Generate Investment Management Ltd Sells 348 Shares of MercadoLibre, Inc. $MELI

Key Points

• Generate Investment Management Ltd has decreased its stake in MercadoLibre, Inc. by 8.4%, selling 348 shares, leaving it with 3,819 shares valued at approximately $9,981,000.
• Several analysts have set new price targets for MercadoLibre, with Cantor Fitzgerald raising its target from $2,700.00 to $2,900.00 and a majority maintaining a rating of "Buy" or higher.
• MercadoLibre reported earnings of $10.31 per share, below expectations, but its revenue rose 33.8% year-over-year, totaling $6.79 billion for the quarter.

Generate Investment Management Ltd trimmed its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 8.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,819 shares of the company's stock after selling 348 shares during the quarter. Generate Investment Management Ltd's holdings in MercadoLibre were worth $9,981,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of MELI. Key Financial Inc acquired a new position in MercadoLibre during the first quarter worth $25,000. GW&K Investment Management LLC bought a new stake in shares of MercadoLibre in the 1st quarter worth about $25,000. Close Asset Management Ltd grew its holdings in shares of MercadoLibre by 366.7% in the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company's stock worth $27,000 after purchasing an additional 11 shares during the last quarter. Brooklyn Investment Group increased its position in shares of MercadoLibre by 650.0% during the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company's stock worth $29,000 after purchasing an additional 13 shares in the last quarter. Finally, Twin Tree Management LP bought a new position in MercadoLibre during the 1st quarter valued at about $29,000. 87.62% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on MELI. Cantor Fitzgerald raised their price objective on shares of MercadoLibre from $2,700.00 to $2,900.00 and gave the stock an "overweight" rating in a report on Wednesday, September 24th. Wedbush set a $2,700.00 price objective on MercadoLibre and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Wall Street Zen lowered MercadoLibre from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. JPMorgan Chase & Co. raised their target price on 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, Jefferies Financial Group reiterated a "hold" rating and set a $2,800.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $2,828.33.

MercadoLibre Stock Down 1.0%

Shares of NASDAQ MELI opened at $2,468.42 on Monday. MercadoLibre, Inc. has a 1 year low of $1,646.00 and a 1 year high of $2,645.22. The firm's 50-day moving average is $2,391.84 and its 200-day moving average is $2,337.29. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $125.15 billion, a PE ratio of 60.96, a price-to-earnings-growth ratio of 1.61 and a beta of 1.49.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $10.31 earnings per share for the quarter, missing the consensus estimate of $12.01 by ($1.70). MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The business had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.57 billion. During the same quarter in the prior year, the company earned $10.48 earnings per share. The company's quarterly revenue was up 33.8% on a year-over-year basis. Equities analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current 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.

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