Freedom Investment Management Inc. Sells 66 Shares of MercadoLibre, Inc. $MELI

Freedom Investment Management Inc. decreased its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 11.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 519 shares of the company’s stock after selling 66 shares during the period. Freedom Investment Management Inc.’s holdings in MercadoLibre were worth $1,356,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Optimize Financial Inc raised its position in shares of MercadoLibre by 1.7% in the first 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. Range Financial Group LLC grew its stake in MercadoLibre by 2.7% during the second quarter. Range Financial Group LLC now owns 188 shares of the company’s stock valued at $491,000 after acquiring an additional 5 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. grew its stake in MercadoLibre by 26.3% during the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 24 shares of the company’s stock valued at $63,000 after acquiring an additional 5 shares in the last quarter. Forum Financial Management LP grew its stake in MercadoLibre by 3.1% in the 1st quarter. Forum Financial Management LP now owns 199 shares of the company’s stock worth $388,000 after buying an additional 6 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC grew its stake in MercadoLibre by 37.5% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 22 shares of the company’s stock worth $43,000 after buying an additional 6 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of NASDAQ MELI opened at $2,148.32 on Friday. The firm’s 50-day moving average price is $2,320.26 and its 200-day moving average price is $2,353.45. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. The company has a market cap of $108.91 billion, a PE ratio of 53.06, a PEG ratio of 1.41 and a beta of 1.46. 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 results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $12.01 by ($1.70). The company had revenue of $6.79 billion for the quarter, compared to analysts’ expectations 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 in the previous year, the business earned $10.48 EPS. As a group, analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on MELI shares. Benchmark restated a “buy” rating and issued a $2,875.00 price objective on shares of MercadoLibre in a report on Tuesday. Scotiabank began coverage on shares of MercadoLibre in a report on Monday, July 28th. They set a “sector outperform” rating and a $3,500.00 price target for the company. JPMorgan Chase & Co. decreased their price objective on shares of MercadoLibre from $2,700.00 to $2,600.00 and set a “neutral” rating for the company in a report on Friday, October 3rd. Barclays decreased their price objective on shares of MercadoLibre from $3,000.00 to $2,800.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of MercadoLibre in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus price target of $2,799.12.

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.