Mission Wealth Management LP Sells 47 Shares of MercadoLibre, Inc. $MELI

Mission Wealth Management LP decreased its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 18.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 212 shares of the company’s stock after selling 47 shares during the period. Mission Wealth Management LP’s holdings in MercadoLibre were worth $555,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of MELI. Bison Wealth LLC bought a new position in MercadoLibre during the fourth quarter worth about $206,000. World Investment Advisors grew its holdings in MercadoLibre by 11.7% during the first quarter. World Investment Advisors now owns 582 shares of the company’s stock worth $1,135,000 after purchasing an additional 61 shares during the period. Bank of New York Mellon Corp grew its holdings in MercadoLibre by 3.7% during the first quarter. Bank of New York Mellon Corp now owns 120,586 shares of the company’s stock worth $235,247,000 after purchasing an additional 4,307 shares during the period. Concurrent Investment Advisors LLC grew its holdings in MercadoLibre by 31.1% during the first quarter. Concurrent Investment Advisors LLC now owns 451 shares of the company’s stock worth $880,000 after purchasing an additional 107 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in MercadoLibre by 5.8% during the first quarter. Envestnet Asset Management Inc. now owns 63,431 shares of the company’s stock worth $123,745,000 after purchasing an additional 3,492 shares during the period. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $2,305.69 on Wednesday. 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 twelve month low of $1,646.00 and a twelve month high of $2,645.22. The stock has a market cap of $116.89 billion, a price-to-earnings ratio of 56.26, a P/E/G ratio of 1.56 and a beta of 1.46. The company’s fifty day moving average is $2,306.76 and its 200 day moving average is $2,377.66.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $8.32 earnings per share for the quarter, missing the consensus estimate of $9.88 by ($1.56). MercadoLibre had a return on equity of 41.35% and a net margin of 7.93%.The business had revenue of $7.41 billion during the quarter, compared to the consensus estimate of $7.19 billion. During the same period in the prior year, the firm earned $7.83 EPS. The business’s revenue for the quarter was up 39.5% compared to the same quarter last year. Sell-side analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Wall Street Analysts Forecast Growth

MELI has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their price target on MercadoLibre from $2,600.00 to $2,650.00 and gave the stock a “neutral” rating in a report on Monday. Raymond James Financial restated a “strong-buy” rating and set a $2,750.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 5th. Daiwa Capital Markets started coverage on shares of MercadoLibre in a research report on Friday, August 1st. They set a “buy” rating and a $3,000.00 price objective for the company. Barclays boosted their price objective on shares of MercadoLibre from $2,800.00 to $2,900.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $2,800.00 price target on shares of MercadoLibre in a 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, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average target price of $2,822.35.

MercadoLibre 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.