Manning & Napier Advisors LLC Sells 8,149 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Manning & Napier Advisors LLC lessened its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 11.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 60,112 shares of the company’s stock after selling 8,149 shares during the quarter. MercadoLibre makes up approximately 1.4% of Manning & Napier Advisors LLC’s portfolio, making the stock its 21st largest holding. Manning & Napier Advisors LLC owned 0.12% of MercadoLibre worth $117,271,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MELI. 1620 Investment Advisors Inc. raised its position in shares of MercadoLibre by 2.5% in the fourth quarter. 1620 Investment Advisors Inc. now owns 203 shares of the company’s stock valued at $346,000 after purchasing an additional 5 shares during the period. Texas Yale Capital Corp. increased its stake in shares of MercadoLibre by 0.3% in the fourth quarter. Texas Yale Capital Corp. now owns 1,634 shares of the company’s stock worth $2,779,000 after purchasing an additional 5 shares during the period. Meiji Yasuda Life Insurance Co increased its stake in shares of MercadoLibre by 0.5% in the fourth quarter. Meiji Yasuda Life Insurance Co now owns 999 shares of the company’s stock worth $1,699,000 after purchasing an additional 5 shares during the period. Formidable Asset Management LLC increased its position in MercadoLibre by 3.2% in the 4th quarter. Formidable Asset Management LLC now owns 160 shares of the company’s stock worth $272,000 after buying an additional 5 shares during the period. Finally, Revolve Wealth Partners LLC increased its position in MercadoLibre by 4.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 118 shares of the company’s stock worth $201,000 after buying an additional 5 shares during the period. Institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MELI. The Goldman Sachs Group lifted their price target on MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a “buy” rating in a research report on Wednesday, May 14th. Morgan Stanley restated an “overweight” rating on shares of MercadoLibre in a report on Thursday, May 1st. Jefferies Financial Group reiterated a “hold” rating and issued a $2,800.00 target price (up previously from $2,450.00) on shares of MercadoLibre in a research note on Thursday, June 5th. Cantor Fitzgerald reduced their target price on shares of MercadoLibre from $2,900.00 to $2,700.00 and set an “overweight” rating for the company in a research note on Wednesday, June 11th. Finally, Benchmark downgraded 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, three have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,632.50.

MercadoLibre Stock Up 0.0%

Shares of NASDAQ MELI opened at $2,403.81 on Friday. The stock has a market cap of $121.87 billion, a PE ratio of 59.12, a PEG ratio of 1.34 and a beta of 1.51. The business has a fifty day moving average of $2,387.65 and a two-hundred day moving average of $2,089.54. MercadoLibre, Inc. has a 52-week low of $1,563.21 and a 52-week high of $2,635.88. 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 results 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. MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. The firm had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.55 billion. During the same period last year, the firm posted $6.78 EPS. The firm’s quarterly revenue was up 37.0% on a year-over-year basis. As a group, equities research analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

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.