MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by University of Texas Texas AM Investment Management Co.

University of Texas Texas AM Investment Management Co. cut its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 44.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 520 shares of the company’s stock after selling 418 shares during the period. University of Texas Texas AM Investment Management Co.’s holdings in MercadoLibre were worth $1,014,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Prospect Financial Services LLC raised its holdings in shares of MercadoLibre by 41.7% during the first quarter. Prospect Financial Services LLC now owns 340 shares of the company’s stock valued at $663,000 after acquiring an additional 100 shares during the period. Stratos Investment Management LLC acquired a new stake in shares of MercadoLibre during the first quarter valued at approximately $203,000. JARISLOWSKY FRASER Ltd raised its holdings in shares of MercadoLibre by 43.6% during the fourth quarter. JARISLOWSKY FRASER Ltd now owns 3,249 shares of the company’s stock valued at $5,525,000 after acquiring an additional 987 shares during the period. Avant Financial Advisors LLC acquired a new stake in shares of MercadoLibre during the fourth quarter valued at approximately $316,000. Finally, Blue Sky Capital Consultants Group Inc. acquired a new stake in shares of MercadoLibre during the fourth quarter valued at approximately $2,500,000. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Stock Performance

Shares of MELI opened at $2,362.56 on Monday. The company’s fifty day moving average is $2,475.90 and its 200-day moving average is $2,208.61. MercadoLibre, Inc. has a 12 month low of $1,579.78 and a 12 month high of $2,645.22. The firm has a market cap of $119.78 billion, a price-to-earnings ratio of 58.11, a price-to-earnings-growth ratio of 1.40 and a beta of 1.49. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.57.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, topping 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 company had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.55 billion. During the same quarter in the prior year, the business posted $6.78 EPS. MercadoLibre’s quarterly revenue was up 37.0% on a year-over-year basis. Equities analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. UBS Group set a $3,000.00 price target on shares of MercadoLibre in a report on Monday, June 2nd. Cantor Fitzgerald dropped their target price on MercadoLibre from $2,900.00 to $2,700.00 and set an “overweight” rating on the stock in a report on Wednesday, June 11th. Benchmark downgraded MercadoLibre from a “buy” rating to a “cautious” rating in a report on Thursday, May 1st. Susquehanna reiterated a “positive” rating and issued a $2,975.00 price objective (up previously from $2,840.00) on shares of MercadoLibre in a research note on Thursday, June 26th. Finally, Wall Street Zen lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Sunday, June 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $2,639.69.

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.