MercadoLibre, Inc. $MELI Shares Sold by Woodward Diversified Capital LLC

Key Points

• Woodward Diversified Capital LLC reduced its stake in MercadoLibre by 17.5%, leaving it with 547 shares valued at approximately $1.43 million.
• Institutional investors now own 87.62% of MercadoLibre's shares, with notable increases from Assenagon Asset Management and Invesco in the first quarter.
• Analysts have given MercadoLibre a consensus rating of "Moderate Buy", with a target price averaging around $2,828.33.

Woodward Diversified Capital LLC cut its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 17.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 547 shares of the company's stock after selling 116 shares during the quarter. Woodward Diversified Capital LLC's holdings in MercadoLibre were worth $1,430,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Assenagon Asset Management S.A. increased its stake in shares of MercadoLibre by 170.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 274,960 shares of the company's stock worth $536,411,000 after acquiring an additional 173,449 shares during the last quarter. Invesco Ltd. boosted its holdings in MercadoLibre by 22.4% in the 1st quarter. Invesco Ltd. now owns 570,967 shares of the company's stock valued at $1,113,881,000 after purchasing an additional 104,554 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of MercadoLibre by 21.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company's stock valued at $1,073,823,000 after buying an additional 96,283 shares during the period. GQG Partners LLC increased its holdings in shares of MercadoLibre by 23.5% during the 1st quarter. GQG Partners LLC now owns 461,875 shares of the company's stock worth $901,058,000 after buying an additional 87,912 shares during the last quarter. Finally, Nuveen LLC acquired a new position in MercadoLibre in the first quarter valued at approximately $143,367,000. Institutional investors and hedge funds own 87.62% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on MELI shares. Wedbush set a $2,700.00 price target on MercadoLibre and gave the stock an "outperform" rating in a report on Tuesday, August 5th. JPMorgan Chase & Co. lifted their price target on shares of MercadoLibre from $2,600.00 to $2,700.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Cantor Fitzgerald upped their price objective on shares of MercadoLibre from $2,700.00 to $2,900.00 and gave the stock an "overweight" rating in a report on Wednesday, September 24th. Jefferies Financial Group reissued a "hold" rating and issued a $2,800.00 target price on shares of MercadoLibre in a research report on Tuesday, August 5th. Finally, Wall Street Zen cut MercadoLibre from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $2,828.33.

MercadoLibre Stock Performance

Shares of MELI opened at $2,176.91 on Thursday. MercadoLibre, Inc. has a 1 year low of $1,646.00 and a 1 year high of $2,645.22. The stock has a market capitalization of $110.37 billion, a PE ratio of 53.76, a PEG ratio of 1.52 and a beta of 1.46. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. The stock has a 50-day simple moving average of $2,388.98 and a 200-day simple moving average of $2,339.49.

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

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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