MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Rakuten Securities Inc.

Rakuten Securities Inc. lowered its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 56.4% in the 1st quarter, Holdings Channel.com reports. The fund owned 44 shares of the company’s stock after selling 57 shares during the quarter. Rakuten Securities Inc.’s holdings in MercadoLibre were worth $86,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Bank Pictet & Cie Europe AG acquired a new stake in MercadoLibre in the 4th quarter valued at $561,000. Rhumbline Advisers boosted its position in shares of MercadoLibre by 3.9% in the fourth quarter. Rhumbline Advisers now owns 9,928 shares of the company’s stock worth $16,882,000 after buying an additional 377 shares during the period. Montag A & Associates Inc. grew its stake in shares of MercadoLibre by 2.1% in the fourth quarter. Montag A & Associates Inc. now owns 385 shares of the company’s stock valued at $655,000 after buying an additional 8 shares in the last quarter. Allworth Financial LP lifted its position in MercadoLibre by 102.7% during the 4th quarter. Allworth Financial LP now owns 687 shares of the company’s stock worth $1,250,000 after acquiring an additional 348 shares in the last quarter. Finally, Americana Partners LLC boosted its holdings in MercadoLibre by 41.0% in the 4th quarter. Americana Partners LLC now owns 1,371 shares of the company’s stock worth $2,331,000 after acquiring an additional 399 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of MELI stock opened at $2,389.48 on Wednesday. The stock has a market capitalization of $121.15 billion, a price-to-earnings ratio of 58.77, a PEG ratio of 1.37 and a beta of 1.51. MercadoLibre, Inc. has a one year low of $1,550.00 and a one year high of $2,635.88. The company’s 50-day simple moving average is $2,361.70 and its 200-day simple moving average is $2,080.23. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.18 and a current ratio of 1.20.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.82 by $1.92. The firm had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $5.55 billion. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. MercadoLibre’s revenue for the quarter was up 37.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.78 earnings per share. Equities analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on MELI. Barclays increased their price objective on shares of MercadoLibre from $2,500.00 to $3,100.00 and gave the company an “overweight” rating in a research report on Thursday, May 8th. The Goldman Sachs Group raised their price target on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the company a “buy” rating in a report on Wednesday, May 14th. UBS Group set a $3,000.00 price objective on shares of MercadoLibre in a report on Monday, June 2nd. JPMorgan Chase & Co. upped their price objective on shares of MercadoLibre from $2,250.00 to $2,600.00 and gave the company a “neutral” rating in a research report on Thursday, May 22nd. Finally, Benchmark lowered MercadoLibre from a “buy” rating to a “cautious” rating in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, two have given a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, MercadoLibre currently has an average rating of “Moderate Buy” and an average price target of $2,632.50.

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.