Banco Bilbao Vizcaya Argentaria S.A. Reduces Stock Holdings in MercadoLibre, Inc. $MELI

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. reduced its stock holdings in MercadoLibre, Inc. by 78.5%, selling 11,071 shares and retaining 3,039 shares, valued at approximately $5.99 million.
• Several large investors have changed their positions in MercadoLibre, including MIG Capital LLC purchasing a new stake worth $737,000 and Quantbot Technologies LP increasing its holdings by nearly 500%.
• MercadoLibre reported earnings of $10.31 per share for the last quarter, missing estimates, while revenue increased 33.8% year-over-year to $6.79 billion.

Banco Bilbao Vizcaya Argentaria S.A. reduced its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 78.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,039 shares of the company's stock after selling 11,071 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in MercadoLibre were worth $5,990,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. MIG Capital LLC purchased a new stake in shares of MercadoLibre in the 1st quarter valued at $737,000. Matthew 25 Management Corp boosted its holdings in shares of MercadoLibre by 6.9% in the 1st quarter. Matthew 25 Management Corp now owns 14,000 shares of the company's stock valued at $27,312,000 after acquiring an additional 900 shares during the last quarter. Quantbot Technologies LP boosted its holdings in shares of MercadoLibre by 499.7% in the 1st quarter. Quantbot Technologies LP now owns 3,448 shares of the company's stock valued at $6,727,000 after acquiring an additional 2,873 shares during the last quarter. Absolute Gestao de Investimentos Ltda. boosted its holdings in shares of MercadoLibre by 150.0% in the 1st quarter. Absolute Gestao de Investimentos Ltda. now owns 380 shares of the company's stock valued at $741,000 after acquiring an additional 228 shares during the last quarter. Finally, Cornerstone Select Advisors LLC boosted its holdings in shares of MercadoLibre by 7.4% in the 1st quarter. Cornerstone Select Advisors LLC now owns 145 shares of the company's stock valued at $283,000 after acquiring an additional 10 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $2,335.98 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. The company has a fifty day moving average of $2,410.79 and a two-hundred day moving average of $2,267.66. The stock has a market capitalization of $118.43 billion, a PE ratio of 57.69, a P/E/G ratio of 1.50 and a beta of 1.46. MercadoLibre, Inc. has a fifty-two week low of $1,646.00 and a fifty-two week high of $2,645.22.

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 analysts' consensus estimates of $12.01 by ($1.70). The company had revenue of $6.79 billion for 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 was up 33.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $10.48 earnings per share. As a group, research analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MELI. Citigroup dropped their price objective on shares of MercadoLibre from $2,900.00 to $2,850.00 and set a "buy" rating on the stock in a report on Monday. Daiwa Capital Markets began coverage on shares of MercadoLibre in a research note on Friday, August 1st. They issued a "buy" rating and a $3,000.00 target price for the company. Barclays decreased their target price on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. UBS Group set a $3,000.00 target price on shares of MercadoLibre in a research note on Monday, June 2nd. Finally, Wall Street Zen cut shares of MercadoLibre from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $2,817.22.

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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