MercadoLibre, Inc. $MELI Shares Sold by Connective Capital Management LLC

Connective Capital Management LLC lowered its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 33.5% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 830 shares of the company’s stock after selling 419 shares during the quarter. MercadoLibre comprises about 1.0% of Connective Capital Management LLC’s portfolio, making the stock its 18th largest position. Connective Capital Management LLC’s holdings in MercadoLibre were worth $1,409,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Transamerica Financial Advisors LLC purchased a new position in shares of MercadoLibre in the fourth quarter worth about $26,000. Purpose Unlimited Inc. acquired a new position in MercadoLibre in the 4th quarter worth approximately $28,000. Wedbush Fund Advisers LLC acquired a new position in MercadoLibre in the 2nd quarter worth approximately $29,000. Darwin Wealth Management LLC purchased a new position in MercadoLibre during the 2nd quarter worth approximately $29,000. Finally, Curio Wealth LLC purchased a new position in MercadoLibre during the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Barclays dropped their price objective on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. UBS Group cut their price target on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. The Goldman Sachs Group set a $2,100.00 price objective on MercadoLibre in a research note on Wednesday, May 13th. Citigroup boosted their price objective on MercadoLibre from $1,950.00 to $2,000.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of MercadoLibre in a research note on Thursday, July 2nd. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $2,272.00.

MercadoLibre Stock Performance

MELI stock traded down $52.11 during midday trading on Tuesday, hitting $1,926.25. 351,259 shares of the stock traded hands, compared to its average volume of 524,563. The firm has a market cap of $97.66 billion, a P/E ratio of 52.39, a PEG ratio of 1.36 and a beta of 1.31. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10. The stock’s fifty day simple moving average is $1,865.34 and its 200-day simple moving average is $1,769.47. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,548.50.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $9.19 earnings per share for the quarter, topping analysts’ consensus estimates of $8.65 by $0.54. The business had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The company’s revenue was up 49.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $10.31 earnings per share. On average, analysts expect that MercadoLibre, Inc. will post 39.11 earnings per share for the current year.

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.