MercadoLibre, Inc. $MELI Shares Sold by PKO Investment Management Joint Stock Co

PKO Investment Management Joint Stock Co lowered its position in MercadoLibre, Inc. (NASDAQ:MELI) by 6.7% in the second quarter, HoldingsChannel reports. The fund owned 1,400 shares of the company’s stock after selling 100 shares during the quarter. PKO Investment Management Joint Stock Co’s holdings in MercadoLibre were worth $3,659,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Key Financial Inc purchased a new stake in shares of MercadoLibre during the first quarter worth about $25,000. GW&K Investment Management LLC acquired a new position in MercadoLibre in the 1st quarter valued at about $25,000. Close Asset Management Ltd boosted its holdings in MercadoLibre by 366.7% in the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock valued at $27,000 after purchasing an additional 11 shares during the last quarter. Highline Wealth Partners LLC lifted its holdings in shares of MercadoLibre by 366.7% in the 2nd quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock worth $37,000 after acquiring an additional 11 shares during the last quarter. Finally, Brooklyn Investment Group lifted its holdings in shares of MercadoLibre by 650.0% in the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock worth $29,000 after acquiring an additional 13 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Up 0.6%

Shares of NASDAQ:MELI opened at $2,161.11 on Friday. The company 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 firm’s 50-day simple moving average is $2,315.64 and its 200-day simple moving average is $2,355.76. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. MercadoLibre, Inc. has a fifty-two week low of $1,646.00 and a fifty-two week high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data 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 net margin of 8.52% and a return on equity of 43.06%. The company had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.57 billion. During the same quarter last year, the business earned $10.48 EPS. The firm’s revenue for the quarter was up 33.8% on a year-over-year basis. As a group, equities research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have 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 report on Monday, October 13th. Weiss Ratings reissued a “buy (b)” rating on shares of MercadoLibre in a research report on Wednesday, October 8th. Daiwa Capital Markets assumed coverage on shares of MercadoLibre in a research report on Friday, August 1st. They issued a “buy” rating and a $3,000.00 price objective on the stock. Wedbush set a $2,700.00 price objective on shares of MercadoLibre and gave the company an “outperform” rating in a research report on Tuesday, August 5th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of MercadoLibre from $2,700.00 to $2,600.00 and set a “neutral” rating on the stock in a research report on Friday, October 3rd. One research 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 stock. According to MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and an average target price of $2,799.12.

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.