MercadoLibre, Inc. (NASDAQ:MELI) Stake Decreased by Legacy Advisors LLC

Legacy Advisors LLC trimmed its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 7.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,846 shares of the company’s stock after selling 154 shares during the quarter. Legacy Advisors LLC’s holdings in MercadoLibre were worth $3,034,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in MELI. O Dell Group LLC grew its stake in shares of MercadoLibre by 2.1% in the first quarter. O Dell Group LLC now owns 294 shares of the company’s stock worth $445,000 after purchasing an additional 6 shares in the last quarter. Wealthspire Advisors LLC increased its stake in MercadoLibre by 1.8% during the 4th quarter. Wealthspire Advisors LLC now owns 391 shares of the company’s stock valued at $614,000 after buying an additional 7 shares during the period. Independent Advisor Alliance raised its position in shares of MercadoLibre by 1.2% during the 4th quarter. Independent Advisor Alliance now owns 586 shares of the company’s stock worth $921,000 after buying an additional 7 shares in the last quarter. Hilltop National Bank lifted its stake in shares of MercadoLibre by 14.3% in the 2nd 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. Finally, Contravisory Investment Management Inc. boosted its holdings in shares of MercadoLibre by 5.1% in the second quarter. Contravisory Investment Management Inc. now owns 143 shares of the company’s stock valued at $235,000 after acquiring an additional 7 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on MELI. New Street Research downgraded MercadoLibre from a “buy” rating to a “neutral” rating in a research report on Friday, May 24th. Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and raised their target price for the company from $1,400.00 to $2,100.00 in a research note on Monday, May 20th. BTIG Research upped their price target on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Dbs Bank raised shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. Finally, The Goldman Sachs Group raised their target price on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $2,067.92.

MercadoLibre Stock Up 2.3 %

NASDAQ:MELI opened at $2,061.66 on Friday. MercadoLibre, Inc. has a 1-year low of $1,141.04 and a 1-year high of $2,064.76. The firm has a market capitalization of $104.53 billion, a price-to-earnings ratio of 92.24, a PEG ratio of 1.36 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. The business’s fifty day moving average price is $1,777.26 and its 200 day moving average price is $1,651.05.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $4.64 billion. During the same period in the prior year, the firm earned $5.16 earnings per share. The firm’s revenue was up 41.5% compared to the same quarter last year. On average, sell-side analysts forecast that MercadoLibre, Inc. will post 35.22 earnings per share for the current fiscal 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.