Greenland Capital Management LP cut its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 52.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 970 shares of the company's stock after selling 1,060 shares during the period. Greenland Capital Management LP's holdings in MercadoLibre were worth $1,646,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Brown Advisory Inc. increased its position in MercadoLibre by 2,494.9% during the 4th quarter. Brown Advisory Inc. now owns 15,362 shares of the company's stock worth $30,943,000 after purchasing an additional 14,770 shares in the last quarter. Thompson Siegel & Walmsley LLC boosted its position in MercadoLibre by 238.3% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,030 shares of the company's stock valued at $4,089,000 after buying an additional 1,430 shares in the last quarter. TIAA Trust National Association boosted its position in MercadoLibre by 10.9% in the fourth quarter. TIAA Trust National Association now owns 11,011 shares of the company's stock valued at $22,179,000 after buying an additional 1,083 shares in the last quarter. Deepwater Asset Management LLC grew its stake in shares of MercadoLibre by 38.6% during the fourth quarter. Deepwater Asset Management LLC now owns 7,765 shares of the company's stock worth $15,641,000 after buying an additional 2,164 shares during the last quarter. Finally, Deutsche Bank AG bought a new stake in shares of MercadoLibre during the second quarter worth $279,445,000. Institutional investors and hedge funds own 87.62% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on the company. Barclays dropped their price target on MercadoLibre from $2,500.00 to $2,300.00 and set an "overweight" rating for the company in a research note on Monday, May 11th. Raymond James Financial set a $2,000.00 price objective on MercadoLibre in a research report on Friday, May 8th. Weiss Ratings reiterated a "hold (c)" rating on shares of MercadoLibre in a research report on Thursday, July 2nd. Daiwa Securities Group downgraded MercadoLibre from a "buy" rating to a "hold" rating and set a $1,800.00 target price for the company. in a research report on Friday, May 8th. Finally, Scotiabank cut their price target on MercadoLibre from $3,500.00 to $2,800.00 and set a "sector outperform" rating on the stock in a research note on Thursday, May 7th. Eleven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $2,272.00.
Check Out Our Latest Analysis on MELI
MercadoLibre Price Performance
MELI stock opened at $1,922.73 on Friday. The company has a fifty day moving average price of $1,793.05 and a 200-day moving average price of $1,775.94. The company has a market capitalization of $97.48 billion, a P/E ratio of 52.29, a PEG ratio of 1.32 and a beta of 1.34. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,548.50. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12.
MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $9.19 earnings per share for the quarter, topping the consensus estimate of $8.65 by $0.54. The company had revenue of $10.17 billion for the quarter, compared to analysts' expectations of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. MercadoLibre's revenue for the quarter was up 49.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $10.31 earnings per share. As a group, equities analysts expect that MercadoLibre, Inc. will post 39.11 EPS for the current year.
MercadoLibre Profile
(
Free Report)
MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.
Key offerings include its marketplace platform and a suite of logistics and payment services.
Further Reading
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