Cumberland Partners Ltd Sells 200 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Key Points

• Cumberland Partners Ltd reduced its stake in MercadoLibre, Inc. by 8.7%, selling 200 shares, which brings its total holdings to 2,100 shares valued at $4,097,000.
• Analysts have mixed ratings on MercadoLibre, with a consensus of "Moderate Buy" and an average target price of $2,707.50.
• MercadoLibre reported a quarterly revenue of $5.94 billion, exceeding expectations and following a 37% year-over-year increase in revenue.

Cumberland Partners Ltd cut its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 8.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,100 shares of the company's stock after selling 200 shares during the period. Cumberland Partners Ltd's holdings in MercadoLibre were worth $4,097,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of MELI. Key Financial Inc bought a new stake in MercadoLibre in the first quarter valued at approximately $25,000. GW&K Investment Management LLC bought a new stake in MercadoLibre in the first quarter valued at approximately $25,000. Park Square Financial Group LLC bought a new stake in MercadoLibre in the fourth quarter valued at approximately $26,000. Covestor Ltd bought a new stake in MercadoLibre in the fourth quarter valued at approximately $27,000. Finally, Close Asset Management Ltd boosted its holdings in MercadoLibre by 366.7% in the first quarter. Close Asset Management Ltd now owns 14 shares of the company's stock valued at $27,000 after acquiring an additional 11 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MELI. Morgan Stanley reiterated an "overweight" rating on shares of MercadoLibre in a report on Thursday, May 1st. Daiwa Capital Markets assumed coverage on MercadoLibre in a report on Friday. They issued a "buy" rating and a $3,000.00 target price on the stock. Susquehanna restated a "positive" rating and set a $2,975.00 price target (up from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. JPMorgan Chase & Co. increased their price target on MercadoLibre from $2,250.00 to $2,600.00 and gave the stock a "neutral" rating in a report on Thursday, May 22nd. Finally, Benchmark cut MercadoLibre from a "buy" rating to a "cautious" rating in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $2,707.50.

MercadoLibre Stock Up 0.8%

Shares of MELI stock traded up $19.91 during mid-day trading on Monday, hitting $2,395.83. The company's stock had a trading volume of 557,159 shares, compared to its average volume of 275,352. The stock has a market cap of $121.47 billion, a price-to-earnings ratio of 58.92, a PEG ratio of 1.41 and a beta of 1.46. The company has a debt-to-equity ratio of 0.57, 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. The business has a 50-day moving average price of $2,455.84 and a 200 day moving average price of $2,229.19.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing analysts' consensus estimates of $12.01 by ($1.70). MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. MercadoLibre's quarterly revenue was up 33.8% on a year-over-year basis. During the same period in the previous year, the firm posted $10.48 EPS. Research analysts predict 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.