Stratos Wealth Partners LTD. Lowers Holdings in MercadoLibre, Inc. $MELI

Stratos Wealth Partners LTD. cut its position in MercadoLibre, Inc. (NASDAQ:MELI) by 4.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 358 shares of the company’s stock after selling 16 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in MercadoLibre were worth $936,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Key Financial Inc purchased a new stake in shares of MercadoLibre during the 1st quarter valued at $25,000. GW&K Investment Management LLC bought a new stake in MercadoLibre in the 1st quarter worth $25,000. Close Asset Management Ltd grew its holdings in MercadoLibre by 366.7% in the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock worth $27,000 after acquiring an additional 11 shares during the last quarter. Brooklyn Investment Group grew its holdings in MercadoLibre by 650.0% in the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock worth $29,000 after acquiring an additional 13 shares during the last quarter. Finally, Twin Tree Management LP bought a new stake in shares of MercadoLibre during the 1st quarter valued at about $29,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MELI has been the subject of a number of recent research reports. Wedbush set a $2,700.00 price target on shares of MercadoLibre and gave the company an “outperform” rating in a research report on Tuesday, August 5th. Daiwa Capital Markets initiated coverage on shares of MercadoLibre in a research report on Friday, August 1st. They set a “buy” rating and a $3,000.00 price target for the company. 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. Benchmark reissued a “buy” rating and set a $2,875.00 price target on shares of MercadoLibre in a research report on Tuesday. Finally, JPMorgan Chase & Co. lowered their price target on shares of MercadoLibre from $2,700.00 to $2,600.00 and set a “neutral” rating for the company in a research report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $2,799.12.

MercadoLibre Stock Up 1.9%

Shares of MercadoLibre stock opened at $2,142.05 on Wednesday. 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 $108.60 billion, a PE ratio of 52.90, a price-to-earnings-growth ratio of 1.42 and a beta of 1.46. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week high of $2,645.22. The company has a 50-day simple moving average of $2,328.33 and a two-hundred day simple moving average of $2,352.79.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $12.01 by ($1.70). The firm had revenue of $6.79 billion during the quarter, compared to analysts’ expectations of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The firm’s quarterly revenue was up 33.8% on a year-over-year basis. During the same period last year, the firm posted $10.48 earnings per share. On average, analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal 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.