IPG Investment Advisors LLC Sells 14 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

IPG Investment Advisors LLC lessened its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 4.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 281 shares of the company’s stock after selling 14 shares during the period. IPG Investment Advisors LLC’s holdings in MercadoLibre were worth $548,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of MELI. Prospect Financial Services LLC boosted its stake in MercadoLibre by 41.7% during the first quarter. Prospect Financial Services LLC now owns 340 shares of the company’s stock valued at $663,000 after buying an additional 100 shares during the period. Stratos Investment Management LLC bought a new position in MercadoLibre in the 1st quarter worth about $203,000. JARISLOWSKY FRASER Ltd raised its holdings in shares of MercadoLibre by 43.6% in the 4th quarter. JARISLOWSKY FRASER Ltd now owns 3,249 shares of the company’s stock valued at $5,525,000 after acquiring an additional 987 shares in the last quarter. Avant Financial Advisors LLC bought a new stake in shares of MercadoLibre during the 4th quarter valued at about $316,000. Finally, Blue Sky Capital Consultants Group Inc. bought a new stake in shares of MercadoLibre during the 4th quarter valued at about $2,500,000. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Up 0.1%

NASDAQ MELI opened at $2,375.92 on Monday. MercadoLibre, Inc. has a 1 year low of $1,646.00 and a 1 year high of $2,645.22. The stock has a market capitalization of $120.46 billion, a PE ratio of 58.43, a PEG ratio of 1.41 and a beta of 1.46. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.20 and a quick ratio of 1.18. The business’s 50-day moving average is $2,455.84 and its 200 day moving average is $2,229.19.

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

Analysts Set New Price Targets

MELI has been the topic of several research analyst reports. Barclays decreased their price objective on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 23rd. Citigroup reissued a “buy” rating on shares of MercadoLibre in a report on Friday, June 6th. Morgan Stanley reaffirmed an “overweight” rating on shares of MercadoLibre in a report on Thursday, May 1st. Cantor Fitzgerald reduced their target price on MercadoLibre from $2,900.00 to $2,700.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 11th. Finally, UBS Group set a $3,000.00 price target on MercadoLibre in a research note on Monday, June 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $2,707.50.

MercadoLibre 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.