MercadoLibre, Inc. $MELI Shares Sold by EFG International AG

EFG International AG reduced its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 5.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,847 shares of the company’s stock after selling 947 shares during the quarter. EFG International AG’s holdings in MercadoLibre were worth $26,918,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

MELI has been the subject of a number of research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of MercadoLibre in a report on Thursday, July 2nd. UBS Group lowered their price objective on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. JPMorgan Chase & Co. boosted their target price on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Raymond James Financial set a $2,000.00 target price on shares of MercadoLibre in a research note on Friday, May 8th. Finally, Cantor Fitzgerald raised their target price on shares of MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $2,272.00.

MercadoLibre Stock Up 2.5%

Shares of MercadoLibre stock opened at $1,997.00 on Wednesday. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,548.50. The firm has a market capitalization of $101.25 billion, a PE ratio of 54.31, a price-to-earnings-growth ratio of 1.33 and a beta of 1.34. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.53. The stock’s fifty day moving average is $1,805.54 and its 200-day moving average is $1,771.87.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share for the quarter, beating analysts’ consensus estimates of $8.65 by $0.54. The business had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.79 billion. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.MercadoLibre’s revenue for the quarter was up 49.8% on a year-over-year basis. During the same quarter last year, the company posted $10.31 EPS. Equities analysts anticipate that MercadoLibre, Inc. will post 39.11 earnings per share for the current 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.