Groupe la Francaise Sells 3,045 Shares of MercadoLibre, Inc. $MELI

Key Points

• Groupe la Francaise has reduced its stake in MercadoLibre, Inc. by 16.3%, selling 3,045 shares and holding a total of 15,583 shares worth approximately $32.7 million at the end of the reporting period.
• MercadoLibre recently reported an EPS of $10.31 for the last quarter, which fell short of the consensus estimate of $12.01, while its quarterly revenue increased by 33.8% year-over-year.
• Analysts maintain an average rating of "Moderate Buy" for MercadoLibre, with a current price target of about $2,817.22, despite various changes in respective target prices by different brokerages.

Groupe la Francaise cut its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 16.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,583 shares of the company's stock after selling 3,045 shares during the period. Groupe la Francaise's holdings in MercadoLibre were worth $32,693,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Meiji Yasuda Life Insurance Co raised its holdings in shares of MercadoLibre by 0.5% in the 4th quarter. Meiji Yasuda Life Insurance Co now owns 999 shares of the company's stock worth $1,699,000 after buying an additional 5 shares in the last quarter. Formidable Asset Management LLC raised its holdings in shares of MercadoLibre by 3.2% in the 4th quarter. Formidable Asset Management LLC now owns 160 shares of the company's stock worth $272,000 after buying an additional 5 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of MercadoLibre by 4.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 118 shares of the company's stock worth $201,000 after buying an additional 5 shares in the last quarter. Sonora Investment Management Group LLC raised its holdings in shares of MercadoLibre by 3.1% in the 1st quarter. Sonora Investment Management Group LLC now owns 168 shares of the company's stock worth $328,000 after buying an additional 5 shares in the last quarter. Finally, Beacon Capital Management LLC raised its holdings in shares of MercadoLibre by 8.3% in the 1st quarter. Beacon Capital Management LLC now owns 65 shares of the company's stock worth $127,000 after buying an additional 5 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Stock Up 4.0%

NASDAQ MELI opened at $2,430.62 on Friday. The stock has a fifty day moving average of $2,411.33 and a 200-day moving average of $2,273.82. The stock has a market capitalization of $123.23 billion, a P/E ratio of 60.03, a price-to-earnings-growth ratio of 1.52 and a beta of 1.46. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22. 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 released its earnings results on Monday, August 4th. The company reported $10.31 EPS 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 firm had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.57 billion. During the same period last year, the business posted $10.48 earnings per share. The firm's quarterly revenue was up 33.8% on a year-over-year basis. On average, equities research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MELI. Daiwa Capital Markets began coverage on MercadoLibre in a report on Friday, August 1st. They issued a "buy" rating and a $3,000.00 target price for the company. Barclays dropped their price target on MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. Jefferies Financial Group reaffirmed a "hold" rating and set a $2,800.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Susquehanna reaffirmed 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. Finally, Citigroup dropped their price target on MercadoLibre from $2,900.00 to $2,850.00 and set a "buy" rating for the company in a report on Monday, August 18th. 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.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $2,817.22.

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.

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