Fifth Third Bancorp Reduces Position in MercadoLibre, Inc. $MELI

Fifth Third Bancorp lessened its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 0.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,021 shares of the company’s stock after selling 17 shares during the period. Fifth Third Bancorp’s holdings in MercadoLibre were worth $5,282,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Sheets Smith Wealth Management boosted its position in shares of MercadoLibre by 29.2% during the second quarter. Sheets Smith Wealth Management now owns 398 shares of the company’s stock valued at $1,040,000 after buying an additional 90 shares during the period. Compagnie Lombard Odier SCmA boosted its holdings in shares of MercadoLibre by 7.0% in the second quarter. Compagnie Lombard Odier SCmA now owns 2,298 shares of the company’s stock valued at $6,006,000 after purchasing an additional 150 shares during the period. Pictet North America Advisors SA purchased a new stake in shares of MercadoLibre in the second quarter valued at approximately $16,570,000. Bfsg LLC purchased a new stake in shares of MercadoLibre in the second quarter valued at approximately $1,040,000. Finally, Masso Torrence Wealth Management Inc. boosted its holdings in shares of MercadoLibre by 23.4% in the second quarter. Masso Torrence Wealth Management Inc. now owns 216 shares of the company’s stock valued at $565,000 after purchasing an additional 41 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on MELI shares. Wedbush set a $2,700.00 price target on MercadoLibre and gave the company an “outperform” rating in a report on Tuesday, August 5th. Jefferies Financial Group reiterated a “hold” rating and issued a $2,800.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Benchmark reiterated a “buy” rating and issued a $2,875.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Daiwa Capital Markets started coverage on MercadoLibre in a report on Friday, August 1st. They issued a “buy” rating and a $3,000.00 price target for the company. Finally, Scotiabank started coverage on MercadoLibre in a report on Monday, July 28th. They issued a “sector outperform” rating and a $3,500.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $2,828.33.

MercadoLibre Stock Performance

Shares of NASDAQ:MELI opened at $2,492.25 on Friday. The company has a market capitalization of $126.36 billion, a price-to-earnings ratio of 61.55, a price-to-earnings-growth ratio of 1.63 and a beta of 1.49. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22. 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 firm has a 50 day moving average of $2,390.74 and a 200 day moving average of $2,329.30.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing analysts’ consensus estimates 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 return on equity of 43.06% and a net margin of 8.52%.The business’s quarterly revenue was up 33.8% on a year-over-year basis. During the same period last year, the firm earned $10.48 EPS. On average, sell-side analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

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.