Atria Investments Inc Sells 703 Shares of MercadoLibre, Inc. $MELI

Atria Investments Inc trimmed its position in MercadoLibre, Inc. (NASDAQ:MELI) by 24.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,164 shares of the company’s stock after selling 703 shares during the quarter. Atria Investments Inc’s holdings in MercadoLibre were worth $4,359,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Weitz Investment Management Inc. bought a new stake in shares of MercadoLibre in the third quarter worth about $8,647,000. Barlow Wealth Partners Inc. increased its holdings in shares of MercadoLibre by 126.7% in the third quarter. Barlow Wealth Partners Inc. now owns 11,505 shares of the company’s stock worth $26,886,000 after purchasing an additional 6,429 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of MercadoLibre by 14.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 86,699 shares of the company’s stock worth $202,610,000 after purchasing an additional 10,849 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of MercadoLibre by 18.7% in the third quarter. Principal Financial Group Inc. now owns 48,103 shares of the company’s stock worth $112,414,000 after purchasing an additional 7,570 shares during the last quarter. Finally, Donaldson Capital Management LLC increased its holdings in shares of MercadoLibre by 65.0% in the third quarter. Donaldson Capital Management LLC now owns 2,678 shares of the company’s stock worth $6,258,000 after purchasing an additional 1,055 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Cantor Fitzgerald reduced their target price on MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating on the stock in a report on Tuesday, April 21st. Barclays reduced their target price on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. Scotiabank reduced their price objective on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a research note on Thursday, May 7th. BTIG Research reduced their price objective on MercadoLibre from $2,400.00 to $2,150.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Finally, Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $2,800.00 to $2,600.00 in a research note on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,255.33.

MercadoLibre Trading Down 3.8%

Shares of NASDAQ MELI opened at $1,546.81 on Friday. The business’s 50 day moving average is $1,734.98 and its two-hundred day moving average is $1,945.43. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.15. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,645.22. The stock has a market capitalization of $78.42 billion, a P/E ratio of 40.82, a PEG ratio of 0.92 and a beta of 1.41.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, May 7th. The company reported $8.23 earnings per share for the quarter, missing the consensus estimate of $8.75 by ($0.52). MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The company had revenue of $8.85 billion for the quarter, compared to the consensus estimate of $8.29 billion. During the same period in the previous year, the firm earned $9.74 earnings per share. The company’s revenue was up 49.0% compared to the same quarter last year. As a group, research analysts expect that MercadoLibre, Inc. will post 40.97 EPS for the current year.

MercadoLibre Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.