Cerity Partners LLC Sells 590 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Cerity Partners LLC lessened its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 12.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,336 shares of the company's stock after selling 590 shares during the quarter. Cerity Partners LLC's holdings in MercadoLibre were worth $8,459,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in MELI. Capital International Investors lifted its stake in shares of MercadoLibre by 38.7% in the 4th quarter. Capital International Investors now owns 1,687,114 shares of the company's stock valued at $2,868,869,000 after purchasing an additional 470,829 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in MercadoLibre by 41.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company's stock worth $2,370,848,000 after acquiring an additional 405,425 shares in the last quarter. Capital World Investors lifted its position in MercadoLibre by 24.5% during the 4th quarter. Capital World Investors now owns 1,568,602 shares of the company's stock worth $2,667,386,000 after acquiring an additional 308,973 shares in the last quarter. Norges Bank acquired a new position in MercadoLibre during the 4th quarter worth approximately $383,051,000. Finally, Capital Research Global Investors lifted its position in MercadoLibre by 8.0% during the 4th quarter. Capital Research Global Investors now owns 2,415,815 shares of the company's stock worth $4,108,079,000 after acquiring an additional 179,807 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Stock Performance

NASDAQ MELI traded down $24.61 during trading on Thursday, reaching $2,380.54. 176,309 shares of the company's stock were exchanged, compared to its average volume of 387,105. The business has a 50 day moving average price of $2,494.78 and a 200-day moving average price of $2,171.90. The stock has a market capitalization of $120.69 billion, a P/E ratio of 58.58, a PEG ratio of 1.42 and a beta of 1.49. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.20 and a quick ratio of 1.18. MercadoLibre, Inc. has a fifty-two week low of $1,579.78 and a fifty-two week high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, beating the consensus estimate of $7.82 by $1.92. The company had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.55 billion. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. The firm's revenue for the quarter was up 37.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.78 earnings per share. Sell-side analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MELI has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upped their target price on MercadoLibre from $2,250.00 to $2,600.00 and gave the company a "neutral" rating in a research report on Thursday, May 22nd. Citigroup reissued a "buy" rating on shares of MercadoLibre in a report on Friday, June 6th. Wall Street Zen downgraded MercadoLibre from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. UBS Group set a $3,000.00 price objective on MercadoLibre in a research note on Monday, June 2nd. Finally, Susquehanna reaffirmed a "positive" rating and issued a $2,975.00 target price (up from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $2,645.94.

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.