Stableford Capital II LLC Sells 33 Shares of MercadoLibre, Inc. $MELI

Stableford Capital II LLC reduced its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,953 shares of the company’s stock after selling 33 shares during the quarter. MercadoLibre accounts for approximately 1.9% of Stableford Capital II LLC’s holdings, making the stock its 13th biggest position. Stableford Capital II LLC’s holdings in MercadoLibre were worth $5,104,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Invesco Ltd. raised its holdings in MercadoLibre by 22.4% in the 1st quarter. Invesco Ltd. now owns 570,967 shares of the company’s stock valued at $1,113,881,000 after acquiring an additional 104,554 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of MercadoLibre by 21.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company’s stock valued at $1,073,823,000 after purchasing an additional 96,283 shares during the period. GQG Partners LLC raised its stake in shares of MercadoLibre by 23.5% in the first quarter. GQG Partners LLC now owns 461,875 shares of the company’s stock valued at $901,058,000 after purchasing an additional 87,912 shares in the last quarter. Nuveen LLC acquired a new position in shares of MercadoLibre in the first quarter valued at $143,367,000. Finally, Goldman Sachs Group Inc. lifted its position in MercadoLibre by 18.7% in the first quarter. Goldman Sachs Group Inc. now owns 450,444 shares of the company’s stock worth $878,757,000 after purchasing an additional 70,834 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Price Performance

Shares of MercadoLibre stock opened at $2,048.35 on Thursday. The stock has a market capitalization of $103.85 billion, a price-to-earnings ratio of 50.59, a P/E/G ratio of 1.46 and a beta of 1.46. The firm’s 50-day moving average price is $2,348.72 and its two-hundred day moving average price is $2,345.35. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. MercadoLibre, Inc. has a 1-year low of $1,646.00 and a 1-year high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 8.52% and a return on equity of 43.06%. The business’s revenue was up 33.8% on a year-over-year basis. During the same quarter last year, the firm posted $10.48 EPS. On average, equities analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Cantor Fitzgerald boosted their price target on shares of MercadoLibre from $2,700.00 to $2,900.00 and gave the company an “overweight” rating in a report on Wednesday, September 24th. Wedbush set a $2,700.00 target price on shares of MercadoLibre and gave the company an “outperform” rating in a research report on Tuesday, August 5th. Daiwa Capital Markets initiated coverage on shares of MercadoLibre in a research report on Friday, August 1st. They issued a “buy” rating and a $3,000.00 price target for the company. Benchmark restated a “buy” rating and set a $2,875.00 price target on shares of MercadoLibre in a research note on Tuesday, August 5th. Finally, Citigroup lowered their price objective on MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating on the stock in a research note on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $2,810.88.

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.