Aberdeen Group plc Has $173.22 Million Stock Holdings in MercadoLibre, Inc. $MELI

Key Points

• Aberdeen Group plc reduced its holdings in MercadoLibre, Inc. by 8.8% during Q2, owning 66,529 shares valued at approximately $173.22 million.
• Analyst ratings for MercadoLibre have varied, with one strong buy, fourteen buy ratings, and two hold ratings, while the consensus target price stands at $2,815.29.
• MercadoLibre's stock opened at $2,133.67, experiencing a 6.2% decline, and reported $10.31 EPS, missing estimates of $12.01 EPS in its last earnings report.

Aberdeen Group plc decreased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 8.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 66,529 shares of the company's stock after selling 6,391 shares during the quarter. Aberdeen Group plc owned approximately 0.13% of MercadoLibre worth $173,220,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of MELI. Bison Wealth LLC bought a new stake in shares of MercadoLibre during the 4th quarter worth $206,000. Farther Finance Advisors LLC boosted its holdings in MercadoLibre by 135.6% in the 1st quarter. Farther Finance Advisors LLC now owns 629 shares of the company's stock valued at $1,205,000 after purchasing an additional 362 shares during the period. Yousif Capital Management LLC bought a new stake in MercadoLibre in the 1st quarter valued at $261,000. Wealthcare Advisory Partners LLC boosted its holdings in MercadoLibre by 16.7% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 258 shares of the company's stock valued at $503,000 after purchasing an additional 37 shares during the period. Finally, CX Institutional bought a new stake in MercadoLibre in the 1st quarter valued at $224,000. Institutional investors and hedge funds own 87.62% of the company's stock.

Analyst Upgrades and Downgrades

MELI has been the subject of a number of research reports. Weiss Ratings reissued a "buy (b)" rating on shares of MercadoLibre in a report on Wednesday. Barclays reduced their price target on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. Daiwa Capital Markets began coverage on shares of MercadoLibre in a report on Friday, August 1st. They issued a "buy" rating and a $3,000.00 price target for the company. Jefferies Financial Group restated a "hold" rating and issued a $2,800.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of MercadoLibre from $2,700.00 to $2,600.00 and set a "neutral" rating for the company in a research note on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $2,815.29.

MercadoLibre Trading Down 6.2%

Shares of MercadoLibre stock opened at $2,133.67 on Friday. The stock has a market capitalization of $108.18 billion, a P/E ratio of 52.70, a price-to-earnings-growth ratio of 1.52 and a beta of 1.46. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. The company has a 50-day simple moving average of $2,363.50 and a 200 day simple moving average of $2,344.22. MercadoLibre, Inc. has a 12-month low of $1,646.00 and a 12-month high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $12.01 by ($1.70). The firm had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The company's revenue for the quarter was up 33.8% compared to the same quarter last year. During the same quarter last year, the business earned $10.48 EPS. Research analysts expect that MercadoLibre, Inc. will post 43.96 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.

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