D.B. Root & Company LLC Decreases Position in MercadoLibre, Inc. $MELI

D.B. Root & Company LLC decreased its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 54.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 93 shares of the company’s stock after selling 109 shares during the quarter. D.B. Root & Company LLC’s holdings in MercadoLibre were worth $243,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Key Financial Inc bought a new position in MercadoLibre during the first quarter valued at $25,000. GW&K Investment Management LLC purchased a new position in shares of MercadoLibre during the 1st quarter worth about $25,000. Close Asset Management Ltd grew its holdings in MercadoLibre by 366.7% during the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock valued at $27,000 after purchasing an additional 11 shares during the last quarter. Highline Wealth Partners LLC raised its position in MercadoLibre by 366.7% in the 2nd quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock worth $37,000 after purchasing an additional 11 shares during the period. Finally, Brooklyn Investment Group lifted its stake in MercadoLibre by 650.0% in the first quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock worth $29,000 after purchasing an additional 13 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Price Performance

MELI opened at $2,154.22 on Tuesday. The company has a market capitalization of $109.22 billion, a price-to-earnings ratio of 53.20, a PEG ratio of 1.45 and a beta of 1.46. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. MercadoLibre, Inc. has a 12-month low of $1,646.00 and a 12-month high of $2,645.22. The business’s fifty day simple moving average is $2,378.30 and its 200-day simple moving average is $2,345.89.

MercadoLibre (NASDAQ:MELI) last released 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 during the quarter, compared to analysts’ expectations of $6.57 billion. During the same period last year, the company earned $10.48 earnings per share. The firm’s revenue was up 33.8% compared to the same quarter last year. On average, equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on MELI shares. Jefferies Financial Group reaffirmed a “hold” rating and set a $2,800.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of MercadoLibre in a research report on Saturday, September 27th. Raymond James Financial reiterated a “strong-buy” rating and set a $2,750.00 target price on shares of MercadoLibre in a research report on Tuesday, August 5th. Wall Street Zen cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Sunday, June 22nd. Finally, Daiwa Capital Markets initiated coverage on shares of MercadoLibre in a research note on Friday, August 1st. They issued a “buy” rating and a $3,000.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $2,822.78.

About MercadoLibre

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.