MercadoLibre, Inc. $MELI Holdings Decreased by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC has reduced its stake in MercadoLibre, Inc. by 13.6%, now holding 2,861 shares valued at approximately $5.58 million.
• The company's recent quarterly earnings report showed an EPS of $10.31, falling short of analysts' expectations of $12.01, though revenue grew by 33.8% compared to the previous year.
• MercadoLibre shares have seen a price range of $1,646.00 to $2,645.22 over the past year, with a current market cap of $118.54 billion.

Intech Investment Management LLC lowered its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 13.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,861 shares of the company's stock after selling 450 shares during the quarter. Intech Investment Management LLC's holdings in MercadoLibre were worth $5,581,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of MELI. Bank Pictet & Cie Europe AG acquired a new position in shares of MercadoLibre during the 4th quarter valued at about $561,000. Bison Wealth LLC acquired a new position in MercadoLibre during the fourth quarter valued at approximately $206,000. Focus Partners Wealth lifted its position in MercadoLibre by 25.1% during the fourth quarter. Focus Partners Wealth now owns 424 shares of the company's stock valued at $721,000 after buying an additional 85 shares in the last quarter. Jefferies Financial Group Inc. lifted its position in MercadoLibre by 569.5% during the fourth quarter. Jefferies Financial Group Inc. now owns 1,031 shares of the company's stock valued at $1,753,000 after buying an additional 877 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its position in MercadoLibre by 5.7% during the fourth quarter. Nuveen Asset Management LLC now owns 64,081 shares of the company's stock valued at $108,966,000 after buying an additional 3,449 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Stock Performance

MELI traded up $1.16 during trading hours on Friday, hitting $2,339.36. 571,805 shares of the stock were exchanged, compared to its average volume of 340,429. The stock has a 50-day simple moving average of $2,384.98 and a 200-day simple moving average of $2,306.83. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22. The stock has a market cap of $118.61 billion, a price-to-earnings ratio of 57.78, a price-to-earnings-growth ratio of 1.52 and a beta of 1.49. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced 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). 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 the consensus estimate of $6.57 billion. During the same quarter last year, the business earned $10.48 earnings per share. The business's revenue for the quarter was up 33.8% compared to the same quarter last year. Analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on MELI shares. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $2,700.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. Scotiabank started coverage on MercadoLibre in a report on Monday, July 28th. They issued a "sector outperform" rating and a $3,500.00 price target for the company. Benchmark restated a "buy" rating and issued a $2,875.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Citigroup decreased their price target on MercadoLibre from $2,900.00 to $2,850.00 and set a "buy" rating for the company in a report on Monday, August 18th. Finally, Barclays decreased their price target 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. One investment 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. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $2,817.22.

MercadoLibre Company 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.