Ameliora Wealth Management Ltd. Lowers Stock Position in MercadoLibre, Inc. $MELI

Ameliora Wealth Management Ltd. lowered its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 28.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 71 shares of the company’s stock after selling 28 shares during the quarter. Ameliora Wealth Management Ltd.’s holdings in MercadoLibre were worth $186,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Optimize Financial Inc grew its stake in shares of MercadoLibre by 1.7% during the 1st quarter. Optimize Financial Inc now owns 238 shares of the company’s stock valued at $464,000 after purchasing an additional 4 shares during the period. Sonora Investment Management Group LLC grew its stake in shares of MercadoLibre by 3.1% during the 1st quarter. Sonora Investment Management Group LLC now owns 168 shares of the company’s stock valued at $328,000 after acquiring an additional 5 shares during the period. Beacon Capital Management LLC grew its stake in shares of MercadoLibre by 8.3% during the 1st quarter. Beacon Capital Management LLC now owns 65 shares of the company’s stock valued at $127,000 after acquiring an additional 5 shares during the period. Range Financial Group LLC grew its stake in shares of MercadoLibre by 2.7% during the 2nd quarter. Range Financial Group LLC now owns 188 shares of the company’s stock valued at $491,000 after acquiring an additional 5 shares during the period. Finally, Forum Financial Management LP grew its stake in shares of MercadoLibre by 3.1% during the 1st quarter. Forum Financial Management LP now owns 199 shares of the company’s stock valued at $388,000 after acquiring an additional 6 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $2,154.22 on Tuesday. The stock’s fifty day moving average is $2,378.30 and its two-hundred day moving average is $2,345.89. The company has a market capitalization of $109.22 billion, a PE ratio of 53.20, a price-to-earnings-growth ratio of 1.45 and a beta of 1.46. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing the consensus estimate of $12.01 by ($1.70). The business had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The business’s revenue was up 33.8% compared to the same quarter last year. During the same period last year, the company earned $10.48 EPS. As a group, analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

MELI has been the subject of a number of recent research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of MercadoLibre in a research note on Saturday, September 27th. Scotiabank started coverage on MercadoLibre in a report on Monday, July 28th. They set a “sector outperform” rating and a $3,500.00 price objective on the stock. Citigroup decreased their price target on MercadoLibre from $2,900.00 to $2,850.00 and set a “buy” rating on the stock in a report on Monday, August 18th. Wall Street Zen lowered MercadoLibre from a “buy” rating to a “hold” rating in a report on Sunday, June 22nd. Finally, JPMorgan Chase & Co. decreased their price target on MercadoLibre from $2,700.00 to $2,600.00 and set a “neutral” rating on the stock in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and an average price target of $2,822.78.

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.