Mirae Asset Global Investments Co. Ltd. Sells 1,420 Shares of MercadoLibre, Inc. $MELI

Mirae Asset Global Investments Co. Ltd. cut its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 4.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,175 shares of the company’s stock after selling 1,420 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in MercadoLibre were worth $78,866,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of MELI. Assenagon Asset Management S.A. raised its stake in shares of MercadoLibre by 170.9% in the first quarter. Assenagon Asset Management S.A. now owns 274,960 shares of the company’s stock worth $536,411,000 after purchasing an additional 173,449 shares during the last quarter. Invesco Ltd. raised its stake in shares of MercadoLibre by 22.4% in the first quarter. Invesco Ltd. now owns 570,967 shares of the company’s stock worth $1,113,881,000 after purchasing an additional 104,554 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of MercadoLibre by 21.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company’s stock worth $1,073,823,000 after purchasing an additional 96,283 shares during the last quarter. GQG Partners LLC raised its stake in shares of MercadoLibre by 23.5% in the first quarter. GQG Partners LLC now owns 461,875 shares of the company’s stock worth $901,058,000 after purchasing an additional 87,912 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of MercadoLibre in the first quarter worth approximately $143,367,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $2,246.60 on Friday. 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 business has a fifty day simple moving average of $2,386.09 and a two-hundred day simple moving average of $2,340.46. MercadoLibre, Inc. has a 1 year low of $1,646.00 and a 1 year high of $2,645.22. The company has a market capitalization of $113.90 billion, a P/E ratio of 55.49, a P/E/G ratio of 1.42 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) 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 firm had revenue of $6.79 billion during the quarter, compared to analysts’ expectations of $6.57 billion. During the same period in the prior year, the business earned $10.48 earnings per share. The business’s quarterly revenue was up 33.8% compared to the same quarter last year. On average, analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MELI has been the subject of several analyst reports. Barclays lowered their price objective on 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. Daiwa Capital Markets started coverage on MercadoLibre in a research report on Friday, August 1st. They set a “buy” rating and a $3,000.00 price target for the company. Raymond James Financial reaffirmed a “strong-buy” rating and set a $2,750.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. Cantor Fitzgerald increased their price target on MercadoLibre from $2,700.00 to $2,900.00 and gave the company an “overweight” rating in a research report on Wednesday, September 24th. Finally, Benchmark reaffirmed a “buy” rating and set a $2,875.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, MercadoLibre 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.