MercadoLibre, Inc. (NASDAQ:MELI) Position Cut by AdvisorShares Investments LLC

AdvisorShares Investments LLC reduced its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 2.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 401 shares of the company’s stock after selling 8 shares during the quarter. AdvisorShares Investments LLC’s holdings in MercadoLibre were worth $641,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Raymond James & Associates increased its holdings in shares of MercadoLibre by 4.8% during the second quarter. Raymond James & Associates now owns 34,840 shares of the company’s stock valued at $57,256,000 after purchasing an additional 1,604 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in MercadoLibre by 20.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,642 shares of the company’s stock valued at $41,794,000 after buying an additional 4,658 shares during the period. Gulf International Bank UK Ltd raised its position in shares of MercadoLibre by 33.4% during the 1st quarter. Gulf International Bank UK Ltd now owns 4,960 shares of the company’s stock worth $7,499,000 after buying an additional 1,241 shares in the last quarter. Sarasin & Partners LLP raised its position in shares of MercadoLibre by 168.5% during the 2nd quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock worth $74,622,000 after buying an additional 28,494 shares in the last quarter. Finally, M&G Investment Management Ltd. acquired a new stake in shares of MercadoLibre in the 4th quarter worth approximately $7,882,000. Institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. Jefferies Financial Group upgraded MercadoLibre from a “hold” rating to a “buy” rating and lifted their price target for the company from $1,400.00 to $2,100.00 in a research report on Monday, May 20th. JPMorgan Chase & Co. upped their price objective on MercadoLibre from $2,150.00 to $2,400.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. StockNews.com lowered MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Finally, Cantor Fitzgerald began coverage on shares of MercadoLibre in a research report on Thursday, September 5th. They issued an “overweight” rating and a $2,530.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $2,141.25.

MercadoLibre Price Performance

MELI stock opened at $2,017.58 on Wednesday. MercadoLibre, Inc. has a one year low of $1,141.04 and a one year high of $2,064.76. The firm has a 50-day moving average of $1,831.51 and a two-hundred day moving average of $1,663.23. The firm has a market capitalization of $102.29 billion, a PE ratio of 90.27, a P/E/G ratio of 1.29 and a beta of 1.60. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The business had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same quarter in the previous year, the business earned $5.16 earnings per share. The firm’s revenue was up 41.5% compared to the same quarter last year. On average, analysts forecast that MercadoLibre, Inc. will post 35.22 earnings per share for the current year.

MercadoLibre Profile

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.