Catalyst Private Wealth LLC Reduces Stock Holdings in MercadoLibre, Inc. $MELI

Key Points

• Catalyst Private Wealth LLC significantly reduced its stake in MercadoLibre, Inc. by 55.4% in the second quarter, now holding a position valued at $423,000.
• Banco Santander S.A. increased its stake by 221.9%, bringing its total to 2,746 shares worth approximately $5,357,000.
• MercadoLibre's recent earnings report showed $6.79 billion in revenue, surpassing estimates, although it reported a miss on EPS with $10.31 compared to the expected $12.01.

Catalyst Private Wealth LLC trimmed its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 55.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 162 shares of the company's stock after selling 201 shares during the quarter. Catalyst Private Wealth LLC's holdings in MercadoLibre were worth $423,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Veracity Capital LLC acquired a new stake in shares of MercadoLibre in the second quarter valued at approximately $238,000. Range Financial Group LLC boosted its holdings in shares of MercadoLibre by 2.7% in the second quarter. Range Financial Group LLC now owns 188 shares of the company's stock valued at $491,000 after acquiring an additional 5 shares during the period. Avity Investment Management Inc. acquired a new stake in shares of MercadoLibre in the second quarter valued at approximately $31,766,000. Quintet Private Bank Europe S.A. boosted its holdings in shares of MercadoLibre by 13.0% in the second quarter. Quintet Private Bank Europe S.A. now owns 174 shares of the company's stock valued at $455,000 after acquiring an additional 20 shares during the period. Finally, Parallel Advisors LLC boosted its holdings in shares of MercadoLibre by 167.3% in the second quarter. Parallel Advisors LLC now owns 532 shares of the company's stock valued at $1,391,000 after acquiring an additional 333 shares during the period. 87.62% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MELI. Jefferies Financial Group reissued a "hold" rating and issued a $2,800.00 price objective on shares of MercadoLibre in a report on Tuesday, August 5th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $2,750.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Daiwa Capital Markets initiated coverage on MercadoLibre in a report on Friday, August 1st. They set a "buy" rating and a $3,000.00 price target for the company. Citigroup decreased their price target 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. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $2,700.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. One 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 company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $2,817.22.

MercadoLibre Price Performance

NASDAQ:MELI traded up $30.05 during trading hours on Thursday, hitting $2,476.37. The company's stock had a trading volume of 378,802 shares, compared to its average volume of 359,535. The business's 50-day moving average is $2,380.81 and its two-hundred day moving average is $2,313.86. The company has a market capitalization of $125.55 billion, a PE ratio of 61.16, a PEG ratio of 1.59 and a beta of 1.49. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. 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 released its quarterly earnings data 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 analysts' expectations of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The company's revenue was up 33.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $10.48 EPS. As a group, research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

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.