IFC Advisors LLC Has $285,000 Stock Position in MercadoLibre, Inc. $MELI

IFC Advisors LLC cut its position in MercadoLibre, Inc. (NASDAQ:MELI) by 20.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 109 shares of the company’s stock after selling 28 shares during the period. IFC Advisors LLC’s holdings in MercadoLibre were worth $285,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. increased its holdings in MercadoLibre by 22.4% during 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of MercadoLibre by 21.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company’s stock valued at $1,073,823,000 after buying an additional 96,283 shares in the last quarter. GQG Partners LLC increased its stake in shares of MercadoLibre by 23.5% in the first quarter. GQG Partners LLC now owns 461,875 shares of the company’s stock valued at $901,058,000 after buying an additional 87,912 shares in the last quarter. Nuveen LLC acquired a new stake in shares of MercadoLibre in the first quarter valued at $143,367,000. Finally, Goldman Sachs Group Inc. increased its stake in shares of MercadoLibre by 18.7% in the first quarter. Goldman Sachs Group Inc. now owns 450,444 shares of the company’s stock valued at $878,757,000 after buying an additional 70,834 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on MELI shares. Susquehanna reduced their target price on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a research report on Monday. Wedbush set a $2,700.00 target price on MercadoLibre and gave the company an “outperform” rating in a research note on Tuesday, August 5th. Citigroup lowered their target price on MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating for the company in a research note on Thursday, October 9th. JPMorgan Chase & Co. lowered their target price on MercadoLibre from $2,700.00 to $2,600.00 and set a “neutral” rating for the company in a research note on Friday, October 3rd. Finally, Daiwa Capital Markets assumed coverage on MercadoLibre in a research note on Friday, August 1st. They issued a “buy” rating and a $3,000.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $2,810.88.

MercadoLibre Trading Up 2.0%

MELI opened at $2,175.91 on Tuesday. The firm’s fifty day moving average is $2,359.10 and its two-hundred day moving average is $2,348.74. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. The firm has a market cap of $110.32 billion, a PE ratio of 53.74, a price-to-earnings-growth ratio of 1.43 and a beta of 1.46. MercadoLibre, Inc. has a twelve month low of $1,646.00 and a twelve month high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Monday, August 4th. The company reported $10.31 earnings per share 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 analyst estimates of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The company’s revenue for the quarter was up 33.8% on a year-over-year basis. During the same quarter last year, the business posted $10.48 earnings per share. Equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS 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.