Ethic Inc. Sells 78 Shares of MercadoLibre, Inc. $MELI

Ethic Inc. lowered its position in MercadoLibre, Inc. (NASDAQ:MELI) by 8.5% in the 2nd quarter, Holdings Channel reports. The fund owned 841 shares of the company’s stock after selling 78 shares during the quarter. Ethic Inc.’s holdings in MercadoLibre were worth $2,154,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Invesco Ltd. increased its position 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 buying an additional 104,554 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in MercadoLibre by 21.2% during the 1st 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 position in MercadoLibre by 23.5% during the 1st 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 bought a new position in MercadoLibre during the 1st quarter valued at approximately $143,367,000. Finally, Goldman Sachs Group Inc. increased its position in MercadoLibre by 18.7% during the 1st 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. Institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MELI. Raymond James Financial reaffirmed a “strong-buy” rating and set a $2,750.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of MercadoLibre in a research report on Wednesday, October 8th. Jefferies Financial Group reaffirmed a “hold” rating and set a $2,800.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 5th. JPMorgan Chase & Co. reduced their target price on MercadoLibre from $2,700.00 to $2,600.00 and set a “neutral” rating for the company in a report on Friday, October 3rd. Finally, Wedbush set a $2,700.00 target price on MercadoLibre and gave the stock an “outperform” rating in a report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, MercadoLibre currently has an average rating of “Moderate Buy” and an average price target of $2,799.12.

MercadoLibre Stock Up 0.6%

MercadoLibre stock opened at $2,161.11 on Friday. The firm has a market cap of $109.57 billion, a price-to-earnings ratio of 53.37, a PEG ratio of 1.46 and a beta of 1.46. The stock has a fifty day simple moving average of $2,315.64 and a two-hundred day simple moving average of $2,355.76. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing analysts’ consensus estimates of $12.01 by ($1.70). The business 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 firm’s revenue for the quarter was up 33.8% on a year-over-year basis. During the same period in the previous year, the business posted $10.48 EPS. Equities analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal 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.