Columbus Circle Investors Trims Stock Position in Mercadolibre Inc (NASDAQ:MELI)

Columbus Circle Investors lowered its position in shares of Mercadolibre Inc (NASDAQ:MELI) by 8.9% in the 2nd quarter, Holdings Channel.com reports. The fund owned 24,199 shares of the company’s stock after selling 2,360 shares during the period. Columbus Circle Investors’ holdings in Mercadolibre were worth $14,804,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the stock. B & T Capital Management DBA Alpha Capital Management lifted its holdings in shares of Mercadolibre by 22.2% in the 2nd quarter. B & T Capital Management DBA Alpha Capital Management now owns 4,410 shares of the company’s stock worth $2,698,000 after acquiring an additional 801 shares during the last quarter. AMS Capital Ltda bought a new stake in shares of Mercadolibre in the 2nd quarter worth approximately $12,235,000. DekaBank Deutsche Girozentrale lifted its holdings in shares of Mercadolibre by 69.4% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 6,873 shares of the company’s stock worth $4,284,000 after acquiring an additional 2,816 shares during the last quarter. TD Asset Management Inc. lifted its holdings in shares of Mercadolibre by 0.4% in the 2nd quarter. TD Asset Management Inc. now owns 17,980 shares of the company’s stock worth $11,000,000 after acquiring an additional 67 shares during the last quarter. Finally, Pendal Group Ltd lifted its holdings in shares of Mercadolibre by 26.5% in the 2nd quarter. Pendal Group Ltd now owns 6,709 shares of the company’s stock worth $3,896,000 after acquiring an additional 1,406 shares during the last quarter. 84.06% of the stock is owned by institutional investors.

NASDAQ:MELI opened at $613.25 on Friday. The company has a fifty day moving average of $634.00 and a 200 day moving average of $536.33. Mercadolibre Inc has a 52 week low of $257.52 and a 52 week high of $698.98. The company has a quick ratio of 2.82, a current ratio of 2.54 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $31.69 billion, a P/E ratio of -747.87 and a beta of 1.76.

Mercadolibre (NASDAQ:MELI) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.31 EPS for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.03. Mercadolibre had a net margin of 0.87% and a return on equity of 1.24%. The company had revenue of $545.24 million during the quarter, compared to analyst estimates of $507.68 million. During the same period in the prior year, the business posted ($0.25) EPS. The firm’s revenue was up 62.6% compared to the same quarter last year. As a group, analysts anticipate that Mercadolibre Inc will post 0.78 EPS for the current year.

A number of brokerages have recently weighed in on MELI. Zacks Investment Research upgraded shares of Mercadolibre from a “hold” rating to a “buy” rating and set a $608.00 price objective for the company in a report on Friday, May 10th. UBS Group set a $730.00 price objective on shares of Mercadolibre and gave the stock a “buy” rating in a report on Wednesday, June 26th. JPMorgan Chase & Co. upgraded shares of Mercadolibre from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $563.00 to $750.00 in a report on Tuesday. Credit Suisse Group boosted their price objective on shares of Mercadolibre from $640.00 to $710.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. They noted that the move was a valuation call. Finally, BTIG Research lowered shares of Mercadolibre from a “buy” rating to a “neutral” rating and set a $561.01 price objective for the company. in a report on Tuesday, June 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $620.63.

Mercadolibre Profile

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, 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, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.

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Institutional Ownership by Quarter for Mercadolibre (NASDAQ:MELI)

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