MercadoLibre, Inc. $MELI Stock Sold by Formuepleje A S

Formuepleje A S trimmed its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 24.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 958 shares of the company’s stock after selling 318 shares during the period. Formuepleje A S’s holdings in MercadoLibre were worth $1,656,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in MELI. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors increased its position in MercadoLibre by 19.3% during the 3rd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 297 shares of the company’s stock worth $513,000 after purchasing an additional 48 shares in the last quarter. Lodestone Wealth Management LLC lifted its position in MercadoLibre by 17.4% during the third quarter. Lodestone Wealth Management LLC now owns 331 shares of the company’s stock valued at $571,000 after buying an additional 49 shares in the last quarter. Salem Investment Counselors Inc. lifted its position in MercadoLibre by 7.5% during the third quarter. Salem Investment Counselors Inc. now owns 3,079 shares of the company’s stock valued at $5,322,000 after buying an additional 214 shares in the last quarter. Krilogy Financial LLC lifted its position in MercadoLibre by 24.0% during the third quarter. Krilogy Financial LLC now owns 815 shares of the company’s stock valued at $1,542,000 after buying an additional 158 shares in the last quarter. Finally, Clay Northam Wealth Management LLC grew its stake in MercadoLibre by 30.8% during the third quarter. Clay Northam Wealth Management LLC now owns 884 shares of the company’s stock worth $1,528,000 after buying an additional 208 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Up 1.1%

Shares of MELI traded up $19.36 during mid-day trading on Thursday, reaching $1,858.47. 191,192 shares of the stock traded hands, compared to its average volume of 535,930. The firm has a market cap of $94.22 billion, a price-to-earnings ratio of 50.57, a P/E/G ratio of 1.32 and a beta of 1.31. The stock has a fifty day simple moving average of $1,862.34 and a 200 day simple moving average of $1,781.58. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,428.00. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.53.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, August 6th. The company reported $9.19 earnings per share for the quarter, beating the consensus estimate of $8.65 by $0.54. The business had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The business’s quarterly revenue was up 49.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $10.31 earnings per share. Sell-side analysts expect that MercadoLibre, Inc. will post 38.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Zacks Research raised shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Cantor Fitzgerald reduced their target price on shares of MercadoLibre from $2,300.00 to $2,200.00 and set an “overweight” rating on the stock in a report on Monday. New Street Research began coverage on shares of MercadoLibre in a report on Wednesday, September 23rd. They set a “buy” rating and a $2,450.00 target price on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MercadoLibre in a research report on Tuesday, September 29th. Finally, Citigroup lowered their price target on MercadoLibre from $2,150.00 to $2,100.00 and set a “neutral” rating for the company in a report on Tuesday. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,251.88.

MercadoLibre Profile

MercadoLibre, Inc (NASDAQ:MELI) operates a technology platform serving commerce and financial-services customers across Latin America. Its online marketplace connects buyers and sellers, offering products across categories including electronics, apparel, home goods, automotive products and consumer packaged goods.

The company also provides a range of supporting services, including Mercado Pago, a digital payments platform that enables online and in-person transactions, money transfers and other financial services.