Roberts Glore & Co. Inc. IL Decreases Stake in MercadoLibre, Inc. $MELI

Roberts Glore & Co. Inc. IL reduced its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 3.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 830 shares of the company’s stock after selling 33 shares during the period. Roberts Glore & Co. Inc. IL’s holdings in MercadoLibre were worth $2,170,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Jennison Associates LLC lifted its position in MercadoLibre by 7.0% during the 2nd quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock worth $3,228,460,000 after acquiring an additional 81,124 shares during the period. Invesco Ltd. raised its stake in shares of MercadoLibre by 22.4% in the first quarter. Invesco Ltd. now owns 570,967 shares of the company’s stock worth $1,113,881,000 after purchasing an additional 104,554 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted 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 worth $1,073,823,000 after purchasing an additional 96,283 shares during the period. Generation Investment Management LLP boosted its position in MercadoLibre by 3.3% in the first quarter. Generation Investment Management LLP now owns 530,564 shares of the company’s stock valued at $1,035,061,000 after buying an additional 16,878 shares during the last quarter. Finally, GQG Partners LLC increased its holdings in MercadoLibre by 23.5% in the 1st quarter. GQG Partners LLC now owns 461,875 shares of the company’s stock worth $901,058,000 after buying an additional 87,912 shares during the period. 87.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MELI. Jefferies Financial Group reissued a “hold” rating and set a $2,800.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. Daiwa Capital Markets began coverage on shares of MercadoLibre in a report on Friday, August 1st. They set a “buy” rating and a $3,000.00 target price for the company. Weiss Ratings restated a “buy (b-)” rating on shares of MercadoLibre in a research report on Friday, October 31st. Cantor Fitzgerald lowered their price target on shares of MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. Finally, JPMorgan Chase & Co. lifted their price objective on MercadoLibre from $2,600.00 to $2,650.00 and gave the company a “neutral” rating in a research note on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $2,861.25.

MercadoLibre Stock Down 0.9%

MELI stock opened at $2,108.60 on Friday. 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 quick ratio of 1.18 and a current ratio of 1.20. The firm’s fifty day moving average is $2,290.36 and its 200 day moving average is $2,377.50. The firm has a market cap of $106.90 billion, a PE ratio of 51.45, a P/E/G ratio of 1.56 and a beta of 1.51.

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 analysts’ consensus estimates of $9.88 by ($1.56). MercadoLibre had a return on equity of 41.35% and a net margin of 7.93%.The firm had revenue of $7.41 billion during the quarter, compared to analyst estimates of $7.19 billion. During the same quarter last year, the company posted $7.83 EPS. The company’s revenue was up 39.5% on a year-over-year basis. On average, research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current 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.