IFC Advisors LLC Sells 28 Shares of MercadoLibre, Inc. $MELI

IFC Advisors LLC reduced its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 20.4% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 109 shares of the company’s stock after selling 28 shares during the quarter. IFC Advisors LLC’s holdings in MercadoLibre were worth $285,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MELI. Key Financial Inc acquired a new stake in MercadoLibre in the 1st quarter valued at $25,000. GW&K Investment Management LLC acquired a new stake in MercadoLibre in the 1st quarter valued at $25,000. Close Asset Management Ltd increased its stake in MercadoLibre by 366.7% in the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock valued at $27,000 after buying an additional 11 shares during the last quarter. Brooklyn Investment Group increased its stake in MercadoLibre by 650.0% in the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock valued at $29,000 after buying an additional 13 shares during the last quarter. Finally, Twin Tree Management LP bought a new position in shares of MercadoLibre in the 1st quarter valued at about $29,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Wall Street Zen downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Sunday, June 22nd. Jefferies Financial Group reissued a “hold” rating and issued a $2,800.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 5th. Scotiabank started coverage on shares of MercadoLibre in a research report on Monday, July 28th. They issued a “sector outperform” rating and a $3,500.00 price objective for the company. Citigroup reduced their target price on shares of MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating for the company in a report on Thursday, October 9th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of MercadoLibre in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average price target of $2,810.88.

MercadoLibre Price Performance

Shares of MercadoLibre stock opened at $2,175.91 on Tuesday. MercadoLibre, Inc. has a twelve month low of $1,646.00 and a twelve month high of $2,645.22. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. The company has a 50-day simple moving average of $2,359.10 and a two-hundred day simple moving average of $2,348.74. The stock has a market capitalization of $110.32 billion, a price-to-earnings ratio of 53.74, a price-to-earnings-growth ratio of 1.43 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Monday, August 4th. The company reported $10.31 earnings per share for the quarter, missing the consensus estimate of $12.01 by ($1.70). The business had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.MercadoLibre’s revenue for the quarter was up 33.8% compared to the same quarter last year. During the same quarter last year, the firm earned $10.48 EPS. Analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current year.

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.