MercadoLibre, Inc. $MELI Stake Reduced by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. cut its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 3.0% during the 2nd quarter, Holdings Channel.com reports. The fund owned 61,523 shares of the company’s stock after selling 1,908 shares during the quarter. Envestnet Asset Management Inc.’s holdings in MercadoLibre were worth $160,798,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Nisa Investment Advisors LLC increased its stake in MercadoLibre by 143.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 717 shares of the company’s stock worth $1,874,000 after purchasing an additional 423 shares in the last quarter. Resonant Capital Advisors LLC increased its stake in MercadoLibre by 31.0% in the 2nd quarter. Resonant Capital Advisors LLC now owns 148 shares of the company’s stock worth $387,000 after purchasing an additional 35 shares in the last quarter. Atlatl Advisers LLC purchased a new position in MercadoLibre in the 2nd quarter worth about $335,000. Optimum Investment Advisors increased its stake in MercadoLibre by 52.2% in the 2nd quarter. Optimum Investment Advisors now owns 70 shares of the company’s stock worth $183,000 after purchasing an additional 24 shares in the last quarter. Finally, Darden Wealth Group Inc purchased a new position in MercadoLibre in the 2nd quarter worth about $1,085,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on MELI shares. Jefferies Financial Group reissued a “hold” rating and issued a $2,800.00 price target 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 note on Wednesday, October 8th. Wedbush set a $2,700.00 target price on MercadoLibre and gave the company an “outperform” rating in a research note on Tuesday, August 5th. Benchmark reaffirmed a “buy” rating and set a $2,875.00 target price on shares of MercadoLibre in a research note on Tuesday, October 21st. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $2,750.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $2,799.12.

MercadoLibre Trading Up 0.3%

Shares of NASDAQ MELI opened at $2,290.14 on Wednesday. The stock has a market cap of $116.11 billion, a price-to-earnings ratio of 56.56, a PEG ratio of 1.55 and a beta of 1.46. The business has a 50 day simple moving average of $2,312.95 and a 200 day simple moving average of $2,366.69. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing the consensus estimate of $12.01 by ($1.70). The firm had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The company’s quarterly revenue was up 33.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $10.48 EPS. On average, research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share 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.