Confluence Investment Management LLC Sells 6 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Confluence Investment Management LLC decreased its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 2.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 204 shares of the company’s stock after selling 6 shares during the quarter. Confluence Investment Management LLC’s holdings in MercadoLibre were worth $398,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Human Investing LLC bought a new position in MercadoLibre in the 4th quarter valued at about $26,000. Park Square Financial Group LLC purchased a new position in MercadoLibre in the 4th quarter valued at approximately $26,000. Brown Lisle Cummings Inc. grew its stake in MercadoLibre by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock valued at $27,000 after buying an additional 8 shares in the last quarter. Covestor Ltd purchased a new position in MercadoLibre in the 4th quarter valued at approximately $27,000. Finally, Heck Capital Advisors LLC purchased a new position in MercadoLibre in the 4th quarter valued at approximately $32,000. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

MercadoLibre stock opened at $2,562.22 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $129.90 billion, a PE ratio of 67.96, a P/E/G ratio of 1.12 and a beta of 1.61. The firm has a fifty day simple moving average of $2,233.35 and a two-hundred day simple moving average of $2,038.68. MercadoLibre, Inc. has a twelve month low of $1,550.00 and a twelve month high of $2,635.88.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, topping the consensus estimate of $7.82 by $1.92. The business had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.55 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The firm’s revenue for the quarter was up 37.0% on a year-over-year basis. During the same period in the previous year, the firm posted $6.78 earnings per share. Research analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Wall Street Zen lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Friday, May 16th. Morgan Stanley restated an “overweight” rating on shares of MercadoLibre in a research report on Thursday, May 1st. The Goldman Sachs Group boosted their price target on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the company a “buy” rating in a research report on Wednesday, May 14th. Susquehanna boosted their price target on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a research report on Friday, February 21st. Finally, Barclays upped their target price on shares of MercadoLibre from $2,500.00 to $3,100.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $2,572.86.

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.