MercadoLibre, Inc. (NASDAQ:MELI) Holdings Decreased by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd reduced its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 6.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,192 shares of the company’s stock after selling 570 shares during the quarter. Mediolanum International Funds Ltd’s holdings in MercadoLibre were worth $16,886,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. O Dell Group LLC grew its holdings in MercadoLibre by 2.1% during the first quarter. O Dell Group LLC now owns 294 shares of the company’s stock worth $445,000 after acquiring an additional 6 shares during the period. Belpointe Asset Management LLC grew its holdings in MercadoLibre by 1.0% during the second quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock worth $1,016,000 after acquiring an additional 6 shares during the period. Ameritas Investment Partners Inc. grew its holdings in MercadoLibre by 0.4% during the second quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company’s stock worth $2,419,000 after acquiring an additional 6 shares during the period. Evolutionary Tree Capital Management LLC grew its holdings in MercadoLibre by 0.3% during the second quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company’s stock worth $3,403,000 after acquiring an additional 6 shares during the period. Finally, Hilltop National Bank grew its holdings in MercadoLibre by 14.3% during the second quarter. Hilltop National Bank now owns 56 shares of the company’s stock worth $92,000 after acquiring an additional 7 shares during the period. 87.62% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on MELI shares. Bank of America lifted their target price on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. JPMorgan Chase & Co. downgraded MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 price objective on the stock. in a report on Wednesday, October 2nd. Raymond James started coverage on MercadoLibre in a report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 price objective on the stock. Morgan Stanley boosted their price objective on MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Finally, StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $2,301.67.

MercadoLibre Stock Up 1.6 %

Shares of NASDAQ MELI traded up $33.72 during mid-day trading on Friday, reaching $2,089.65. 49,515 shares of the company’s stock were exchanged, compared to its average volume of 345,155. The business has a fifty day simple moving average of $2,044.50 and a 200 day simple moving average of $1,775.88. MercadoLibre, Inc. has a twelve month low of $1,162.73 and a twelve month high of $2,161.73. The firm has a market capitalization of $105.95 billion, a price-to-earnings ratio of 75.41, a PEG ratio of 1.26 and a beta of 1.61. 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 issued its earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, topping the consensus estimate of $8.53 by $1.95. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The company had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same period in the previous year, the company posted $5.16 EPS. The firm’s revenue for the quarter was up 41.5% compared to the same quarter last year. As a group, equities analysts expect that MercadoLibre, Inc. will post 37.55 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.