CreativeOne Wealth LLC Sells 530 Shares of MercadoLibre, Inc. $MELI

Key Points

• CreativeOne Wealth LLC has reduced its holdings in MercadoLibre, Inc. by 80.7%, selling 530 shares and now owning only 127 shares valued at $248,000.
• MercadoLibre's recent quarterly earnings fell short, reporting $10.31 earnings per share, missing estimates by $1.70, while revenue grew by 33.8% year-over-year to $6.79 billion.
• Analyst ratings for MercadoLibre indicate a generally positive outlook, with 14 buy ratings and a consensus price target of $2,817.22 despite some recent downgrades.

CreativeOne Wealth LLC decreased its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 80.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 127 shares of the company's stock after selling 530 shares during the period. CreativeOne Wealth LLC's holdings in MercadoLibre were worth $248,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Formidable Asset Management LLC grew its position in MercadoLibre by 3.2% in the 4th quarter. Formidable Asset Management LLC now owns 160 shares of the company's stock worth $272,000 after purchasing an additional 5 shares in the last quarter. Revolve Wealth Partners LLC boosted its stake in MercadoLibre by 4.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 118 shares of the company's stock valued at $201,000 after acquiring an additional 5 shares during the last quarter. Sonora Investment Management Group LLC boosted its stake in MercadoLibre by 3.1% in the first quarter. Sonora Investment Management Group LLC now owns 168 shares of the company's stock valued at $328,000 after acquiring an additional 5 shares during the last quarter. Beacon Capital Management LLC boosted its stake in MercadoLibre by 8.3% in the first quarter. Beacon Capital Management LLC now owns 65 shares of the company's stock valued at $127,000 after acquiring an additional 5 shares during the last quarter. Finally, Ancora Advisors LLC boosted its stake in MercadoLibre by 10.9% in the fourth quarter. Ancora Advisors LLC now owns 61 shares of the company's stock valued at $104,000 after acquiring an additional 6 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Citigroup dropped their price target on shares of MercadoLibre from $2,900.00 to $2,850.00 and set a "buy" rating on the stock in a research note on Monday, August 18th. Barclays dropped their price target on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 23rd. Daiwa Capital Markets assumed coverage on shares of MercadoLibre in a research note on Friday, August 1st. They set a "buy" rating and a $3,000.00 price target on the stock. JPMorgan Chase & Co. upped their price target on shares of MercadoLibre from $2,600.00 to $2,700.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Finally, Susquehanna restated a "positive" rating and set a $2,975.00 price target (up from $2,840.00) on shares of MercadoLibre in a research note on Thursday, June 26th. One investment 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 company. According to MarketBeat, MercadoLibre has a consensus rating of "Moderate Buy" and an average price target of $2,817.22.

MercadoLibre Trading Down 0.0%

Shares of MELI stock traded down $0.31 on Friday, hitting $2,417.49. 493,478 shares of the company's stock traded hands, compared to its average volume of 300,482. 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 one year low of $1,646.00 and a one year high of $2,645.22. The company's fifty day simple moving average is $2,402.07 and its 200 day simple moving average is $2,301.37. The stock has a market capitalization of $122.57 billion, a price-to-earnings ratio of 59.71, a P/E/G ratio of 1.57 and a beta of 1.49.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing the consensus estimate of $12.01 by ($1.70). The business had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. MercadoLibre's revenue for the quarter was up 33.8% on a year-over-year basis. During the same period in the prior year, the business posted $10.48 EPS. Equities analysts forecast 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.