MercadoLibre, Inc. $MELI Shares Sold by BI Asset Management Fondsmaeglerselskab A S

Key Points

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BI Asset Management Fondsmaeglerselskab A S cut its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 11.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,960 shares of the company's stock after selling 2,623 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in MercadoLibre were worth $38,939,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Meiji Yasuda Life Insurance Co raised its holdings in shares of MercadoLibre by 0.5% during the fourth quarter. Meiji Yasuda Life Insurance Co now owns 999 shares of the company's stock valued at $1,699,000 after buying an additional 5 shares during the last quarter. Formidable Asset Management LLC raised its holdings in shares of MercadoLibre by 3.2% during the fourth quarter. Formidable Asset Management LLC now owns 160 shares of the company's stock valued at $272,000 after buying an additional 5 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of MercadoLibre by 4.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 118 shares of the company's stock valued at $201,000 after buying an additional 5 shares during the last quarter. Sonora Investment Management Group LLC raised its holdings in shares of MercadoLibre by 3.1% during the first quarter. Sonora Investment Management Group LLC now owns 168 shares of the company's stock valued at $328,000 after buying an additional 5 shares during the last quarter. Finally, Beacon Capital Management LLC raised its holdings in shares of MercadoLibre by 8.3% during the first quarter. Beacon Capital Management LLC now owns 65 shares of the company's stock valued at $127,000 after buying an additional 5 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Price Performance

NASDAQ:MELI traded up $93.18 during midday trading on Friday, hitting $2,430.62. 436,058 shares of the stock were exchanged, compared to its average volume of 369,414. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $123.23 billion, a price-to-earnings ratio of 60.03, a P/E/G ratio of 1.52 and a beta of 1.46. MercadoLibre, Inc. has a one year low of $1,646.00 and a one year high of $2,645.22. The business has a 50-day moving average price of $2,411.33 and a two-hundred day moving average price of $2,273.82.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company's quarterly revenue was up 33.8% compared to the same quarter last year. During the same quarter last year, the firm posted $10.48 EPS. Sell-side analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Wall Street Analyst Weigh In

MELI has been the topic of a number of recent analyst reports. Jefferies Financial Group reaffirmed a "hold" rating and set a $2,800.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Susquehanna reaffirmed a "positive" rating and set a $2,975.00 price target (up previously from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. Daiwa Capital Markets began coverage on MercadoLibre in a report on Friday, August 1st. They set a "buy" rating and a $3,000.00 target price on the stock. Wedbush set a $2,700.00 target price on MercadoLibre and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Finally, Benchmark reissued a "buy" rating and set a $2,875.00 target price on shares of MercadoLibre in a report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $2,817.22.

About MercadoLibre

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.