Westpac Banking Corp Has $3.72 Million Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Westpac Banking Corp trimmed its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 11.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,908 shares of the company’s stock after selling 243 shares during the period. Westpac Banking Corp’s holdings in MercadoLibre were worth $3,722,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Banco Santander S.A. grew its position in MercadoLibre by 221.9% in the 1st quarter. Banco Santander S.A. now owns 2,746 shares of the company’s stock worth $5,357,000 after purchasing an additional 1,893 shares during the last quarter. Prospect Financial Services LLC grew its position in MercadoLibre by 41.7% in the 1st quarter. Prospect Financial Services LLC now owns 340 shares of the company’s stock worth $663,000 after purchasing an additional 100 shares during the last quarter. Stratos Investment Management LLC acquired a new stake in MercadoLibre in the 1st quarter worth $203,000. JARISLOWSKY FRASER Ltd grew its position in MercadoLibre by 43.6% in the 4th quarter. JARISLOWSKY FRASER Ltd now owns 3,249 shares of the company’s stock worth $5,525,000 after purchasing an additional 987 shares during the last quarter. Finally, Avant Financial Advisors LLC acquired a new stake in MercadoLibre in the 4th quarter worth $316,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Price Performance

MELI opened at $2,292.04 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. The stock has a market capitalization of $116.21 billion, a P/E ratio of 56.61, a price-to-earnings-growth ratio of 1.47 and a beta of 1.46. The company’s 50 day simple moving average is $2,431.57 and its 200-day simple moving average is $2,250.90. MercadoLibre, Inc. has a one year low of $1,646.00 and a one year high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Monday, August 4th. The company reported $10.31 earnings per share for the quarter, missing the consensus estimate of $12.01 by ($1.70). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%. The company had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.57 billion. During the same quarter last year, the firm earned $10.48 EPS. The business’s revenue for the quarter was up 33.8% on a year-over-year basis. Sell-side analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MELI has been the topic of several recent research reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $2,700.00 target price on shares of MercadoLibre in a research report on Tuesday, August 5th. Scotiabank initiated coverage on shares of MercadoLibre in a research report on Monday, July 28th. They set a “sector outperform” rating and a $3,500.00 target price on the stock. Citigroup reiterated a “buy” rating on shares of MercadoLibre in a research report on Friday, June 6th. Wall Street Zen lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Sunday, June 22nd. Finally, Daiwa Capital Markets initiated coverage on shares of MercadoLibre in a research report on Friday, August 1st. They set a “buy” rating and a $3,000.00 target price on the stock. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average price target of $2,795.00.

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.