MercadoLibre, Inc. $MELI Shares Sold by INCA Investments LLC

INCA Investments LLC lowered its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 33.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,949 shares of the company’s stock after selling 4,941 shares during the period. MercadoLibre accounts for 10.1% of INCA Investments LLC’s investment portfolio, making the stock its 5th largest holding. INCA Investments LLC’s holdings in MercadoLibre were worth $26,003,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Optimize Financial Inc raised its stake in shares of MercadoLibre by 1.7% during 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. Beacon Capital Management LLC raised its stake in shares of MercadoLibre by 8.3% during the first quarter. Beacon Capital Management LLC now owns 65 shares of the company’s stock valued at $127,000 after purchasing an additional 5 shares during the period. Range Financial Group LLC raised its stake in shares of 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 purchasing an additional 5 shares during the period. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of MercadoLibre by 26.3% in the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 24 shares of the company’s stock worth $63,000 after buying an additional 5 shares during the last quarter. Finally, Forum Financial Management LP increased its stake in shares of MercadoLibre by 3.1% in the first quarter. Forum Financial Management LP now owns 199 shares of the company’s stock worth $388,000 after buying an additional 6 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Weiss Ratings restated a “buy (b)” rating on shares of MercadoLibre in a research note on Wednesday, October 8th. Scotiabank assumed coverage on shares of MercadoLibre in a research note on Monday, July 28th. They issued a “sector outperform” rating and a $3,500.00 price target for the company. Citigroup dropped their price target on shares of MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating for the company in a research note on Thursday, October 9th. Benchmark restated a “buy” rating and issued a $2,875.00 price target on shares of MercadoLibre in a research note on Tuesday, August 5th. Finally, Daiwa Capital Markets started coverage on shares of MercadoLibre in a research note on Friday, August 1st. They issued a “buy” rating and a $3,000.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average price target of $2,810.88.

MercadoLibre Stock Performance

MercadoLibre stock opened at $2,048.35 on Thursday. The company has a market cap of $103.85 billion, a PE ratio of 50.59, a P/E/G ratio of 1.46 and a beta of 1.46. The company has a fifty day moving average price of $2,348.72 and a two-hundred day moving average price of $2,345.35. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last released 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 analyst estimates of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The business’s revenue for the quarter was up 33.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $10.48 EPS. Research analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

MercadoLibre 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.