Mitchell Capital Management Co. Sells 858 Shares of MercadoLibre, Inc. $MELI

Mitchell Capital Management Co. lessened its position in MercadoLibre, Inc. (NASDAQ:MELI) by 40.6% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,254 shares of the company’s stock after selling 858 shares during the period. Mitchell Capital Management Co.’s holdings in MercadoLibre were worth $3,027,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of MELI. Bison Wealth LLC acquired a new stake in MercadoLibre in the 4th quarter worth $206,000. Yousif Capital Management LLC acquired a new stake in MercadoLibre in the 1st quarter worth $261,000. CX Institutional acquired a new stake in MercadoLibre in the 1st quarter worth $224,000. Fifth Third Bancorp grew its position in MercadoLibre by 5.2% in the 1st quarter. Fifth Third Bancorp now owns 2,038 shares of the company’s stock worth $3,976,000 after purchasing an additional 101 shares during the last quarter. Finally, CVA Family Office LLC grew its position in MercadoLibre by 12.7% in the 1st quarter. CVA Family Office LLC now owns 71 shares of the company’s stock worth $139,000 after purchasing an additional 8 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Jefferies Financial Group restated a “hold” rating and issued a $2,800.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. Weiss Ratings restated a “buy (b)” rating on shares of MercadoLibre in a research report on Wednesday, October 8th. Susquehanna reiterated a “positive” rating and set a $2,975.00 target price (up from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. Benchmark reiterated a “buy” rating and set a $2,875.00 target price on shares of MercadoLibre in a research report on Tuesday, August 5th. Finally, Wedbush set a $2,700.00 target price on shares of MercadoLibre and gave the company an “outperform” rating in a research report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, MercadoLibre presently has an average rating of “Moderate Buy” and an average price target of $2,815.29.

MercadoLibre Price Performance

Shares of MercadoLibre stock opened at $2,133.67 on Monday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. The firm’s 50-day simple moving average is $2,363.50 and its 200-day simple moving average is $2,347.84. MercadoLibre, Inc. has a twelve month low of $1,646.00 and a twelve month high of $2,645.22. The firm has a market cap of $108.18 billion, a P/E ratio of 52.70, a price-to-earnings-growth ratio of 1.43 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI) last released 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). The firm had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. MercadoLibre’s quarterly revenue was up 33.8% on a year-over-year basis. During the same quarter last year, the firm earned $10.48 earnings per share. As a group, research analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

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.