MercadoLibre, Inc. $MELI Shares Sold by INCA Investments LLC

INCA Investments LLC lowered its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 33.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 9,949 shares of the company’s stock after selling 4,941 shares during the quarter. MercadoLibre comprises about 10.1% of INCA Investments LLC’s holdings, making the stock its 5th biggest position. INCA Investments LLC’s holdings in MercadoLibre were worth $26,003,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Jennison Associates LLC lifted its holdings in MercadoLibre by 1.6% in the first quarter. Jennison Associates LLC now owns 1,154,116 shares of the company’s stock worth $2,251,531,000 after purchasing an additional 18,731 shares during the period. Invesco Ltd. lifted its holdings in MercadoLibre by 22.4% in the first quarter. Invesco Ltd. now owns 570,967 shares of the company’s stock worth $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 lifted its holdings in 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 worth $1,073,823,000 after purchasing an additional 96,283 shares during the period. Generation Investment Management LLP raised its position in MercadoLibre by 3.3% in the first quarter. Generation Investment Management LLP now owns 530,564 shares of the company’s stock worth $1,035,061,000 after acquiring an additional 16,878 shares in the last quarter. Finally, GQG Partners LLC raised its position in MercadoLibre by 23.5% in the first quarter. GQG Partners LLC now owns 461,875 shares of the company’s stock worth $901,058,000 after acquiring an additional 87,912 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Ratings Changes

MELI has been the topic of several research reports. Daiwa Capital Markets initiated coverage on shares of MercadoLibre in a research report on Friday, August 1st. They issued a “buy” rating and a $3,000.00 price target on the stock. Barclays dropped their price target on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 23rd. Susquehanna dropped their price target 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. Scotiabank initiated coverage on shares of MercadoLibre in a research report on Monday, July 28th. They issued a “sector outperform” rating and a $3,500.00 price target on the stock. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $2,750.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. One investment 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $2,810.88.

MercadoLibre Price Performance

NASDAQ MELI opened at $2,048.35 on Thursday. The stock’s 50-day moving average price is $2,348.72 and its two-hundred day moving average price is $2,345.35. 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 company has a market cap of $103.85 billion, a PE ratio of 50.59, a PEG ratio of 1.46 and a beta of 1.46. MercadoLibre, Inc. has a 1 year low of $1,646.00 and a 1 year high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $12.01 by ($1.70). The company had revenue of $6.79 billion for 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%.MercadoLibre’s quarterly revenue was up 33.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $10.48 EPS. On average, analysts predict 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.