Stratos Wealth Partners LTD. Sells 16 Shares of MercadoLibre, Inc. $MELI

Stratos Wealth Partners LTD. cut its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 4.3% in the second quarter, HoldingsChannel.com reports. The fund owned 358 shares of the company’s stock after selling 16 shares during the period. Stratos Wealth Partners LTD.’s holdings in MercadoLibre were worth $936,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in MELI. Key Financial Inc bought a new stake in shares of MercadoLibre in the first quarter worth approximately $25,000. GW&K Investment Management LLC bought a new stake in MercadoLibre during the first quarter valued at approximately $25,000. Close Asset Management Ltd grew its position in MercadoLibre by 366.7% during the first quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock valued at $27,000 after buying an additional 11 shares during the period. Brooklyn Investment Group grew its position in MercadoLibre by 650.0% during the first quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock valued at $29,000 after buying an additional 13 shares during the period. Finally, Twin Tree Management LP bought a new stake in MercadoLibre during the first quarter valued at approximately $29,000. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Stock Performance

MELI opened at $2,142.05 on Wednesday. The firm has a market cap of $108.60 billion, a P/E ratio of 52.90, a PEG ratio of 1.42 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. The company has a 50 day simple moving average of $2,328.33 and a two-hundred day simple moving average of $2,352.79. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18.

MercadoLibre (NASDAQ:MELI) last released 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). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The company had revenue of $6.79 billion during the quarter, compared to analysts’ expectations of $6.57 billion. During the same period last year, the firm posted $10.48 EPS. MercadoLibre’s quarterly revenue was up 33.8% compared to the same quarter last year. Equities analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on MELI shares. Barclays cut their target price on shares of MercadoLibre from $3,000.00 to $2,800.00 and set an “overweight” rating for the company in a research report on Tuesday. 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 cut their target price on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating for the company in a research report on Monday, October 13th. Scotiabank started 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 for the company. Finally, Benchmark reiterated a “buy” rating and issued a $2,875.00 price target on shares of MercadoLibre in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $2,799.12.

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.