Engineers Gate Manager LP trimmed its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 15.3% during the second quarter, Holdings Channel reports. The firm owned 2,217 shares of the company’s stock after selling 399 shares during the period. Engineers Gate Manager LP’s holdings in MercadoLibre were worth $3,763,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also made changes to their positions in the company. Brown Advisory Inc. grew its position in MercadoLibre by 2,494.9% in the 4th quarter. Brown Advisory Inc. now owns 15,362 shares of the company’s stock worth $30,943,000 after purchasing an additional 14,770 shares during the last quarter. Thompson Siegel & Walmsley LLC increased its stake in shares of MercadoLibre by 238.3% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,030 shares of the company’s stock valued at $4,089,000 after purchasing an additional 1,430 shares during the period. CORDA Investment Management LLC. bought a new stake in shares of MercadoLibre during the second quarter valued at approximately $1,241,000. TIAA Trust National Association raised its holdings in shares of MercadoLibre by 10.9% during the fourth quarter. TIAA Trust National Association now owns 11,011 shares of the company’s stock valued at $22,179,000 after buying an additional 1,083 shares during the last quarter. Finally, Deepwater Asset Management LLC boosted its position in shares of MercadoLibre by 38.6% during the fourth quarter. Deepwater Asset Management LLC now owns 7,765 shares of the company’s stock worth $15,641,000 after buying an additional 2,164 shares during the period. Institutional investors own 87.62% of the company’s stock.
Analyst Upgrades and Downgrades
MELI has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. increased their price objective on MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Cantor Fitzgerald lifted their target price on MercadoLibre from $2,150.00 to $2,300.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. BTIG Research reiterated a “buy” rating and set a $2,150.00 price target on shares of MercadoLibre in a research report on Thursday, September 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of MercadoLibre in a research note on Thursday, July 2nd. Finally, Citigroup raised their price target on MercadoLibre from $1,950.00 to $2,000.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, MercadoLibre presently has an average rating of “Moderate Buy” and a consensus price target of $2,272.00.
MercadoLibre Trading Down 0.5%
Shares of NASDAQ:MELI opened at $1,897.37 on Friday. The company has a 50 day moving average of $1,878.13 and a 200-day moving average of $1,768.31. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. The firm has a market cap of $96.20 billion, a P/E ratio of 51.60, a P/E/G ratio of 1.30 and a beta of 1.31. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,548.50.
MercadoLibre (NASDAQ:MELI – Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $9.19 EPS for the quarter, beating analysts’ consensus estimates of $8.65 by $0.54. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The business had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same quarter last year, the business earned $10.31 earnings per share. The business’s revenue for the quarter was up 49.8% on a year-over-year basis. As a group, analysts anticipate that MercadoLibre, Inc. will post 39.11 earnings per share for the current fiscal year.
About MercadoLibre
MercadoLibre, Inc is a technology company that operates an online commerce and financial services ecosystem across Latin America. Founded in 1999 by Marcos Galperin, the company began as an online marketplace and has expanded into a broad platform serving consumers, merchants and businesses.
Its marketplace enables users to buy and sell products across categories, while Mercado Pago provides digital payments, online checkout, money transfers and other financial services. The company also offers Mercado Envíos logistics and fulfillment services, Mercado Ads advertising solutions, and credit products through Mercado Crédito.
Recommended Stories
- Five stocks we like better than MercadoLibre
- Rocket Lab Tackles a Supply Chain Bottleneck as the Stock Hunts for a Bottom. Time to Buy?
- Optical Cable Corporation Is Starting to Get the Market’s Attention
- Oil Above $100 Is Creating a New Opportunity Beyond the Major Producers
- Is Nike’s Index Demotion a Warning or a Buying Opportunity?
Want to see what other hedge funds are holding MELI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MercadoLibre, Inc. (NASDAQ:MELI – Free Report).
Receive News & Ratings for MercadoLibre Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MercadoLibre and related companies with MarketBeat.com's FREE daily email newsletter.
