MercadoLibre, Inc. $MELI Shares Sold by Balboa Wealth Partners

Balboa Wealth Partners lowered its position in MercadoLibre, Inc. (NASDAQ:MELI) by 10.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 417 shares of the company’s stock after selling 50 shares during the quarter. Balboa Wealth Partners’ holdings in MercadoLibre were worth $1,090,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in MELI. Invesco Ltd. raised its stake in MercadoLibre by 22.4% during the 1st quarter. Invesco Ltd. now owns 570,967 shares of the company’s stock valued at $1,113,881,000 after acquiring an additional 104,554 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of MercadoLibre by 21.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company’s stock valued at $1,073,823,000 after purchasing an additional 96,283 shares during the period. GQG Partners LLC raised its stake in shares of MercadoLibre by 23.5% during the first quarter. GQG Partners LLC now owns 461,875 shares of the company’s stock valued at $901,058,000 after purchasing an additional 87,912 shares in the last quarter. Nuveen LLC acquired a new stake in MercadoLibre in the first quarter worth about $143,367,000. Finally, Goldman Sachs Group Inc. lifted its holdings in MercadoLibre by 18.7% in the first quarter. Goldman Sachs Group Inc. now owns 450,444 shares of the company’s stock worth $878,757,000 after purchasing an additional 70,834 shares during the period. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Down 0.9%

MercadoLibre stock opened at $2,024.98 on Monday. The firm has a market cap of $102.67 billion, a price-to-earnings ratio of 50.01, a price-to-earnings-growth ratio of 1.37 and a beta of 1.46. MercadoLibre, Inc. has a 1 year low of $1,646.00 and a 1 year high of $2,645.22. The firm’s 50 day moving average price is $2,336.31 and its two-hundred day moving average price is $2,352.44. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Monday, August 4th. The company reported $10.31 earnings per share for the quarter, missing the consensus estimate of $12.01 by ($1.70). The company had revenue of $6.79 billion for 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 revenue was up 33.8% compared to the same quarter last year. During the same period in the prior year, the business earned $10.48 earnings per share. On average, research analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on MELI shares. Cantor Fitzgerald boosted their price target on shares of MercadoLibre from $2,700.00 to $2,900.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 24th. Wedbush set a $2,700.00 target price on MercadoLibre and gave the stock an “outperform” rating in a report on Tuesday, August 5th. Raymond James Financial restated a “strong-buy” rating and issued a $2,750.00 target price on shares of MercadoLibre in a research report on Tuesday, August 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of MercadoLibre in a research report on Wednesday, October 8th. Finally, Benchmark reissued a “buy” rating and issued a $2,875.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus price target of $2,810.88.

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.