Dorsey Wright & Associates Sells 139 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Dorsey Wright & Associates trimmed its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 9.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,278 shares of the company's stock after selling 139 shares during the quarter. Dorsey Wright & Associates' holdings in MercadoLibre were worth $2,493,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MELI. Key Financial Inc acquired a new stake in MercadoLibre in the 1st quarter valued at $25,000. GW&K Investment Management LLC bought a new stake in MercadoLibre during the first quarter worth $25,000. Park Square Financial Group LLC purchased a new stake in MercadoLibre in the 4th quarter valued at $26,000. Covestor Ltd bought a new position in MercadoLibre during the 4th quarter valued at $27,000. Finally, Close Asset Management Ltd lifted its stake in MercadoLibre by 366.7% during the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company's stock valued at $27,000 after acquiring an additional 11 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Price Performance

Shares of MercadoLibre stock traded down $3.38 during trading on Thursday, hitting $2,391.05. 159,372 shares of the stock traded hands, compared to its average volume of 292,780. The stock has a market cap of $121.23 billion, a price-to-earnings ratio of 58.81, a PEG ratio of 1.42 and a beta of 1.49. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.57. MercadoLibre, Inc. has a 52 week low of $1,579.78 and a 52 week high of $2,645.22. The firm's fifty day moving average is $2,480.35 and its 200-day moving average is $2,198.06.

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

Analyst Upgrades and Downgrades

MELI has been the topic of several analyst reports. Morgan Stanley restated an "overweight" rating on shares of MercadoLibre in a report on Thursday, May 1st. Benchmark lowered MercadoLibre from a "buy" rating to a "cautious" rating in a report on Thursday, May 1st. Susquehanna reiterated 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. Jefferies Financial Group reissued a "hold" rating and set a $2,800.00 target price (up from $2,450.00) on shares of MercadoLibre in a research report on Thursday, June 5th. Finally, Citigroup reiterated a "buy" rating on shares of MercadoLibre in a research note on Friday, June 6th. One analyst has rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $2,639.69.

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.