Tidal Investments LLC Sells 1,198 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Tidal Investments LLC lowered its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 7.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,631 shares of the company’s stock after selling 1,198 shares during the period. Tidal Investments LLC’s holdings in MercadoLibre were worth $24,879,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Human Investing LLC bought a new stake in MercadoLibre during the 4th quarter worth $26,000. Pacific Capital Wealth Advisors Inc. grew its position in MercadoLibre by 220.0% during the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock worth $27,000 after acquiring an additional 11 shares during the last quarter. Brown Lisle Cummings Inc. grew its position in MercadoLibre by 100.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock worth $27,000 after acquiring an additional 8 shares during the last quarter. Covestor Ltd bought a new stake in MercadoLibre during the 4th quarter worth $27,000. Finally, Heck Capital Advisors LLC bought a new stake in MercadoLibre during the 4th quarter worth $32,000. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Price Performance

Shares of MELI stock opened at $2,584.92 on Friday. The firm has a market cap of $131.05 billion, a P/E ratio of 68.57, a P/E/G ratio of 1.12 and a beta of 1.61. MercadoLibre, Inc. has a fifty-two week low of $1,550.00 and a fifty-two week high of $2,610.30. The business’s 50 day moving average price is $2,135.04 and its 200-day moving average price is $1,999.73. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, beating the consensus estimate of $7.82 by $1.92. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The company had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.55 billion. During the same period in the previous year, the company posted $6.78 earnings per share. The firm’s revenue was up 37.0% on a year-over-year basis. On average, equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analyst Ratings Changes

MELI has been the topic of a number of analyst reports. Citigroup reiterated a “buy” rating on shares of MercadoLibre in a research report on Tuesday, April 15th. JPMorgan Chase & Co. upped their price target on MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. Barclays upped their price target on MercadoLibre from $2,500.00 to $3,100.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. The Goldman Sachs Group upped their price target on MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, New Street Research upgraded MercadoLibre from a “neutral” rating to a “buy” rating and raised their target price for the company from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $2,521.33.

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.