AssuredPartners Investment Advisors LLC Sells 125 Shares of MercadoLibre, Inc. $MELI

Key Points

• AssuredPartners Investment Advisors LLC reduced its stake in MercadoLibre, Inc. by 16.7% during the 2nd quarter, now holding 622 shares valued at approximately $1,626,000.
• MercadoLibre's stock has experienced a 0.3% decrease recently, with its current market capitalization at $103.58 billion and a PE ratio of 50.46.
• The company reported earnings of $10.31 per share, missing estimates, but achieved a revenue of $6.79 billion, exceeding expectations by $0.22 billion during its latest earnings announcement.

AssuredPartners Investment Advisors LLC trimmed its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 16.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 622 shares of the company's stock after selling 125 shares during the period. AssuredPartners Investment Advisors LLC's holdings in MercadoLibre were worth $1,626,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of MELI. Key Financial Inc bought a new stake in MercadoLibre during the 1st quarter valued at $25,000. GW&K Investment Management LLC bought a new stake in MercadoLibre during the 1st quarter valued at $25,000. Close Asset Management Ltd raised its position in MercadoLibre by 366.7% during the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company's stock valued at $27,000 after purchasing an additional 11 shares in the last quarter. Brooklyn Investment Group raised its position in MercadoLibre by 650.0% during the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company's stock valued at $29,000 after purchasing an additional 13 shares in the last quarter. Finally, Twin Tree Management LP bought a new stake in MercadoLibre during the 1st quarter valued at $29,000. 87.62% of the stock is owned by institutional investors.

MercadoLibre Stock Down 0.3%

MercadoLibre stock opened at $2,043.06 on Friday. The stock has a market capitalization of $103.58 billion, a PE ratio of 50.46, a price-to-earnings-growth ratio of 1.38 and a beta of 1.46. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22. The business has a 50 day simple moving average of $2,342.88 and a 200-day simple moving average of $2,345.99. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted 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 analysts' expectations of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The firm's quarterly revenue was up 33.8% compared to the same quarter last year. During the same quarter last year, the firm earned $10.48 earnings per share. On average, analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. dropped their target price on MercadoLibre from $2,700.00 to $2,600.00 and set a "neutral" rating on the stock in a research note on Friday, October 3rd. Raymond James Financial reiterated a "strong-buy" rating and set a $2,750.00 price target on shares of MercadoLibre in a research note on Tuesday, August 5th. Scotiabank assumed coverage on MercadoLibre in a research note on Monday, July 28th. They set a "sector outperform" rating and a $3,500.00 price target on the stock. Wall Street Zen downgraded MercadoLibre from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Finally, Barclays dropped their price target on MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, MercadoLibre has a consensus rating of "Moderate Buy" and an average target price of $2,810.88.

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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