Spear Holdings RSC Ltd Sells 5,122 Shares of MercadoLibre, Inc. $MELI

Spear Holdings RSC Ltd lessened its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 23.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,328 shares of the company’s stock after selling 5,122 shares during the quarter. MercadoLibre comprises about 5.8% of Spear Holdings RSC Ltd’s holdings, making the stock its 7th biggest holding. Spear Holdings RSC Ltd’s holdings in MercadoLibre were worth $32,889,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Wilkinson Global Asset Management LLC lifted its position in shares of MercadoLibre by 2.3% during the 3rd quarter. Wilkinson Global Asset Management LLC now owns 226 shares of the company’s stock worth $528,000 after buying an additional 5 shares during the last quarter. Hardy Reed LLC increased its holdings in shares of MercadoLibre by 4.0% in the 3rd quarter. Hardy Reed LLC now owns 131 shares of the company’s stock valued at $306,000 after acquiring an additional 5 shares during the period. Rothschild Investment LLC increased its position in MercadoLibre by 35.7% in the 3rd quarter. Rothschild Investment LLC now owns 19 shares of the company’s stock valued at $44,000 after acquiring an additional 5 shares during the period. Interchange Capital Partners LLC increased its position in MercadoLibre by 2.1% in the 4th quarter. Interchange Capital Partners LLC now owns 243 shares of the company’s stock valued at $490,000 after acquiring an additional 5 shares during the period. Finally, Laird Norton Wetherby Wealth Management LLC increased its stake in MercadoLibre by 2.0% in the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 259 shares of the company’s stock valued at $605,000 after buying an additional 5 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Price Performance

MELI opened at $1,546.81 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.16 and a debt-to-equity ratio of 0.63. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,645.22. The company has a 50 day moving average of $1,734.98 and a two-hundred day moving average of $1,945.43. The company has a market cap of $78.42 billion, a P/E ratio of 40.82, a P/E/G ratio of 0.95 and a beta of 1.41.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.75 by ($0.52). The business had revenue of $8.85 billion for the quarter, compared to analysts’ expectations of $8.29 billion. MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.MercadoLibre’s quarterly revenue was up 49.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $9.74 earnings per share. On average, analysts expect that MercadoLibre, Inc. will post 42.53 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MELI has been the topic of several recent analyst reports. Jefferies Financial Group upgraded MercadoLibre from a “hold” rating to a “buy” rating and dropped their target price for the stock from $2,800.00 to $2,600.00 in a research report on Tuesday, April 7th. Barclays lowered their price target on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a report on Monday. UBS Group dropped their target price on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a report on Wednesday. Cantor Fitzgerald lowered their target price on MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating on the stock in a report on Tuesday, April 21st. Finally, BTIG Research decreased their price target on shares of MercadoLibre from $2,400.00 to $2,150.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,255.33.

MercadoLibre Company Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.