Mission Wealth Management LP Sells 47 Shares of MercadoLibre, Inc. $MELI

Mission Wealth Management LP lowered its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 18.1% during the second quarter, HoldingsChannel.com reports. The fund owned 212 shares of the company’s stock after selling 47 shares during the quarter. Mission Wealth Management LP’s holdings in MercadoLibre were worth $555,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of MELI. Bison Wealth LLC bought a new stake in MercadoLibre during the fourth quarter valued at $206,000. World Investment Advisors boosted its position in MercadoLibre by 11.7% during the first quarter. World Investment Advisors now owns 582 shares of the company’s stock valued at $1,135,000 after acquiring an additional 61 shares during the last quarter. Bank of New York Mellon Corp boosted its position in MercadoLibre by 3.7% during the first quarter. Bank of New York Mellon Corp now owns 120,586 shares of the company’s stock valued at $235,247,000 after acquiring an additional 4,307 shares during the last quarter. Concurrent Investment Advisors LLC boosted its position in MercadoLibre by 31.1% during the first quarter. Concurrent Investment Advisors LLC now owns 451 shares of the company’s stock valued at $880,000 after acquiring an additional 107 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in MercadoLibre by 5.8% during the first quarter. Envestnet Asset Management Inc. now owns 63,431 shares of the company’s stock valued at $123,745,000 after acquiring an additional 3,492 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Down 0.5%

MELI opened at $2,305.69 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. MercadoLibre, Inc. has a fifty-two week low of $1,646.00 and a fifty-two week high of $2,645.22. The firm has a market capitalization of $116.89 billion, a PE ratio of 56.26, a P/E/G ratio of 1.56 and a beta of 1.46. The company’s 50-day moving average is $2,306.76 and its 200 day moving average is $2,377.66.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). MercadoLibre had a return on equity of 41.35% and a net margin of 7.93%.The business had revenue of $7.41 billion during the quarter, compared to analyst estimates of $7.19 billion. During the same quarter in the prior year, the company earned $7.83 EPS. The company’s revenue was up 39.5% on a year-over-year basis. As a group, research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MELI. Susquehanna cut 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 report on Monday, October 13th. Weiss Ratings reissued a “buy (b-)” rating on shares of MercadoLibre in a research report on Friday, October 31st. Citigroup cut their price objective on shares of MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating on the stock in a research report on Thursday, October 9th. Cantor Fitzgerald cut their price objective on shares of MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $2,800.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 5th. One equities 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $2,822.35.

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.