Calamos Advisors LLC Lowers Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Calamos Advisors LLC cut its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 82.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,981 shares of the company’s stock after selling 27,526 shares during the quarter. Calamos Advisors LLC’s holdings in MercadoLibre were worth $9,399,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Turtle Creek Wealth Advisors LLC purchased a new stake in MercadoLibre during the fourth quarter worth $28,000. Archer Investment Corp purchased a new stake in MercadoLibre during the fourth quarter worth $31,000. Proffitt & Goodson Inc. purchased a new stake in MercadoLibre during the third quarter worth $32,000. Castleview Partners LLC lifted its holdings in MercadoLibre by 58.8% during the second quarter. Castleview Partners LLC now owns 27 shares of the company’s stock valued at $32,000 after purchasing an additional 10 shares in the last quarter. Finally, NBC Securities Inc. purchased a new position in MercadoLibre during the third quarter valued at $35,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on MELI. Citigroup decreased their price objective on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating on the stock in a report on Wednesday, March 27th. StockNews.com downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. Barclays decreased their price objective on shares of MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating on the stock in a report on Wednesday, April 3rd. UBS Group decreased their price objective on shares of MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Wedbush reiterated an “outperform” rating and issued a $2,000.00 target price on shares of MercadoLibre in a research report on Tuesday, March 5th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,813.85.

MercadoLibre Price Performance

MercadoLibre stock opened at $1,356.43 on Friday. MercadoLibre, Inc. has a 12-month low of $1,063.02 and a 12-month high of $1,825.00. The stock has a market cap of $68.77 billion, a P/E ratio of 69.42, a PEG ratio of 0.88 and a beta of 1.44. The company has a 50-day moving average price of $1,559.84 and a 200 day moving average price of $1,523.45. The company has a current ratio of 1.27, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, February 22nd. The company reported $3.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.66 by ($3.41). MercadoLibre had a return on equity of 39.07% and a net margin of 6.82%. The firm had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.14 billion. During the same quarter in the previous year, the business posted $3.25 earnings per share. MercadoLibre’s revenue for the quarter was up 42.0% on a year-over-year basis. Sell-side analysts anticipate that MercadoLibre, Inc. will post 35.77 earnings per share for the current 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.