8% on a year-over-year basis. During the same period last year, the business earned $10.48 EPS. On average, sell-side analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MELI has been the subject of several research reports. Benchmark reissued a “buy” rating and set a $2,875.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. Citigroup reduced their price objective on MercadoLibre from $2,900.00 to $2,850.00 and set a “buy” rating for the company in a research note on Monday, August 18th. JPMorgan Chase & Co. raised their price objective on MercadoLibre from $2,600.00 to $2,700.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Cantor Fitzgerald raised their price objective on MercadoLibre from $2,700.00 to $2,900.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 24th. Finally, Wedbush set a $2,700.00 price objective on MercadoLibre and gave the stock an “outperform” rating in a research note on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.