MercadoLibre, Inc. $MELI Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lessened its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 3.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,523 shares of the company’s stock after selling 1,908 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.12% of MercadoLibre worth $160,798,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Ninety One North America Inc. lifted its stake in MercadoLibre by 21.5% in the second quarter. Ninety One North America Inc. now owns 6,094 shares of the company’s stock valued at $15,927,000 after buying an additional 1,080 shares during the last quarter. Banco Santander S.A. lifted its stake in MercadoLibre by 221.9% in the first quarter. Banco Santander S.A. now owns 2,746 shares of the company’s stock valued at $5,357,000 after buying an additional 1,893 shares during the last quarter. Stratos Investment Management LLC bought a new stake in MercadoLibre in the first quarter valued at $203,000. Costello Asset Management INC lifted its stake in MercadoLibre by 434.3% in the second quarter. Costello Asset Management INC now owns 577 shares of the company’s stock valued at $1,509,000 after buying an additional 469 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its stake in MercadoLibre by 8.5% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,257 shares of the company’s stock valued at $5,899,000 after buying an additional 177 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Price Performance

Shares of MercadoLibre stock opened at $2,290.14 on Wednesday. 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’s 50-day moving average price is $2,312.95 and its two-hundred day moving average price is $2,366.69. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22. The stock has a market cap of $116.11 billion, a PE ratio of 56.56, a price-to-earnings-growth ratio of 1.55 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI) last issued its quarterly 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 business had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.57 billion. During the same quarter last year, the firm posted $10.48 earnings per share. MercadoLibre’s revenue was up 33.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MELI has been the topic of a number of recent research reports. Scotiabank initiated coverage on MercadoLibre in a research note on Monday, July 28th. They issued a “sector outperform” rating and a $3,500.00 target price on the stock. Daiwa Capital Markets initiated coverage on MercadoLibre in a research note on Friday, August 1st. They issued a “buy” rating and a $3,000.00 target price on the stock. 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. Benchmark restated a “buy” rating and set a $2,875.00 price objective on shares of MercadoLibre in a research note on Tuesday, October 21st. Finally, Raymond James Financial restated a “strong-buy” rating and set a $2,750.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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.