MercadoLibre, Inc. $MELI Shares Sold by Guggenheim Capital LLC

Key Points

• Guggenheim Capital LLC reduced its stake in MercadoLibre by 22.9%, ending the quarter with 9,855 shares valued at approximately $19.2 million.
• MercadoLibre reported earnings per share of $10.31, missing estimates, but showed a revenue increase of 33.8% year-over-year, totaling $6.79 billion.
• Analysts have set new price targets for MercadoLibre, with Jefferies Financial Group maintaining a target of $2,800 and UBS Group proposing a target of $3,000.

Guggenheim Capital LLC lowered its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 22.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,855 shares of the company's stock after selling 2,919 shares during the quarter. Guggenheim Capital LLC's holdings in MercadoLibre were worth $19,226,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Ieq Capital LLC lifted its position in MercadoLibre by 16.9% in the first quarter. Ieq Capital LLC now owns 2,195 shares of the company's stock valued at $4,282,000 after buying an additional 317 shares during the last quarter. Aristides Capital LLC acquired a new position in MercadoLibre in the first quarter valued at about $2,536,000. Orion Capital Management LLC lifted its position in MercadoLibre by 90.9% in the first quarter. Orion Capital Management LLC now owns 105 shares of the company's stock valued at $205,000 after buying an additional 50 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of MercadoLibre by 7.3% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 67,410 shares of the company's stock worth $131,508,000 after purchasing an additional 4,562 shares in the last quarter. Finally, Comerica Bank lifted its position in shares of MercadoLibre by 10.9% during the first quarter. Comerica Bank now owns 2,660 shares of the company's stock worth $5,189,000 after purchasing an additional 262 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Stock Up 0.3%

MELI stock opened at $2,413.43 on Thursday. The company's 50 day moving average price is $2,410.93 and its 200 day moving average price is $2,282.38. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. 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 capitalization of $122.36 billion, a price-to-earnings ratio of 59.61, a PEG ratio of 1.56 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results 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). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The firm had revenue of $6.79 billion for the quarter, compared to analysts' expectations of $6.57 billion. During the same quarter in the previous year, the company posted $10.48 earnings per share. The firm's quarterly revenue was up 33.8% on a year-over-year basis. On average, equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MELI. Morgan Stanley reissued an "overweight" rating on shares of MercadoLibre in a research report on Thursday, May 1st. Jefferies Financial Group reissued a "hold" rating and set a $2,800.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. Wall Street Zen cut shares of MercadoLibre from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. Wedbush set a $2,700.00 price target on shares of MercadoLibre and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Finally, UBS Group set a $3,000.00 price target on shares of MercadoLibre in a research report on Monday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, MercadoLibre presently has an average rating of "Moderate Buy" and a consensus price target of $2,817.22.

MercadoLibre Profile

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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