MercadoLibre, Inc. $MELI Holdings Cut by Mitchell Capital Management Co.

Mitchell Capital Management Co. decreased its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 40.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,254 shares of the company’s stock after selling 858 shares during the quarter. Mitchell Capital Management Co.’s holdings in MercadoLibre were worth $3,027,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ninety One North America Inc. lifted its position in MercadoLibre by 21.5% in the 2nd quarter. Ninety One North America Inc. now owns 6,094 shares of the company’s stock worth $15,927,000 after buying an additional 1,080 shares in the last quarter. Banco Santander S.A. lifted its position in MercadoLibre by 221.9% in the 1st quarter. Banco Santander S.A. now owns 2,746 shares of the company’s stock worth $5,357,000 after buying an additional 1,893 shares in the last quarter. Stratos Investment Management LLC purchased a new stake in MercadoLibre in the 1st quarter worth approximately $203,000. Vaughan Nelson Investment Management L.P. lifted its position in MercadoLibre by 8.5% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,257 shares of the company’s stock worth $5,899,000 after buying an additional 177 shares in the last quarter. Finally, Costello Asset Management INC lifted its position in MercadoLibre by 434.3% in the 2nd quarter. Costello Asset Management INC now owns 577 shares of the company’s stock worth $1,509,000 after buying an additional 469 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of MercadoLibre from $2,700.00 to $2,600.00 and set a “neutral” rating for the company in a research report on Friday, October 3rd. Susquehanna restated a “positive” rating and set a $2,975.00 price target (up previously from $2,840.00) on shares of MercadoLibre in a research note on Thursday, June 26th. Jefferies Financial Group restated a “hold” rating and set a $2,800.00 price target on shares of MercadoLibre in a research note on Tuesday, August 5th. Weiss Ratings restated a “buy (b)” rating on shares of MercadoLibre in a research note on Wednesday, October 8th. Finally, Scotiabank initiated coverage on shares of MercadoLibre in a research note on Monday, July 28th. They set a “sector outperform” rating and a $3,500.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $2,815.29.

MercadoLibre Stock Performance

Shares of MELI opened at $2,133.67 on Monday. The company has a market capitalization of $108.18 billion, a PE ratio of 52.70, a price-to-earnings-growth ratio of 1.43 and a beta of 1.46. 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. The company’s fifty day moving average price is $2,363.50 and its 200 day moving average price is $2,347.84.

MercadoLibre (NASDAQ:MELI) last announced 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 firm had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The business’s revenue was up 33.8% compared to the same quarter last year. During the same quarter last year, the business earned $10.48 EPS. As a group, analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

About MercadoLibre

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.