Baader Bank Aktiengesellschaft Sells 12,811 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Key Points

• Baader Bank Aktiengesellschaft has reduced its stake in MercadoLibre by 87.5%, selling 12,811 shares in the first quarter and now owning only 1,832 shares valued at approximately $3.48 million.
• Multiple institutional investors have either acquired new positions or adjusted their stakes in MercadoLibre, with a significant increase in holdings from Close Asset Management Ltd, which grew its stake by 366.7%.
• Wall Street analysts maintain a consensus rating of "Moderate Buy" for MercadoLibre, with target prices ranging from $2,700 to $3,500, indicating expectations for growth despite some recent downgrades.

Baader Bank Aktiengesellschaft decreased its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 87.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,832 shares of the company's stock after selling 12,811 shares during the quarter. Baader Bank Aktiengesellschaft's holdings in MercadoLibre were worth $3,479,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Key Financial Inc bought a new position in MercadoLibre during the first quarter valued at about $25,000. GW&K Investment Management LLC purchased a new stake in MercadoLibre during the first quarter valued at about $25,000. Park Square Financial Group LLC purchased a new stake in MercadoLibre during the fourth quarter valued at about $26,000. Covestor Ltd purchased a new stake in MercadoLibre during the fourth quarter valued at about $27,000. Finally, Close Asset Management Ltd lifted its holdings in MercadoLibre by 366.7% during the first quarter. Close Asset Management Ltd now owns 14 shares of the company's stock valued at $27,000 after purchasing an additional 11 shares during the last quarter. Institutional investors own 87.62% of the company's stock.

MercadoLibre Price Performance

NASDAQ MELI traded up $6.33 on Friday, reaching $2,380.22. 53,865 shares of the company's stock traded hands, compared to its average volume of 386,826. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.20 and a quick ratio of 1.18. The stock has a 50-day simple moving average of $2,458.47 and a 200 day simple moving average of $2,219.50. The stock has a market cap of $120.68 billion, a PE ratio of 58.62, a P/E/G ratio of 1.42 and a beta of 1.49.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, beating analysts' consensus estimates of $7.82 by $1.92. MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. The business had revenue of $5.94 billion for the quarter, compared to analysts' expectations of $5.55 billion. During the same period last year, the business earned $6.78 earnings per share. The business's quarterly revenue was up 37.0% on a year-over-year basis. As a group, research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Susquehanna reaffirmed a "positive" rating and set a $2,975.00 price objective (up from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. UBS Group set a $3,000.00 price target on shares of MercadoLibre in a report on Monday, June 2nd. The Goldman Sachs Group increased their price target on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. JPMorgan Chase & Co. increased their price target on shares of MercadoLibre from $2,250.00 to $2,600.00 and gave the stock a "neutral" rating in a report on Thursday, May 22nd. Finally, Daiwa Capital Markets initiated coverage on shares of MercadoLibre in a report on Friday. They issued a "buy" rating and a $3,000.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $2,707.50.

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.