Roberts Glore & Co. Inc. IL Cuts Stock Position in MercadoLibre, Inc. $MELI

Roberts Glore & Co. Inc. IL cut its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 3.8% in the second quarter, HoldingsChannel.com reports. The fund owned 830 shares of the company’s stock after selling 33 shares during the period. Roberts Glore & Co. Inc. IL’s holdings in MercadoLibre were worth $2,170,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. 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 stake in MercadoLibre in the 1st quarter worth about $25,000. Close Asset Management Ltd increased its stake in MercadoLibre by 366.7% during the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock worth $27,000 after buying an additional 11 shares in the last quarter. Brooklyn Investment Group raised its holdings in shares of MercadoLibre by 650.0% during the first quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock valued at $29,000 after acquiring an additional 13 shares during the last quarter. Finally, Twin Tree Management LP acquired a new position in shares of MercadoLibre during the first quarter valued at approximately $29,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Down 0.9%

NASDAQ MELI opened at $2,108.60 on Friday. The business’s fifty day simple moving average is $2,290.36 and its 200-day simple moving average is $2,377.50. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. The firm has a market cap of $106.90 billion, a PE ratio of 51.45, a P/E/G ratio of 1.56 and a beta of 1.51. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $8.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). MercadoLibre had a net margin of 7.93% and a return on equity of 41.35%. The firm 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 company posted $7.83 EPS. The company’s revenue for the quarter was up 39.5% compared to the same quarter last year. As a group, equities analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on MELI shares. Wedbush lifted their price target on MercadoLibre from $2,700.00 to $2,800.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Susquehanna decreased their price objective on MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a report on Monday, October 13th. Morgan Stanley upped their target price on shares of MercadoLibre from $2,850.00 to $2,950.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. Raymond James Financial reiterated a “strong-buy” rating and issued a $2,750.00 target price on shares of MercadoLibre in a research report on Tuesday, August 5th. Finally, Scotiabank started coverage on shares of MercadoLibre in a research report on Monday, July 28th. They set a “sector outperform” rating and a $3,500.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $2,861.25.

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.