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

WBI Investments LLC reduced its position in MercadoLibre, Inc. (NASDAQ:MELI) by 34.9% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 438 shares of the company’s stock after selling 235 shares during the period. WBI Investments LLC’s holdings in MercadoLibre were worth $1,145,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. GW&K Investment Management LLC acquired a new stake in MercadoLibre during the 1st quarter valued at approximately $25,000. Close Asset Management Ltd raised its holdings in MercadoLibre by 366.7% in the first quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock valued at $27,000 after acquiring an additional 11 shares in the last quarter. Brooklyn Investment Group boosted its stake in MercadoLibre by 650.0% during the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock valued at $29,000 after acquiring an additional 13 shares during the last quarter. Twin Tree Management LP acquired a new position in MercadoLibre during the 1st quarter worth $29,000. Finally, Saudi Central Bank bought a new stake in shares of MercadoLibre in the 1st quarter worth about $35,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Trading Up 0.4%

NASDAQ:MELI opened at $2,057.72 on Tuesday. MercadoLibre, Inc. has a 12-month low of $1,646.00 and a 12-month 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 business has a 50 day simple moving average of $2,250.86 and a 200 day simple moving average of $2,371.34. The firm has a market capitalization of $104.32 billion, a P/E ratio of 50.21, a P/E/G ratio of 1.56 and a beta of 1.51.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.88 by ($1.56). MercadoLibre had a net margin of 7.93% and a return on equity of 41.35%. The firm had revenue of $7.41 billion for the quarter, compared to analyst estimates of $7.19 billion. During the same period last year, the firm posted $7.83 EPS. The business’s revenue was up 39.5% compared to the same quarter last year. Equities research analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on MELI shares. Wedbush increased 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. Barclays lifted their target price on MercadoLibre from $2,800.00 to $2,900.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Benchmark dropped their price target on MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. BTIG Research restated a “buy” rating and set a $2,750.00 price objective on shares of MercadoLibre in a research note on Friday. Finally, JPMorgan Chase & Co. boosted their target price on shares of 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 investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $2,854.71.

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.