MercadoLibre, Inc. $MELI Shares Sold by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S trimmed its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 11.6% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 19,960 shares of the company’s stock after selling 2,623 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in MercadoLibre were worth $38,939,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Meiji Yasuda Life Insurance Co raised its holdings 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 valued at $1,699,000 after buying an additional 5 shares during the last quarter. Formidable Asset Management LLC raised its holdings in shares of MercadoLibre by 3.2% in the fourth quarter. Formidable Asset Management LLC now owns 160 shares of the company’s stock valued at $272,000 after buying an additional 5 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of MercadoLibre by 4.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 118 shares of the company’s stock valued at $201,000 after buying an additional 5 shares during the last quarter. Sonora Investment Management Group LLC raised its holdings in shares of MercadoLibre by 3.1% in the first quarter. Sonora Investment Management Group LLC now owns 168 shares of the company’s stock valued at $328,000 after buying an additional 5 shares during the last quarter. Finally, Beacon Capital Management LLC raised its holdings in shares of MercadoLibre by 8.3% in the first quarter. Beacon Capital Management LLC now owns 65 shares of the company’s stock valued at $127,000 after buying an additional 5 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MELI has been the subject of a number of research reports. UBS Group set a $3,000.00 target price on shares of MercadoLibre in a report on Monday, June 2nd. Wedbush set a $2,700.00 target price on shares of MercadoLibre and gave the company an “outperform” rating in a report on Tuesday, August 5th. JPMorgan Chase & Co. increased their price target on shares of MercadoLibre from $2,600.00 to $2,700.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Daiwa Capital Markets started coverage on shares of MercadoLibre in a report on Friday, August 1st. They set a “buy” rating and a $3,000.00 price target for the company. Finally, Susquehanna reissued a “positive” rating and set a $2,975.00 price target (up from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $2,817.22.

MercadoLibre Trading Down 1.2%

Shares of MELI opened at $2,364.01 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 firm has a 50 day simple moving average of $2,412.88 and a 200-day simple moving average of $2,266.66. MercadoLibre, Inc. has a 1-year low of $1,646.00 and a 1-year high of $2,645.22. The stock has a market cap of $119.86 billion, a price-to-earnings ratio of 58.39, a price-to-earnings-growth ratio of 1.52 and a beta of 1.46.

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

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.