Gulf International Bank UK Ltd Decreases Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Key Points

• Gulf International Bank UK Ltd has reduced its holdings in MercadoLibre, Inc. by 24.4%, now owning 2,674 shares valued at approximately $5.2 million.
• Major analysts have a consensus rating of "Moderate Buy" for MercadoLibre, with price targets ranging from $2,700 to $3,500.
• In its latest earnings report, MercadoLibre missed EPS estimates at $10.31, but experienced a 33.8% revenue growth from the previous year, totaling $6.79 billion.

Gulf International Bank UK Ltd cut its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 24.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,674 shares of the company's stock after selling 863 shares during the quarter. Gulf International Bank UK Ltd's holdings in MercadoLibre were worth $5,216,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MELI. Key Financial Inc acquired a new stake in MercadoLibre in the first quarter valued at approximately $25,000. GW&K Investment Management LLC acquired a new stake in shares of MercadoLibre in the first quarter worth approximately $25,000. Park Square Financial Group LLC acquired a new stake in shares of MercadoLibre in the fourth quarter worth approximately $26,000. Covestor Ltd acquired a new stake in shares of MercadoLibre in the fourth quarter worth approximately $27,000. Finally, Close Asset Management Ltd boosted its stake in shares of MercadoLibre by 366.7% in the first quarter. Close Asset Management Ltd now owns 14 shares of the company's stock worth $27,000 after acquiring an additional 11 shares during the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MELI. Susquehanna reissued a "positive" rating and set a $2,975.00 price objective (up previously from $2,840.00) on shares of MercadoLibre in a research note on Thursday, June 26th. Scotiabank began coverage on MercadoLibre in a research note on Monday, July 28th. They set a "sector outperform" rating and a $3,500.00 price objective on the stock. Daiwa Capital Markets began coverage on MercadoLibre in a research note on Friday, August 1st. They set a "buy" rating and a $3,000.00 price objective on the stock. Cantor Fitzgerald reissued an "overweight" rating and set a $2,700.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. Finally, Morgan Stanley reissued an "overweight" rating on shares of MercadoLibre in a research note on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $2,795.00.

MercadoLibre Stock Performance

MercadoLibre stock opened at $2,350.83 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. The stock has a fifty day moving average of $2,426.54 and a two-hundred day moving average of $2,251.59. The company has a market capitalization of $119.19 billion, a price-to-earnings ratio of 58.06, a PEG ratio of 1.46 and a beta of 1.46. MercadoLibre, Inc. has a fifty-two week low of $1,646.00 and a fifty-two week high of $2,645.22.

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