MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Deltec Asset Management LLC

Deltec Asset Management LLC decreased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 5.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,320 shares of the company’s stock after selling 80 shares during the quarter. Deltec Asset Management LLC’s holdings in MercadoLibre were worth $2,575,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Bank Pictet & Cie Europe AG acquired a new stake in shares of MercadoLibre during the fourth quarter worth approximately $561,000. Rhumbline Advisers grew its position in shares of MercadoLibre by 3.9% during 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 in the last quarter. Truist Financial Corp grew its position in shares of MercadoLibre by 0.8% during the fourth quarter. Truist Financial Corp now owns 5,997 shares of the company’s stock worth $10,198,000 after buying an additional 50 shares in the last quarter. Atria Wealth Solutions Inc. grew its position in shares of MercadoLibre by 35.0% during the fourth quarter. Atria Wealth Solutions Inc. now owns 2,151 shares of the company’s stock worth $3,658,000 after buying an additional 558 shares in the last quarter. Finally, Kestra Investment Management LLC acquired a new stake in shares of MercadoLibre during the fourth quarter worth approximately $65,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Performance

MELI stock opened at $2,403.81 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.18 and a current ratio of 1.20. The stock has a market capitalization of $121.87 billion, a price-to-earnings ratio of 59.12, a PEG ratio of 1.34 and a beta of 1.51. MercadoLibre, Inc. has a 1 year low of $1,563.21 and a 1 year high of $2,635.88. The stock’s fifty day moving average is $2,387.65 and its two-hundred day moving average is $2,088.83.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.82 by $1.92. The company 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%. The firm’s quarterly revenue was up 37.0% compared to the same quarter last year. During the same period last year, the business posted $6.78 earnings per share. On average, research analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on MELI. Morgan Stanley reissued an “overweight” rating on shares of MercadoLibre in a research report on Thursday, May 1st. Jefferies Financial Group reissued a “hold” rating and set a $2,800.00 price target (up previously from $2,450.00) on shares of MercadoLibre in a research report on Thursday, June 5th. The Goldman Sachs Group raised their price objective on MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a “buy” rating in a research note on Wednesday, May 14th. Benchmark cut MercadoLibre from a “buy” rating to a “cautious” rating in a research note on Thursday, May 1st. Finally, UBS Group set a $3,000.00 price objective on MercadoLibre in a research note on Monday, June 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average target price of $2,632.50.

About MercadoLibre

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.