MercadoLibre, Inc. $MELI Stake Lowered by Moloney Securities Asset Management LLC

Moloney Securities Asset Management LLC cut its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 0.9% in the 2nd quarter, Holdings Channel reports. The firm owned 560 shares of the company’s stock after selling 5 shares during the quarter. Moloney Securities Asset Management LLC’s holdings in MercadoLibre were worth $1,464,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Ninety One North America Inc. increased its stake in shares of MercadoLibre by 21.5% in the second quarter. Ninety One North America Inc. now owns 6,094 shares of the company’s stock valued at $15,927,000 after purchasing an additional 1,080 shares during the period. Banco Santander S.A. increased its stake in shares of MercadoLibre by 221.9% in the first quarter. Banco Santander S.A. now owns 2,746 shares of the company’s stock valued at $5,357,000 after purchasing an additional 1,893 shares during the period. Stratos Investment Management LLC acquired a new stake in shares of MercadoLibre in the first quarter valued at approximately $203,000. Costello Asset Management INC increased its stake in shares of MercadoLibre by 434.3% in the second quarter. Costello Asset Management INC now owns 577 shares of the company’s stock valued at $1,509,000 after purchasing an additional 469 shares during the period. Finally, Vaughan Nelson Investment Management L.P. increased its stake in shares of MercadoLibre by 8.5% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,257 shares of the company’s stock valued at $5,899,000 after purchasing an additional 177 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on MELI shares. Citigroup dropped their price target on shares of MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating on the stock in a research note on Thursday, October 9th. Benchmark restated a “buy” rating and issued a $2,875.00 price target on shares of MercadoLibre in a research note on Tuesday. Weiss Ratings restated a “buy (b)” rating on shares of MercadoLibre in a research note on Wednesday, October 8th. Susquehanna lowered their price objective on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a research note on Monday, October 13th. Finally, Raymond James Financial reiterated a “strong-buy” rating and set a $2,750.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. One research 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 company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $2,799.12.

MercadoLibre Price Performance

NASDAQ MELI opened at $2,161.11 on Friday. The firm has a market capitalization of $109.57 billion, a PE ratio of 53.37, a P/E/G ratio of 1.46 and a beta of 1.46. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22. 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 company’s 50 day simple moving average is $2,315.64 and its 200 day simple moving average is $2,355.76.

MercadoLibre (NASDAQ:MELI) last issued its earnings results 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). The business had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The company’s quarterly revenue was up 33.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $10.48 earnings per share. As a group, equities research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

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.