Bulltick Wealth Management LLC Trims Position in MercadoLibre, Inc. (NASDAQ:MELI)

Key Points

• Bulltick Wealth Management LLC reduced its holdings in MercadoLibre, Inc. by 12.4%, owning 2,807 shares worth approximately $5.48 million at the end of the first quarter.
• MercadoLibre reported earnings of $10.31 per share, missing analysts' expectations of $12.01, despite revenue rising 33.8% year-over-year to $6.79 billion.
• Analysts maintain a generally positive outlook, with an average rating of "Moderate Buy" and a target price of $2,795.00 for MercadoLibre shares.

Bulltick Wealth Management LLC decreased its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 12.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,807 shares of the company's stock after selling 398 shares during the quarter. MercadoLibre accounts for 1.5% of Bulltick Wealth Management LLC's portfolio, making the stock its 20th biggest holding. Bulltick Wealth Management LLC's holdings in MercadoLibre were worth $5,476,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in MELI. Bank Pictet & Cie Europe AG bought a new position in shares of MercadoLibre during the 4th quarter valued at approximately $561,000. Scotia Capital Inc. grew its position in MercadoLibre by 124.6% in the 4th quarter. Scotia Capital Inc. now owns 584 shares of the company's stock valued at $993,000 after acquiring an additional 324 shares during the last quarter. Treasurer of the State of North Carolina grew its position in MercadoLibre by 139.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 599 shares of the company's stock valued at $1,019,000 after acquiring an additional 349 shares during the last quarter. Covestor Ltd bought a new position in MercadoLibre in the 4th quarter valued at $27,000. Finally, Townsquare Capital LLC grew its position in MercadoLibre by 65.9% in the 4th quarter. Townsquare Capital LLC now owns 2,957 shares of the company's stock valued at $5,028,000 after acquiring an additional 1,175 shares during the last quarter. Institutional investors own 87.62% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $2,750.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 5th. Morgan Stanley reaffirmed an "overweight" rating on shares of MercadoLibre in a research report on Thursday, May 1st. UBS Group set a $3,000.00 price objective on MercadoLibre in a research report on Monday, June 2nd. Barclays lowered their target price on MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. Finally, Susquehanna reiterated a "positive" rating and issued a $2,975.00 target price (up from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, MercadoLibre has an average rating of "Moderate Buy" and a consensus price target of $2,795.00.

MercadoLibre Stock Down 1.0%

MercadoLibre stock traded down $23.53 during midday trading on Wednesday, reaching $2,327.30. The company's stock had a trading volume of 313,716 shares, compared to its average volume of 358,235. The stock's 50-day simple moving average is $2,421.61 and its 200-day simple moving average is $2,252.11. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. The stock has a market capitalization of $117.99 billion, a P/E ratio of 57.48, a PEG ratio of 1.49 and a beta of 1.46. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced 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 firm had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The firm's revenue for the quarter was up 33.8% on a year-over-year basis. During the same period in the prior year, the company posted $10.48 earnings per share. On average, sell-side analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

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.