Headlands Technologies LLC Sells 1,030 Shares of MercadoLibre, Inc. $MELI

Key Points

• Headlands Technologies LLC reduced its MercadoLibre position by 77.5% in the second quarter, selling 1,030 shares and retaining 299 shares valued at approximately $508,000.
• MercadoLibre reported strong quarterly results, with revenue rising 49.8% year over year to $10.17 billion and EPS of $9.19, exceeding analyst expectations.
• The stock opened at $2,006.58, while analysts maintain a consensus “Moderate Buy” rating and an average price target of $2,272; institutional investors own 87.62% of the shares.

Headlands Technologies LLC trimmed its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 77.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 299 shares of the company's stock after selling 1,030 shares during the period. Headlands Technologies LLC's holdings in MercadoLibre were worth $508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of MELI. Transamerica Financial Advisors LLC purchased a new stake in MercadoLibre during the fourth quarter valued at $26,000. Purpose Unlimited Inc. bought a new stake in shares of MercadoLibre in the 4th quarter worth about $28,000. Wedbush Fund Advisers LLC bought a new stake in shares of MercadoLibre in the 2nd quarter worth about $29,000. Darwin Wealth Management LLC purchased a new stake in shares of MercadoLibre during the 2nd quarter valued at about $29,000. Finally, Curio Wealth LLC purchased a new stake in shares of MercadoLibre during the 4th quarter valued at about $30,000. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Price Performance

MercadoLibre stock opened at $2,006.58 on Thursday. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,548.50. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. The firm has a 50-day moving average price of $1,845.93 and a 200-day moving average price of $1,769.50. The firm has a market capitalization of $101.73 billion, a PE ratio of 54.57, a price-to-earnings-growth ratio of 1.35 and a beta of 1.31.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $9.19 EPS for the quarter, beating the consensus estimate of $8.65 by $0.54. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The company had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.79 billion. During the same period in the prior year, the firm posted $10.31 EPS. The firm's revenue was up 49.8% compared to the same quarter last year. As a group, equities research analysts forecast that MercadoLibre, Inc. will post 39.11 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently commented on MELI shares. Daiwa Securities Group lowered MercadoLibre from a "buy" rating to a "hold" rating and set a $1,800.00 price target for the company. in a research report on Friday, May 8th. BTIG Research restated a "buy" rating and set a $2,150.00 price objective on shares of MercadoLibre in a research report on Thursday, August 6th. The Goldman Sachs Group set a $2,100.00 price objective on MercadoLibre in a research note on Wednesday, May 13th. Weiss Ratings reiterated a "hold (c)" rating on shares of MercadoLibre in a report on Thursday, July 2nd. Finally, Raymond James Financial set a $2,000.00 target price on MercadoLibre in a research report on Friday, May 8th. Eleven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $2,272.00.

MercadoLibre Company Profile

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.

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