Sargent Investment Group LLC Reduces Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Sargent Investment Group LLC lessened its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 7.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 500 shares of the company’s stock after selling 39 shares during the quarter. Sargent Investment Group LLC’s holdings in MercadoLibre were worth $975,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Capital Research Global Investors raised its holdings in MercadoLibre by 8.0% during the fourth quarter. Capital Research Global Investors now owns 2,415,815 shares of the company’s stock worth $4,108,079,000 after purchasing an additional 179,807 shares during the last quarter. Capital International Investors raised its holdings in MercadoLibre by 38.7% during the fourth quarter. Capital International Investors now owns 1,687,114 shares of the company’s stock worth $2,868,869,000 after purchasing an additional 470,829 shares during the last quarter. Capital World Investors raised its holdings in MercadoLibre by 24.5% during the fourth quarter. Capital World Investors now owns 1,568,602 shares of the company’s stock worth $2,667,386,000 after purchasing an additional 308,973 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in MercadoLibre by 41.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company’s stock worth $2,370,848,000 after purchasing an additional 405,425 shares during the last quarter. Finally, Jennison Associates LLC raised its holdings in MercadoLibre by 1.6% during the first quarter. Jennison Associates LLC now owns 1,154,116 shares of the company’s stock worth $2,251,531,000 after purchasing an additional 18,731 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Cantor Fitzgerald cut their price target on MercadoLibre from $2,900.00 to $2,700.00 and set an “overweight” rating for the company in a report on Wednesday, June 11th. Jefferies Financial Group reissued a “hold” rating and issued a $2,800.00 price target (up from $2,450.00) on shares of MercadoLibre in a report on Thursday, June 5th. Barclays boosted their price target on MercadoLibre from $2,500.00 to $3,100.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. The Goldman Sachs Group lifted their price objective on MercadoLibre from $2,640.00 to $3,000.00 and gave the company a “buy” rating in a research report on Wednesday, May 14th. Finally, UBS Group set a $3,000.00 price target on MercadoLibre in a research report on Monday, June 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,645.94.

MercadoLibre Stock Performance

NASDAQ MELI opened at $2,413.57 on Friday. MercadoLibre, Inc. has a 1 year low of $1,579.78 and a 1 year high of $2,645.22. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $122.37 billion, a price-to-earnings ratio of 59.36, a P/E/G ratio of 1.43 and a beta of 1.49. The firm’s 50 day simple moving average is $2,492.77 and its 200 day simple moving average is $2,184.50.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.82 by $1.92. The firm had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.55 billion. MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. The company’s revenue for the quarter was up 37.0% on a year-over-year basis. During the same quarter last year, the firm earned $6.78 earnings per share. As a group, research analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

About MercadoLibre

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.