Mirae Asset Global Investments Co. Ltd. Sells 1,420 Shares of MercadoLibre, Inc. $MELI

Mirae Asset Global Investments Co. Ltd. reduced its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 4.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 30,175 shares of the company’s stock after selling 1,420 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.06% of MercadoLibre worth $78,866,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of MELI. Ninety One North America Inc. increased its holdings in MercadoLibre by 21.5% in the 2nd quarter. Ninety One North America Inc. now owns 6,094 shares of the company’s stock worth $15,927,000 after purchasing an additional 1,080 shares in the last quarter. Banco Santander S.A. increased its holdings in MercadoLibre by 221.9% in the 1st quarter. Banco Santander S.A. now owns 2,746 shares of the company’s stock worth $5,357,000 after purchasing an additional 1,893 shares in the last quarter. Prospect Financial Services LLC increased its holdings in MercadoLibre by 41.7% in the 1st quarter. Prospect Financial Services LLC now owns 340 shares of the company’s stock worth $663,000 after purchasing an additional 100 shares in the last quarter. Stratos Investment Management LLC acquired a new position in MercadoLibre in the 1st quarter worth about $203,000. Finally, Bosman Wealth Management LLC increased its holdings in MercadoLibre by 88.5% in the 2nd quarter. Bosman Wealth Management LLC now owns 1,001 shares of the company’s stock worth $2,616,000 after purchasing an additional 470 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on MELI shares. Citigroup lowered their target price on MercadoLibre from $2,900.00 to $2,850.00 and set a “buy” rating for the company in a report on Monday, August 18th. Wall Street Zen cut MercadoLibre from a “buy” rating to a “hold” rating in a report on Sunday, June 22nd. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $2,750.00 target price on shares of MercadoLibre in a report on Tuesday, August 5th. Wedbush set a $2,700.00 price target on MercadoLibre and gave the company an “outperform” rating in a research report on Tuesday, August 5th. Finally, Benchmark reiterated a “buy” rating and issued a $2,875.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, MercadoLibre presently has an average rating of “Moderate Buy” and a consensus target price of $2,828.33.

MercadoLibre Stock Up 3.2%

Shares of MercadoLibre stock opened at $2,246.60 on Friday. MercadoLibre, Inc. has a one year low of $1,646.00 and a one year high of $2,645.22. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. The stock’s 50-day moving average is $2,386.09 and its 200 day moving average is $2,340.46. The firm has a market cap of $113.90 billion, a price-to-earnings ratio of 55.49, a PEG ratio of 1.42 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $12.01 by ($1.70). The firm had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The firm’s revenue was up 33.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $10.48 EPS. Equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current year.

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.