Engineers Gate Manager LP Reduces Stock Holdings in MercadoLibre, Inc. $MELI

Engineers Gate Manager LP cut its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 15.3% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 2,217 shares of the company’s stock after selling 399 shares during the period. Engineers Gate Manager LP’s holdings in MercadoLibre were worth $3,763,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Transamerica Financial Advisors LLC purchased a new stake in shares of MercadoLibre during the fourth quarter valued at approximately $26,000. Purpose Unlimited Inc. purchased a new position in shares of MercadoLibre in the fourth quarter valued at $28,000. Wedbush Fund Advisers LLC acquired a new stake in MercadoLibre during the 2nd quarter valued at $29,000. Darwin Wealth Management LLC acquired a new stake in MercadoLibre during the 2nd quarter valued at $29,000. Finally, Curio Wealth LLC purchased a new stake in MercadoLibre during the 4th quarter worth $30,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $1,897.37 on Friday. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,548.50. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $96.20 billion, a price-to-earnings ratio of 51.60, a price-to-earnings-growth ratio of 1.30 and a beta of 1.31. The business has a 50 day simple moving average of $1,878.13 and a 200-day simple moving average of $1,768.31.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, August 6th. The company reported $9.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.65 by $0.54. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The firm had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.79 billion. During the same period last year, the business posted $10.31 earnings per share. The firm’s revenue for the quarter was up 49.8% on a year-over-year basis. As a group, equities research analysts expect that MercadoLibre, Inc. will post 39.11 earnings per share for the current year.

Wall Street Analyst Weigh In

MELI has been the subject of a number of analyst reports. Citigroup upped their price objective on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MercadoLibre in a research report on Thursday, July 2nd. Cantor Fitzgerald boosted their price target on MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Zacks Research raised MercadoLibre from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Finally, JPMorgan Chase & Co. raised their price objective on MercadoLibre from $1,900.00 to $2,150.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $2,272.00.

About MercadoLibre

MercadoLibre, Inc is a technology company that operates an online commerce and financial services ecosystem across Latin America. Founded in 1999 by Marcos Galperin, the company began as an online marketplace and has expanded into a broad platform serving consumers, merchants and businesses.

Its marketplace enables users to buy and sell products across categories, while Mercado Pago provides digital payments, online checkout, money transfers and other financial services. The company also offers Mercado Envíos logistics and fulfillment services, Mercado Ads advertising solutions, and credit products through Mercado Crédito.