Clough Capital Partners L P Sells 1,195 Shares of MercadoLibre, Inc. $MELI

Clough Capital Partners L P reduced its position in MercadoLibre, Inc. (NASDAQ:MELI) by 24.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,644 shares of the company’s stock after selling 1,195 shares during the quarter. Clough Capital Partners L P’s holdings in MercadoLibre were worth $6,301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Laurel Wealth Advisors LLC bought a new stake in MercadoLibre during the fourth quarter worth approximately $26,000. Transamerica Financial Advisors LLC bought a new position in MercadoLibre in the 4th quarter valued at $26,000. Purpose Unlimited Inc. purchased a new stake in MercadoLibre in the fourth quarter worth $28,000. Darwin Wealth Management LLC purchased a new stake in shares of MercadoLibre during the second quarter valued at $29,000. Finally, Curio Wealth LLC purchased a new stake in shares of MercadoLibre during the fourth quarter valued at $30,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Alejandro Nicolas Aguzin acquired 600 shares of the stock in a transaction dated Friday, May 22nd. The stock was acquired at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the purchase, the director owned 5,355 shares of the company’s stock, valued at approximately $8,867,505.15. This represents a 12.62% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MELI. Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and lowered their price objective for the company from $2,800.00 to $2,600.00 in a research report on Tuesday, April 7th. Morgan Stanley dropped their target price on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. BTIG Research reaffirmed a “buy” rating and issued a $2,150.00 price target on shares of MercadoLibre in a research report on Tuesday, June 2nd. Scotiabank dropped their target price on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a research report on Thursday, May 7th. Finally, Raymond James Financial set a $2,000.00 price target on MercadoLibre in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,258.67.

MercadoLibre Price Performance

Shares of MELI stock opened at $1,801.44 on Monday. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,548.50. The stock’s fifty day moving average price is $1,705.94 and its 200 day moving average price is $1,813.47. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14. The company has a market cap of $91.33 billion, a price-to-earnings ratio of 47.54, a price-to-earnings-growth ratio of 1.11 and a beta of 1.35.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.75 by ($0.52). The business had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.29 billion. MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The company’s quarterly revenue was up 49.0% on a year-over-year basis. During the same period in the prior year, the company earned $9.74 earnings per share. On average, research analysts expect that MercadoLibre, Inc. will post 41 earnings per share for the current fiscal year.

MercadoLibre Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.