Global Endowment Management LP Sells 612 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Key Points

• Global Endowment Management LP significantly reduced its stake in MercadoLibre, Inc. by 72.6%, selling 612 shares during the first quarter, leaving it with only 231 shares worth approximately $451,000.
• Despite a drop in earnings per share, MercadoLibre's quarterly revenue surged 33.8% year-over-year to $6.79 billion, surpassing analysts' expectations.
• Investment firms have shown confidence in MercadoLibre with multiple analysts reaffirming "buy" ratings and raising price targets, suggesting a strong market outlook for the stock.

Global Endowment Management LP reduced its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 72.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 231 shares of the company's stock after selling 612 shares during the quarter. Global Endowment Management LP's holdings in MercadoLibre were worth $451,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Banco Santander S.A. raised its stake in shares of MercadoLibre by 221.9% in the first quarter. Banco Santander S.A. now owns 2,746 shares of the company's stock valued at $5,357,000 after buying an additional 1,893 shares during the period. Prospect Financial Services LLC raised its stake in shares of MercadoLibre by 41.7% in the first quarter. Prospect Financial Services LLC now owns 340 shares of the company's stock valued at $663,000 after buying an additional 100 shares during the period. Stratos Investment Management LLC bought a new stake in shares of MercadoLibre in the first quarter valued at $203,000. JARISLOWSKY FRASER Ltd raised its stake in shares of MercadoLibre by 43.6% in the fourth quarter. JARISLOWSKY FRASER Ltd now owns 3,249 shares of the company's stock valued at $5,525,000 after buying an additional 987 shares during the period. Finally, Avant Financial Advisors LLC bought a new stake in shares of MercadoLibre in the fourth quarter valued at $316,000. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Stock Up 3.1%

Shares of NASDAQ:MELI opened at $2,392.30 on Friday. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week high of $2,645.22. The firm has a market capitalization of $121.29 billion, a P/E ratio of 59.08, a P/E/G ratio of 1.47 and a beta of 1.46. The stock has a 50 day moving average price of $2,414.57 and a 200-day moving average price of $2,258.81. 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 (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings results 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). The company had revenue of $6.79 billion during the quarter, compared to analysts' expectations of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%. The business's quarterly revenue was up 33.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $10.48 EPS. As a group, equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Morgan Stanley reiterated an "overweight" rating on shares of MercadoLibre in a research report on Thursday, May 1st. Citigroup reiterated a "buy" rating on shares of MercadoLibre in a research report on Friday, June 6th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $2,700.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. Susquehanna reiterated a "positive" rating and issued a $2,975.00 price target (up from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. Finally, Raymond James Financial reiterated a "strong-buy" rating and issued a $2,750.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $2,795.00.

MercadoLibre 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.

Want to see what other hedge funds are holding MELI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MercadoLibre, Inc. (NASDAQ:MELI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.