MercadoLibre, Inc. $MELI Position Reduced by C WorldWide Group Holding A S

C WorldWide Group Holding A S trimmed its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 0.8% during the second quarter, HoldingsChannel reports. The fund owned 8,769 shares of the company’s stock after selling 74 shares during the quarter. C WorldWide Group Holding A S’s holdings in MercadoLibre were worth $22,919,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Optimize Financial Inc boosted its stake in MercadoLibre by 1.7% during the 1st quarter. Optimize Financial Inc now owns 238 shares of the company’s stock valued at $464,000 after acquiring an additional 4 shares during the last quarter. Range Financial Group LLC boosted its stake in MercadoLibre by 2.7% during the 2nd quarter. Range Financial Group LLC now owns 188 shares of the company’s stock valued at $491,000 after acquiring an additional 5 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. boosted its stake in MercadoLibre by 26.3% during the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 24 shares of the company’s stock valued at $63,000 after acquiring an additional 5 shares during the last quarter. Forum Financial Management LP boosted its stake in MercadoLibre by 3.1% during the 1st quarter. Forum Financial Management LP now owns 199 shares of the company’s stock valued at $388,000 after acquiring an additional 6 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC lifted its position in shares of MercadoLibre by 37.5% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 22 shares of the company’s stock worth $43,000 after buying an additional 6 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on MELI. Wedbush raised their price target on shares of MercadoLibre from $2,700.00 to $2,800.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Jefferies Financial Group restated a “hold” rating and issued a $2,800.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. Citigroup reduced their price target on shares of MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating on the stock in a research report on Thursday, October 9th. Morgan Stanley upped their price objective on MercadoLibre from $2,850.00 to $2,950.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, JPMorgan Chase & Co. upped their price objective on MercadoLibre from $2,600.00 to $2,650.00 and gave the stock a “neutral” rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, MercadoLibre currently has an average rating of “Moderate Buy” and an average target price of $2,822.35.

MercadoLibre Trading Down 0.2%

Shares of NASDAQ:MELI opened at $2,301.88 on Thursday. The company has a market cap of $116.70 billion, a PE ratio of 56.17, a P/E/G ratio of 1.56 and a beta of 1.51. The company’s 50-day moving average price is $2,304.52 and its 200 day moving average price is $2,377.13. MercadoLibre, Inc. has a fifty-two week low of $1,646.00 and a fifty-two 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.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $8.32 earnings per share for the quarter, missing the consensus estimate of $9.88 by ($1.56). The firm had revenue of $7.41 billion during the quarter, compared to the consensus estimate of $7.19 billion. MercadoLibre had a net margin of 7.93% and a return on equity of 41.35%. The company’s revenue for the quarter was up 39.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $7.83 earnings per share. Sell-side analysts anticipate 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.