Myriad Asset Management US LP Decreases Position in MercadoLibre, Inc. $MELI

Myriad Asset Management US LP trimmed its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 50.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,631 shares of the company’s stock after selling 1,634 shares during the quarter. MercadoLibre makes up about 2.8% of Myriad Asset Management US LP’s investment portfolio, making the stock its 6th biggest position. Myriad Asset Management US LP’s holdings in MercadoLibre were worth $4,263,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Banco Santander S.A. grew its stake in MercadoLibre by 221.9% during the first quarter. Banco Santander S.A. now owns 2,746 shares of the company’s stock worth $5,357,000 after buying an additional 1,893 shares during the last quarter. Prospect Financial Services LLC grew its stake in MercadoLibre by 41.7% during the first quarter. Prospect Financial Services LLC now owns 340 shares of the company’s stock worth $663,000 after buying an additional 100 shares during the last quarter. Stratos Investment Management LLC bought a new stake in MercadoLibre during the first quarter worth about $203,000. Avant Financial Advisors LLC bought a new stake in MercadoLibre during the fourth quarter worth about $316,000. Finally, Ground Swell Capital LLC bought a new stake in shares of MercadoLibre during the first quarter valued at approximately $439,000. 87.62% of the stock is owned by institutional investors.

Analyst Ratings Changes

MELI has been the topic of several research analyst reports. Raymond James Financial reissued a “strong-buy” rating and set a $2,750.00 price target on shares of MercadoLibre in a research note on Tuesday, August 5th. Jefferies Financial Group reissued a “hold” rating and set a $2,800.00 price target on shares of MercadoLibre in a research note 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 company a “neutral” rating in a research note on Thursday, August 7th. Barclays decreased their price target on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 23rd. 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 research note on Thursday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average price target of $2,817.22.

MercadoLibre Price Performance

Shares of MELI stock opened at $2,446.32 on Thursday. MercadoLibre, Inc. has a 12-month low of $1,646.00 and a 12-month high of $2,645.22. The firm has a market capitalization of $124.02 billion, a price-to-earnings ratio of 60.42, a price-to-earnings-growth ratio of 1.55 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 0.61. The firm has a fifty day moving average of $2,379.33 and a 200-day moving average of $2,311.06.

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