Investment House LLC Sells 2,821 Shares of MercadoLibre, Inc. $MELI

Key Points

• Investment House LLC reduced its MercadoLibre stake by 12.6% in the third quarter, selling 2,821 shares and retaining 19,550 shares valued at approximately $33.8 million. Institutional investors collectively own 87.62% of MELI.
• MercadoLibre recently reported stronger-than-expected results, with quarterly revenue of $10.17 billion, up 49.8% year over year, and earnings per share of $9.19 versus analysts’ $8.65 estimate.
• Analyst sentiment remains generally positive: 12 analysts rate the stock a Buy and six rate it Hold, producing a Moderate Buy consensus and an average price target of $2,251.88, despite MELI trading down 1.6% at $1,824.95.

Investment House LLC cut its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 12.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,550 shares of the company's stock after selling 2,821 shares during the quarter. MercadoLibre comprises about 1.5% of Investment House LLC's holdings, making the stock its 14th largest position. Investment House LLC's holdings in MercadoLibre were worth $33,793,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. CORDA Investment Management LLC. acquired a new stake in MercadoLibre in the second quarter worth $1,241,000. Deutsche Bank AG acquired a new position in shares of MercadoLibre during the second quarter worth approximately $279,445,000. State Street Corp lifted its holdings in shares of MercadoLibre by 7.7% in the 2nd quarter. State Street Corp now owns 459,748 shares of the company's stock worth $780,372,000 after purchasing an additional 32,734 shares in the last quarter. Allianz Asset Management GmbH increased its stake in MercadoLibre by 72.5% during the 2nd quarter. Allianz Asset Management GmbH now owns 102,614 shares of the company's stock valued at $174,176,000 after purchasing an additional 43,130 shares in the last quarter. Finally, Nykredit A S acquired a new position in MercadoLibre during the second quarter worth $43,261,000. 87.62% of the stock is owned by institutional investors.

MercadoLibre Stock Down 1.6%

MELI opened at $1,824.95 on Friday. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,428.00. The company has a fifty day moving average price of $1,862.71 and a 200-day moving average price of $1,788.57. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10. The firm has a market capitalization of $92.52 billion, a P/E ratio of 49.63, a price-to-earnings-growth ratio of 1.30 and a beta of 1.31.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $9.19 earnings per share for the quarter, beating analysts' consensus estimates of $8.65 by $0.54. The business had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. MercadoLibre's quarterly revenue was up 49.8% on a year-over-year basis. During the same period last year, the firm posted $10.31 earnings per share. Equities research analysts expect that MercadoLibre, Inc. will post 38.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MELI has been the subject of a number of analyst reports. Citigroup cut their price target on MercadoLibre from $2,150.00 to $2,100.00 and set a "neutral" rating for the company in a research note on Tuesday, October 13th. Susquehanna upped their price objective on shares of MercadoLibre to $2,400.00 and gave the stock a "positive" rating in a research report on Tuesday, October 6th. BTIG Research reiterated a "buy" rating and set a $2,150.00 price target on shares of MercadoLibre in a report on Thursday, September 3rd. Cantor Fitzgerald lowered their target price on MercadoLibre from $2,300.00 to $2,200.00 and set an "overweight" rating on the stock in a research note on Monday, October 12th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of MercadoLibre in a research note on Tuesday, September 29th. Twelve equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $2,251.88.

MercadoLibre Company Profile

MercadoLibre, Inc is a technology company that operates an online commerce and financial services ecosystem across Latin America. Founded in 1999 by Marcos Galperin, the company initially developed an online marketplace and has expanded into a broad platform connecting buyers and sellers with businesses and consumers.

Its commerce operations include the MercadoLibre marketplace, where users can purchase and sell products across numerous categories. The company also offers supporting services such as Mercado Envíos for shipping and logistics, Mercado Ads for digital advertising, and tools for merchants to manage their online businesses.

MercadoLibre's financial technology business is centered on Mercado Pago, which provides digital payment processing, online checkout, money transfer and account services.

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