Meitav Investment House Ltd. Trims Stock Holdings in MercadoLibre, Inc. $MELI

Key Points

• Meitav Investment House Ltd. has reduced its ownership in MercadoLibre, Inc. by 47.2%, now holding 1,112 shares valued at approximately $2.9 million.
• MercadoLibre's recent quarterly earnings revealed $10.31 earnings per share, missing expectations of $12.01, despite revenue exceeding forecasts at $6.79 billion.
• Analysts have varied price targets for MercadoLibre, with Scotiabank setting a target of $3,500.00 and Barclays lowering theirs to $3,000.00, reflecting mixed sentiments on the stock's performance.

Meitav Investment House Ltd. reduced its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 47.2% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,112 shares of the company's stock after selling 993 shares during the period. Meitav Investment House Ltd.'s holdings in MercadoLibre were worth $2,906,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Key Financial Inc acquired a new position in shares of MercadoLibre during the 1st quarter worth approximately $25,000. GW&K Investment Management LLC purchased a new stake in MercadoLibre in the 1st quarter worth $25,000. Close Asset Management Ltd increased its holdings in MercadoLibre by 366.7% in the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company's stock worth $27,000 after acquiring an additional 11 shares in the last quarter. Brooklyn Investment Group raised its position in MercadoLibre by 650.0% during the first quarter. Brooklyn Investment Group now owns 15 shares of the company's stock worth $29,000 after acquiring an additional 13 shares during the period. Finally, Twin Tree Management LP purchased a new position in MercadoLibre during the first quarter valued at $29,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Price Performance

MercadoLibre stock opened at $2,154.22 on Tuesday. The firm has a market cap of $109.22 billion, a PE ratio of 53.20, a price-to-earnings-growth ratio of 1.45 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 company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. The company's 50 day moving average is $2,378.30 and its two-hundred day moving average is $2,345.89.

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

Analysts Set New Price Targets

Several analysts recently commented on the company. Scotiabank started coverage on MercadoLibre in a research report on Monday, July 28th. They set a "sector outperform" rating and a $3,500.00 price target for the company. Barclays dropped their target price on MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. Wall Street Zen cut shares of MercadoLibre from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. Benchmark restated a "buy" rating and set a $2,875.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 5th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and set a $2,750.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.