Sonora Investment Management Group LLC Decreases Position in MercadoLibre, Inc. $MELI

Sonora Investment Management Group LLC cut its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 6.0% during the second quarter, HoldingsChannel reports. The firm owned 158 shares of the company’s stock after selling 10 shares during the quarter. Sonora Investment Management Group LLC’s holdings in MercadoLibre were worth $413,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of MELI. Bison Wealth LLC bought a new position in shares of MercadoLibre during the fourth quarter valued at approximately $206,000. Mackenzie Financial Corp grew its stake in shares of MercadoLibre by 48.4% during the fourth quarter. Mackenzie Financial Corp now owns 497 shares of the company’s stock valued at $845,000 after buying an additional 162 shares during the last quarter. Centaurus Financial Inc. bought a new position in shares of MercadoLibre during the fourth quarter valued at approximately $315,000. Versant Capital Management Inc grew its stake in shares of MercadoLibre by 3,750.0% during the first quarter. Versant Capital Management Inc now owns 154 shares of the company’s stock valued at $301,000 after buying an additional 150 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of MercadoLibre by 208,441.4% during the first quarter. GAMMA Investing LLC now owns 60,477 shares of the company’s stock valued at $117,983,000 after buying an additional 60,448 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Down 1.0%

Shares of NASDAQ MELI opened at $2,468.42 on Monday. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $125.15 billion, a PE ratio of 60.96, a price-to-earnings-growth ratio of 1.61 and a beta of 1.49. The stock’s fifty day simple moving average is $2,391.84 and its two-hundred day simple moving average is $2,337.29. MercadoLibre, Inc. has a 12-month low of $1,646.00 and a 12-month high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last announced its 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). The company had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The firm’s revenue was up 33.8% compared to the same quarter last year. During the same period last year, the business posted $10.48 EPS. As a group, analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. UBS Group set a $3,000.00 target price on MercadoLibre in a research note on Monday, June 2nd. Raymond James Financial reissued a “strong-buy” rating and issued a $2,750.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. JPMorgan Chase & Co. increased their price objective on MercadoLibre from $2,600.00 to $2,700.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Benchmark reissued a “buy” rating and issued a $2,875.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. Finally, Wall Street Zen cut MercadoLibre from a “buy” rating to a “hold” rating in a research note on Sunday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $2,828.33.

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.