MML Investors Services LLC lowered its stake in shares of Mercadolibre Inc (NASDAQ:MELI) by 10.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,553 shares of the company’s stock after selling 188 shares during the quarter. MML Investors Services LLC’s holdings in Mercadolibre were worth $789,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Baillie Gifford & Co. grew its holdings in shares of Mercadolibre by 2.3% during the 4th quarter. Baillie Gifford & Co. now owns 5,208,620 shares of the company’s stock worth $1,525,344,000 after purchasing an additional 117,948 shares during the period. FMR LLC grew its holdings in shares of Mercadolibre by 11.3% during the 4th quarter. FMR LLC now owns 1,017,995 shares of the company’s stock worth $298,119,000 after purchasing an additional 103,215 shares during the period. Norges Bank purchased a new stake in shares of Mercadolibre during the 4th quarter worth about $110,161,000. WCM Investment Management LLC grew its holdings in shares of Mercadolibre by 8.2% during the 4th quarter. WCM Investment Management LLC now owns 347,514 shares of the company’s stock worth $101,770,000 after purchasing an additional 26,481 shares during the period. Finally, Jennison Associates LLC grew its holdings in shares of Mercadolibre by 15.5% during the 4th quarter. Jennison Associates LLC now owns 330,660 shares of the company’s stock worth $96,834,000 after purchasing an additional 44,327 shares during the period. 84.68% of the stock is owned by institutional investors.
MELI has been the subject of a number of research reports. BBA Icatu Securities cut Mercadolibre from an “outperform” rating to an “underperform” rating and boosted their target price for the stock from $400.00 to $520.00 in a report on Wednesday, May 8th. ValuEngine cut Mercadolibre from a “strong-buy” rating to a “buy” rating in a report on Monday, June 3rd. Susquehanna Bancshares upgraded Mercadolibre from a “negative” rating to a “neutral” rating in a report on Friday, May 3rd.
BidaskClub upgraded Mercadolibre from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 6th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $460.00 target price on shares of Mercadolibre in a report on Wednesday, February 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $500.08.
Mercadolibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.14. The firm had revenue of $474.00 million during the quarter, compared to analysts’ expectations of $423.19 million. Mercadolibre had a negative return on equity of 1.55% and a negative net margin of 0.74%. Mercadolibre’s quarterly revenue was up 47.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.29) EPS. As a group, sell-side analysts forecast that Mercadolibre Inc will post 1.16 earnings per share for the current fiscal year.
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MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, 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, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.
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