MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Altfest L J & Co. Inc.

Key Points

• Altfest L J & Co. Inc. significantly reduced its stakes in MercadoLibre, Inc. by 84.2%, ending with just 136 shares valued at approximately $265,000.
• Other institutional investors, such as Banco Santander and Prospect Financial Services, LLC, increased their positions in MercadoLibre, indicating a mixed sentiment among major investors.
• MercadoLibre's most recent earnings report showed a net margin of 8.52% with a 33.8% increase in revenue year-over-year but missed the earnings per share estimate by $(1.70).

Altfest L J & Co. Inc. cut its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 84.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 136 shares of the company's stock after selling 727 shares during the period. Altfest L J & Co. Inc.'s holdings in MercadoLibre were worth $265,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Banco Santander S.A. boosted its position in shares of MercadoLibre by 221.9% in the first quarter. Banco Santander S.A. now owns 2,746 shares of the company's stock worth $5,357,000 after acquiring an additional 1,893 shares during the last quarter. Prospect Financial Services LLC boosted its position in shares of MercadoLibre by 41.7% in the first quarter. Prospect Financial Services LLC now owns 340 shares of the company's stock worth $663,000 after acquiring an additional 100 shares during the last quarter. Stratos Investment Management LLC acquired a new stake in shares of MercadoLibre in the first quarter worth approximately $203,000. JARISLOWSKY FRASER Ltd boosted its position in shares of MercadoLibre by 43.6% in the fourth quarter. JARISLOWSKY FRASER Ltd now owns 3,249 shares of the company's stock worth $5,525,000 after acquiring an additional 987 shares during the last quarter. Finally, Avant Financial Advisors LLC acquired a new stake in shares of MercadoLibre in the fourth quarter worth approximately $316,000. 87.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Daiwa Capital Markets began coverage on shares of MercadoLibre in a research report on Friday, August 1st. They issued a "buy" rating and a $3,000.00 target price on the stock. Susquehanna reaffirmed a "positive" rating and set a $2,975.00 price target (up from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. Wall Street Zen cut shares of MercadoLibre from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. Scotiabank began coverage on shares of MercadoLibre in a research report on Monday, July 28th. They set a "sector outperform" rating and a $3,500.00 price target on the stock. Finally, The Goldman Sachs Group lifted their price target on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, MercadoLibre has a consensus rating of "Moderate Buy" and a consensus target price of $2,795.00.

MercadoLibre Stock Performance

MercadoLibre stock traded up $72.03 during mid-day trading on Tuesday, reaching $2,364.07. The company's stock had a trading volume of 217,939 shares, compared to its average volume of 394,584. The firm has a market cap of $119.86 billion, a price-to-earnings ratio of 58.39, a PEG ratio of 1.47 and a beta of 1.46. The business has a 50 day moving average price of $2,431.57 and a 200-day moving average price of $2,250.90. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. MercadoLibre, Inc. has a twelve month low of $1,646.00 and a twelve month high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing analysts' consensus estimates of $12.01 by ($1.70). The business had revenue of $6.79 billion during 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 business's revenue for the quarter was up 33.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $10.48 EPS. Sell-side analysts predict that MercadoLibre, Inc. will post 43.96 EPS 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.