Algert Global LLC trimmed its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 39.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,215 shares of the company's stock after selling 1,469 shares during the quarter. Algert Global LLC's holdings in MercadoLibre were worth $3,760,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MELI. Capital Research Global Investors lifted its position in MercadoLibre by 22.5% in the fourth quarter. Capital Research Global Investors now owns 2,225,031 shares of the company's stock valued at $4,481,812,000 after acquiring an additional 408,939 shares during the last quarter. Capital International Investors lifted its position in shares of MercadoLibre by 7.3% in the fourth quarter. Capital International Investors now owns 1,725,125 shares of the company's stock valued at $3,474,880,000 after acquiring an additional 118,018 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in MercadoLibre by 9.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company's stock valued at $3,188,718,000 after purchasing an additional 137,100 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of MercadoLibre in the second quarter worth approximately $2,246,015,000. Finally, Janus Henderson Group PLC grew its stake in MercadoLibre by 1.7% during the first quarter. Janus Henderson Group PLC now owns 614,238 shares of the company's stock worth $1,062,019,000 after buying an additional 10,142 shares during the period. Institutional investors and hedge funds own 87.62% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on MELI. UBS Group reduced their price target on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 13th. BTIG Research restated a "buy" rating and issued a $2,150.00 target price on shares of MercadoLibre in a research note on Thursday, August 6th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of MercadoLibre in a report on Thursday, July 2nd. Scotiabank decreased their price objective on MercadoLibre from $3,500.00 to $2,800.00 and set a "sector outperform" rating on the stock in a report on Thursday, May 7th. Finally, Citigroup lifted their target price on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the company a "neutral" rating in a research report on Wednesday, July 15th. Eleven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, MercadoLibre has a consensus rating of "Moderate Buy" and a consensus target price of $2,272.00.
Check Out Our Latest Stock Analysis on MercadoLibre
MercadoLibre Price Performance
MercadoLibre stock opened at $1,966.25 on Friday. The stock's fifty day moving average price is $1,824.45 and its two-hundred day moving average price is $1,772.36. The firm has a market cap of $99.69 billion, a PE ratio of 53.47, a price-to-earnings-growth ratio of 1.32 and a beta of 1.34. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,548.50.
MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share for the quarter, topping analysts' consensus estimates of $8.65 by $0.54. The business had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. MercadoLibre's quarterly revenue was up 49.8% on a year-over-year basis. During the same quarter last year, the firm earned $10.31 earnings per share. As a group, research analysts expect that MercadoLibre, Inc. will post 39.11 EPS for the current fiscal year.
About MercadoLibre
(
Free Report)
MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.
Key offerings include its marketplace platform and a suite of logistics and payment services.
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