Acorn Financial Advisory Services Inc. ADV Sells 11 Shares of MercadoLibre, Inc. $MELI

Acorn Financial Advisory Services Inc. ADV decreased its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 6.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 168 shares of the company’s stock after selling 11 shares during the quarter. Acorn Financial Advisory Services Inc. ADV’s holdings in MercadoLibre were worth $440,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ninety One North America Inc. lifted its holdings in MercadoLibre by 21.5% during the 2nd quarter. Ninety One North America Inc. now owns 6,094 shares of the company’s stock valued at $15,927,000 after buying an additional 1,080 shares in the last quarter. Banco Santander S.A. increased its position in MercadoLibre by 221.9% during the 1st quarter. Banco Santander S.A. now owns 2,746 shares of the company’s stock valued at $5,357,000 after purchasing an additional 1,893 shares during the period. Stratos Investment Management LLC purchased a new position in MercadoLibre during the 1st quarter valued at about $203,000. Costello Asset Management INC increased its position in MercadoLibre by 434.3% during the 2nd quarter. Costello Asset Management INC now owns 577 shares of the company’s stock valued at $1,509,000 after purchasing an additional 469 shares during the period. Finally, Vaughan Nelson Investment Management L.P. increased its position in MercadoLibre by 8.5% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,257 shares of the company’s stock valued at $5,899,000 after purchasing an additional 177 shares during the period. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Up 2.0%

MELI stock opened at $2,175.91 on Tuesday. 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. The firm has a 50 day moving average of $2,359.10 and a 200 day moving average of $2,348.74. The stock has a market capitalization of $110.32 billion, a PE ratio of 53.74, a price-to-earnings-growth ratio of 1.43 and a beta of 1.46.

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). MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The business had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.57 billion. During the same quarter in the previous year, the firm posted $10.48 earnings per share. The business’s revenue was up 33.8% on a year-over-year basis. Sell-side analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MELI. Wall Street Zen downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Sunday, June 22nd. Benchmark reissued a “buy” rating and set a $2,875.00 target price on shares of MercadoLibre in a research report on Tuesday, August 5th. Raymond James Financial reissued a “strong-buy” rating and set a $2,750.00 target price on shares of MercadoLibre in a research report on Tuesday, August 5th. Susquehanna cut their target price on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a research report on Monday. Finally, Cantor Fitzgerald raised their target price on shares of MercadoLibre from $2,700.00 to $2,900.00 and gave the company an “overweight” rating in a research report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,810.88.

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.