Knights of Columbus Asset Advisors LLC Reduces Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Key Points

• Knights of Columbus Asset Advisors LLC reduced its holdings in MercadoLibre Inc. by 48.4%, now owning 1,076 shares valued at approximately $2.1 million as of the latest SEC filing.
• Several institutional investors have recently increased their stakes in MercadoLibre, with Capital Research Global Investors raising its position by 8.0% in the fourth quarter.
• MercadoLibre reported earnings of $9.74 per share, surpassing expectations and showing a 37% increase in quarterly revenue compared to the previous year.

Knights of Columbus Asset Advisors LLC trimmed its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 48.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,076 shares of the company's stock after selling 1,011 shares during the quarter. Knights of Columbus Asset Advisors LLC's holdings in MercadoLibre were worth $2,099,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Key Financial Inc acquired a new position in MercadoLibre during the 1st quarter worth approximately $25,000. GW&K Investment Management LLC acquired a new position in MercadoLibre during the 1st quarter worth approximately $25,000. Park Square Financial Group LLC acquired a new position in MercadoLibre during the 4th quarter worth approximately $26,000. Covestor Ltd acquired a new position in MercadoLibre during the 4th quarter worth approximately $27,000. Finally, Close Asset Management Ltd raised its stake in MercadoLibre by 366.7% during the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company's stock worth $27,000 after buying an additional 11 shares during the period. 87.62% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MELI has been the subject of a number of recent research reports. The Goldman Sachs Group boosted their price objective on MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. Citigroup reissued a "buy" rating on shares of MercadoLibre in a report on Friday, June 6th. Scotiabank initiated coverage on MercadoLibre in a report on Monday. They set a "sector outperform" rating and a $3,500.00 price objective for the company. Cantor Fitzgerald decreased their price objective on MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating for the company in a report on Wednesday, June 11th. Finally, Wall Street Zen lowered MercadoLibre from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $2,690.29.

MercadoLibre Stock Performance

NASDAQ MELI traded up $4.99 on Wednesday, hitting $2,389.89. 70,129 shares of the stock traded hands, compared to its average volume of 389,205. The business's fifty day moving average is $2,467.53 and its two-hundred day moving average is $2,213.97. MercadoLibre, Inc. has a 12 month low of $1,579.78 and a 12 month high of $2,645.22. The firm has a market capitalization of $121.16 billion, a price-to-earnings ratio of 58.88, a PEG ratio of 1.40 and a beta of 1.49. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.18 and a current ratio of 1.20.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, beating the consensus estimate of $7.82 by $1.92. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. The business had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.55 billion. During the same period in the prior year, the company earned $6.78 earnings per share. MercadoLibre's revenue was up 37.0% compared to the same quarter last year. As a group, equities 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.