Cozad Asset Management Inc. Cuts Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Cozad Asset Management Inc. reduced its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 4.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 228 shares of the company’s stock after selling 11 shares during the period. Cozad Asset Management Inc.’s holdings in MercadoLibre were worth $445,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Key Financial Inc acquired a new position in shares of MercadoLibre in the 1st quarter valued at $25,000. GW&K Investment Management LLC purchased a new position in MercadoLibre during the 1st quarter worth $25,000. Park Square Financial Group LLC purchased a new position in MercadoLibre during the 4th quarter worth $26,000. Covestor Ltd purchased a new position in shares of MercadoLibre in the 4th quarter valued at about $27,000. Finally, Close Asset Management Ltd increased its holdings in shares of MercadoLibre by 366.7% in the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock valued at $27,000 after purchasing an additional 11 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MELI. Jefferies Financial Group reiterated a “hold” rating and issued a $2,800.00 price target (up previously from $2,450.00) on shares of MercadoLibre in a report on Thursday, June 5th. UBS Group set a $3,000.00 price target on shares of MercadoLibre in a research note on Monday, June 2nd. Susquehanna reissued a “positive” rating and issued a $2,975.00 target price (up from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. Citigroup reissued a “buy” rating on shares of MercadoLibre in a research report on Friday, June 6th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of MercadoLibre in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $2,690.29.

MercadoLibre Stock Down 0.1%

MercadoLibre stock opened at $2,381.39 on Thursday. The firm has a market capitalization of $120.74 billion, a P/E ratio of 58.57, a P/E/G ratio of 1.42 and a beta of 1.49. The company has a 50-day simple moving average of $2,463.12 and a 200-day simple moving average of $2,215.13. MercadoLibre, Inc. has a one year low of $1,579.78 and a one year high of $2,645.22. 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 posted its quarterly earnings data 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 9.21% and a return on equity of 48.46%. The company’s quarterly revenue was up 37.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.78 earnings per share. As a group, equities analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current 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.