Dorsey Wright & Associates Has $2.04 Million Holdings in MercadoLibre, Inc. $MELI

Dorsey Wright & Associates cut its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 39.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 779 shares of the company’s stock after selling 499 shares during the period. Dorsey Wright & Associates’ holdings in MercadoLibre were worth $2,036,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Optimize Financial Inc boosted its stake in MercadoLibre by 1.7% in the first quarter. Optimize Financial Inc now owns 238 shares of the company’s stock worth $464,000 after purchasing an additional 4 shares in the last quarter. Range Financial Group LLC raised its holdings in shares of MercadoLibre by 2.7% in the second quarter. Range Financial Group LLC now owns 188 shares of the company’s stock valued at $491,000 after buying an additional 5 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. lifted its position 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 worth $63,000 after buying an additional 5 shares in the last quarter. Cary Street Partners Investment Advisory LLC grew its holdings in MercadoLibre by 37.5% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 22 shares of the company’s stock worth $43,000 after acquiring an additional 6 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in MercadoLibre by 14.6% in the 1st quarter. Smartleaf Asset Management LLC now owns 47 shares of the company’s stock valued at $96,000 after acquiring an additional 6 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $2,058.81 on Wednesday. The firm has a fifty day moving average of $2,244.58 and a two-hundred day moving average of $2,369.78. 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 stock has a market capitalization of $104.38 billion, a price-to-earnings ratio of 50.24, a PEG ratio of 1.56 and a beta of 1.51. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last posted 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). The company had revenue of $7.41 billion during the quarter, compared to the consensus estimate of $7.19 billion. MercadoLibre had a return on equity of 41.35% and a net margin of 7.93%.The firm’s revenue for the quarter was up 39.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $7.83 earnings per share. As a group, equities research analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on MELI shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of MercadoLibre in a research report on Friday, October 31st. BTIG Research reaffirmed a “buy” rating and set a $2,750.00 price objective on shares of MercadoLibre in a report on Friday, November 14th. Daiwa Capital Markets initiated coverage on MercadoLibre in a research note on Friday, August 1st. They issued a “buy” rating and a $3,000.00 target price for the company. Cantor Fitzgerald cut their price target on MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. Finally, JPMorgan Chase & Co. raised their price target on MercadoLibre from $2,600.00 to $2,650.00 and gave the company a “neutral” rating in a report on Monday, November 3rd. One research 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $2,854.71.

MercadoLibre Company 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.