MercadoLibre, Inc. $MELI Position Trimmed by Zevin Asset Management LLC

Zevin Asset Management LLC trimmed its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 11.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 14,525 shares of the company’s stock after selling 1,788 shares during the period. MercadoLibre makes up approximately 5.5% of Zevin Asset Management LLC’s portfolio, making the stock its largest holding. Zevin Asset Management LLC’s holdings in MercadoLibre were worth $37,962,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in MELI. Key Financial Inc bought a new stake in MercadoLibre in the first quarter worth $25,000. GW&K Investment Management LLC bought a new stake in shares of MercadoLibre during the first quarter valued at approximately $25,000. Close Asset Management Ltd lifted its position 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 acquiring an additional 11 shares in the last quarter. Highline Wealth Partners LLC boosted its stake in MercadoLibre by 366.7% during the 2nd quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock valued at $37,000 after purchasing an additional 11 shares during the last quarter. Finally, Brooklyn Investment Group raised its stake in shares of MercadoLibre by 650.0% in the first quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock worth $29,000 after purchasing an additional 13 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on MELI. Wedbush lifted their price objective on MercadoLibre from $2,700.00 to $2,800.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Daiwa Capital Markets began coverage on shares of MercadoLibre in a research note on Friday, August 1st. They issued a “buy” rating and a $3,000.00 price target for the company. 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. Scotiabank began coverage on shares of MercadoLibre in a research report on Monday, July 28th. They issued a “sector outperform” rating and a $3,500.00 target price for the company. Finally, JPMorgan Chase & Co. boosted their target price on shares of MercadoLibre from $2,600.00 to $2,650.00 and gave the company a “neutral” rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, MercadoLibre currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,861.25.

MercadoLibre Price Performance

NASDAQ MELI opened at $2,099.55 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. MercadoLibre, Inc. has a fifty-two week low of $1,646.00 and a fifty-two week high of $2,645.22. The business’s fifty day moving average is $2,297.65 and its 200 day moving average is $2,375.41. The company has a market capitalization of $106.44 billion, a PE ratio of 51.44, a price-to-earnings-growth ratio of 1.56 and a beta of 1.51.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $8.32 EPS for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $7.19 billion. During the same period in the prior year, the firm posted $7.83 earnings per share. The firm’s revenue for the quarter was up 39.5% on a year-over-year basis. Sell-side analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

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.