HB Wealth Management LLC Sells 149 Shares of MercadoLibre, Inc. $MELI

Key Points

• HB Wealth Management LLC decreased its stake in MercadoLibre, Inc. by 42.6% in the second quarter, selling 149 shares and holding 201 shares worth approximately $525,000 at the reporting period's end.
• In the first quarter, several institutional investors significantly increased their positions in MercadoLibre, with Assenagon Asset Management boosting its stake by 170.9% and UBS AM increasing by 21.2%.
• MercadoLibre's stock is down 3.3%, trading at $2,172.75, with a recent earnings report showing a profit of $10.31 per share, which was below analysts' expectations.

HB Wealth Management LLC lessened its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 42.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 201 shares of the company's stock after selling 149 shares during the quarter. HB Wealth Management LLC's holdings in MercadoLibre were worth $525,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of MELI. Assenagon Asset Management S.A. boosted its position in MercadoLibre by 170.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 274,960 shares of the company's stock valued at $536,411,000 after acquiring an additional 173,449 shares in the last quarter. Invesco Ltd. boosted its position in MercadoLibre by 22.4% during the 1st quarter. Invesco Ltd. now owns 570,967 shares of the company's stock valued at $1,113,881,000 after acquiring an additional 104,554 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of MercadoLibre by 21.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company's stock worth $1,073,823,000 after purchasing an additional 96,283 shares in the last quarter. GQG Partners LLC boosted its position in shares of MercadoLibre by 23.5% in the 1st quarter. GQG Partners LLC now owns 461,875 shares of the company's stock worth $901,058,000 after purchasing an additional 87,912 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of MercadoLibre in the 1st quarter worth $143,367,000. Institutional investors own 87.62% of the company's stock.

MercadoLibre Stock Down 3.3%

MercadoLibre stock opened at $2,172.75 on Friday. The firm has a market cap of $110.16 billion, a price-to-earnings ratio of 53.66, a price-to-earnings-growth ratio of 1.44 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 business's 50-day moving average price is $2,382.29 and its 200 day moving average price is $2,343.55. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced 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). 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 analysts' expectations of $6.57 billion. During the same quarter in the prior year, the firm earned $10.48 EPS. MercadoLibre's revenue for the quarter was up 33.8% on a year-over-year basis. As a group, sell-side analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MELI has been the subject of a number of recent analyst reports. Benchmark reissued a "buy" rating and issued a $2,875.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 5th. Citigroup lowered their price objective on MercadoLibre from $2,900.00 to $2,850.00 and set a "buy" rating for the company in a research report on Monday, August 18th. Weiss Ratings reissued a "buy (b)" rating on shares of MercadoLibre in a research report on Saturday, September 27th. JPMorgan Chase & Co. lowered their price objective on MercadoLibre from $2,700.00 to $2,600.00 and set a "neutral" rating for the company in a research report on Friday. Finally, Daiwa Capital Markets initiated coverage on MercadoLibre in a research report on Friday, August 1st. They issued a "buy" rating and a $3,000.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $2,822.78.

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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