MercadoLibre, Inc. $MELI Shares Sold by Dupree Financial Group LLC

Key Points

• Dupree Financial Group LLC reduced its stake in MercadoLibre by 39.0%, now holding 3,726 shares valued at approximately $9.74 million.
• Analysts have set varying price targets for MercadoLibre, with the average target being $2,810.88, while ratings include one Strong Buy, fourteen Buy, and two Hold.
• MercadoLibre reported a quarterly revenue increase of 33.8% year-over-year, totaling $6.79 billion, despite an earnings per share (EPS) of $10.31 which missed the consensus estimate.

Dupree Financial Group LLC lessened its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 39.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,726 shares of the company's stock after selling 2,378 shares during the quarter. MercadoLibre accounts for about 3.8% of Dupree Financial Group LLC's investment portfolio, making the stock its 6th largest position. Dupree Financial Group LLC's holdings in MercadoLibre were worth $9,738,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of MELI. Whittier Trust Co. of Nevada Inc. raised its stake in MercadoLibre by 52.5% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,203 shares of the company's stock worth $3,144,000 after acquiring an additional 414 shares in the last quarter. Whittier Trust Co. grew its holdings in shares of MercadoLibre by 26.6% in the 2nd quarter. Whittier Trust Co. now owns 2,183 shares of the company's stock worth $5,706,000 after purchasing an additional 459 shares during the last quarter. Avidian Wealth Enterprises LLC bought a new stake in shares of MercadoLibre in the 2nd quarter worth about $269,000. DekaBank Deutsche Girozentrale increased its position in shares of MercadoLibre by 3.0% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 55,537 shares of the company's stock worth $144,733,000 after purchasing an additional 1,611 shares in the last quarter. Finally, Bogart Wealth LLC lifted its holdings in MercadoLibre by 0.3% during the 2nd quarter. Bogart Wealth LLC now owns 5,492 shares of the company's stock valued at $14,354,000 after purchasing an additional 14 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on MELI. Daiwa Capital Markets began coverage on shares of MercadoLibre in a research note on Friday, August 1st. They set a "buy" rating and a $3,000.00 price objective on the stock. Raymond James Financial reissued a "strong-buy" rating and issued a $2,750.00 target price on shares of MercadoLibre in a report on Tuesday, August 5th. Weiss Ratings restated a "buy (b)" rating on shares of MercadoLibre in a research report on Wednesday, October 8th. Citigroup cut their price objective on MercadoLibre from $2,850.00 to $2,700.00 and set a "buy" rating for the company in a research report on Thursday, October 9th. Finally, Jefferies Financial Group reissued a "hold" rating and issued a $2,800.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $2,810.88.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $2,102.11 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. The firm has a 50 day simple moving average of $2,332.51 and a 200 day simple moving average of $2,354.26. MercadoLibre, Inc. has a fifty-two week low of $1,646.00 and a fifty-two week high of $2,645.22. The firm has a market cap of $106.57 billion, a P/E ratio of 51.92, a P/E/G ratio of 1.37 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $12.01 by ($1.70). The firm had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The firm's quarterly 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. Sell-side analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share 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.

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