MercadoLibre, Inc. $MELI Stake Decreased by WNY Asset Management LLC

WNY Asset Management LLC lessened its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 866 shares of the company’s stock after selling 12 shares during the period. WNY Asset Management LLC’s holdings in MercadoLibre were worth $2,263,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Key Financial Inc bought a new stake in shares of MercadoLibre during the first quarter valued at approximately $25,000. GW&K Investment Management LLC bought a new stake in shares of MercadoLibre during the first quarter valued at approximately $25,000. Close Asset Management Ltd raised its holdings in shares of MercadoLibre by 366.7% during the first quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock valued at $27,000 after buying an additional 11 shares during the last quarter. Highline Wealth Partners LLC raised its holdings in MercadoLibre by 366.7% during the second quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock worth $37,000 after purchasing an additional 11 shares in the last quarter. Finally, Brooklyn Investment Group raised its holdings in MercadoLibre by 650.0% during the first quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock worth $29,000 after purchasing an additional 13 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Wedbush set a $2,700.00 price target on shares of MercadoLibre and gave the stock an “outperform” rating in a research report on Tuesday, August 5th. Citigroup decreased their target price 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 reissued a “buy” rating and set a $2,875.00 target price on shares of MercadoLibre in a research note on Tuesday, October 21st. Daiwa Capital Markets assumed coverage on shares of MercadoLibre in a report on Friday, August 1st. They issued a “buy” rating and a $3,000.00 price objective for the company. Finally, Cantor Fitzgerald upped their price objective on shares of MercadoLibre from $2,700.00 to $2,900.00 and gave the stock an “overweight” rating in a report on Wednesday, September 24th. One 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $2,799.12.

MercadoLibre Price Performance

MELI opened at $2,290.14 on Wednesday. MercadoLibre, Inc. has a one year low of $1,646.00 and a one year high of $2,645.22. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. The company’s 50 day simple moving average is $2,312.95 and its 200-day simple moving average is $2,366.69. The stock has a market capitalization of $116.11 billion, a P/E ratio of 56.56, a price-to-earnings-growth ratio of 1.55 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results 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 company had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.57 billion. During the same period last year, the company earned $10.48 earnings per share. MercadoLibre’s revenue for the quarter was up 33.8% compared to the same quarter last year. Sell-side analysts anticipate 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.