Baird Financial Group Inc. Has $10.48 Million Stake in MercadoLibre, Inc. $MELI

Key Points

• Baird Financial Group Inc. reduced its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 6.2%, selling 356 shares and holding a total of 5,371 shares valued at approximately $10.48 million.
• Several institutional investors have adjusted their positions in MELI, with 87.62% of the stock currently owned by these investors, indicating strong institutional interest.
• Research analysts have given mixed ratings for MELI, with a consensus price target of $2,817.22 and various ratings including "strong-buy", "buy" and "neutral".

Baird Financial Group Inc. decreased its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 6.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,371 shares of the company's stock after selling 356 shares during the quarter. Baird Financial Group Inc.'s holdings in MercadoLibre were worth $10,478,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Key Financial Inc acquired a new position in MercadoLibre in the 1st quarter worth about $25,000. GW&K Investment Management LLC acquired a new position in MercadoLibre in the 1st quarter worth about $25,000. Park Square Financial Group LLC acquired a new position in MercadoLibre in the 4th quarter worth about $26,000. Close Asset Management Ltd raised its holdings in MercadoLibre by 366.7% in the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company's stock worth $27,000 after purchasing an additional 11 shares during the period. Finally, Brooklyn Investment Group raised its holdings in MercadoLibre by 650.0% in the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company's stock worth $29,000 after purchasing an additional 13 shares during the period. Hedge funds and other institutional investors own 87.62% of the company's stock.

MercadoLibre Price Performance

MercadoLibre stock traded down $0.31 during mid-day trading on Friday, hitting $2,417.49. The company's stock had a trading volume of 493,478 shares, compared to its average volume of 300,482. 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 stock has a market capitalization of $122.57 billion, a P/E ratio of 59.71, a P/E/G ratio of 1.57 and a beta of 1.49. MercadoLibre, Inc. has a twelve month low of $1,646.00 and a twelve month high of $2,645.22. The stock's fifty day moving average price is $2,402.07 and its two-hundred day moving average price is $2,301.37.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $10.31 earnings per share for the quarter, missing the consensus estimate of $12.01 by ($1.70). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The firm had revenue of $6.79 billion for the quarter, compared to analysts' expectations of $6.57 billion. During the same quarter in the previous year, the firm posted $10.48 earnings per share. The company's revenue for the quarter was up 33.8% on a year-over-year basis. Research analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analyst Weigh In

MELI has been the subject of a number of research analyst reports. Susquehanna reissued a "positive" rating and set a $2,975.00 target price (up previously from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. Citigroup decreased their target price on MercadoLibre from $2,900.00 to $2,850.00 and set a "buy" rating for the company in a report on Monday, August 18th. Scotiabank began coverage on MercadoLibre in a report on Monday, July 28th. They issued a "sector outperform" rating and a $3,500.00 target price for the company. JPMorgan Chase & Co. lifted their target price on MercadoLibre from $2,600.00 to $2,700.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Finally, The Goldman Sachs Group lifted their target price on MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $2,817.22.

MercadoLibre Company 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.