Union Bancaire Privee UBP SA Sells 54 Shares of MercadoLibre, Inc. $MELI

Union Bancaire Privee UBP SA lowered its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 2.0% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,713 shares of the company’s stock after selling 54 shares during the quarter. Union Bancaire Privee UBP SA’s holdings in MercadoLibre were worth $7,091,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Optimize Financial Inc raised its position in shares of MercadoLibre by 1.7% in the first quarter. Optimize Financial Inc now owns 238 shares of the company’s stock valued at $464,000 after purchasing an additional 4 shares during the period. Sonora Investment Management Group LLC grew its stake in MercadoLibre by 3.1% during the first quarter. Sonora Investment Management Group LLC now owns 168 shares of the company’s stock valued at $328,000 after acquiring an additional 5 shares in the last quarter. Beacon Capital Management LLC grew its stake in MercadoLibre by 8.3% during the first quarter. Beacon Capital Management LLC now owns 65 shares of the company’s stock valued at $127,000 after acquiring an additional 5 shares in the last quarter. Range Financial Group LLC grew its stake in MercadoLibre by 2.7% during the second quarter. Range Financial Group LLC now owns 188 shares of the company’s stock valued at $491,000 after acquiring an additional 5 shares in the last quarter. Finally, Forum Financial Management LP grew its stake in MercadoLibre by 3.1% during the first quarter. Forum Financial Management LP now owns 199 shares of the company’s stock valued at $388,000 after acquiring an additional 6 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Price Performance

Shares of MercadoLibre stock opened at $2,501.31 on Tuesday. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week high of $2,645.22. The stock has a market capitalization of $126.81 billion, a price-to-earnings ratio of 61.78, a price-to-earnings-growth ratio of 1.61 and a beta of 1.49. The company has a fifty day moving average of $2,394.29 and a 200-day moving average of $2,340.65. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $6.57 billion. During the same quarter in the prior year, the company earned $10.48 earnings per share. The company’s quarterly revenue was up 33.8% compared to the same quarter last year. Equities research analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analysts Set New Price Targets

MELI has been the subject of several recent analyst reports. Barclays reduced their price objective on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an “overweight” rating for the company in a research note on Wednesday, July 23rd. Jefferies Financial Group reissued a “hold” rating and issued a $2,800.00 price target on shares of MercadoLibre in a research note on Tuesday, August 5th. Benchmark reissued a “buy” rating and issued a $2,875.00 price target on shares of MercadoLibre in a research note on Tuesday, August 5th. Scotiabank started coverage on shares of MercadoLibre in a research note on Monday, July 28th. They issued a “sector outperform” rating and a $3,500.00 price target for the company. Finally, Wedbush set a $2,700.00 price target on shares of MercadoLibre and gave the stock an “outperform” rating in a research note on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $2,828.33.

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.