MercadoLibre, Inc. $MELI Stock: CWA Asset Management Group LLC Decreases Position

Key Points

• CWA Asset Management Group reduced its MercadoLibre position by 10.1% in the third quarter, selling 1,148 shares and retaining 10,192 shares valued at approximately $17.6 million.
• MercadoLibre reported quarterly earnings of $9.19 per share, exceeding estimates of $8.65, while revenue rose 49.8% year over year to $10.17 billion.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus rating and an average price target of $2,251.88; institutional investors own 87.62% of the stock.

CWA Asset Management Group LLC cut its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 10.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,192 shares of the company's stock after selling 1,148 shares during the period. CWA Asset Management Group LLC's holdings in MercadoLibre were worth $17,617,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Purpose Unlimited Inc. purchased a new position in shares of MercadoLibre in the fourth quarter worth about $28,000. Wedbush Fund Advisers LLC purchased a new stake in MercadoLibre during the 2nd quarter valued at about $29,000. Twin Lakes Capital Management LLC acquired a new stake in MercadoLibre in the 2nd quarter valued at about $31,000. Hanson & Doremus Investment Management acquired a new stake in MercadoLibre in the 1st quarter valued at about $35,000. Finally, Markowski Investments acquired a new stake in MercadoLibre in the 2nd quarter valued at about $36,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Trading Up 0.3%

NASDAQ MELI opened at $1,839.72 on Tuesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10. The stock has a market capitalization of $93.27 billion, a P/E ratio of 49.88, a PEG ratio of 1.29 and a beta of 1.31. The firm's 50-day moving average is $1,863.45 and its two-hundred day moving average is $1,785.68. MercadoLibre, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,428.00.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $9.19 earnings per share for the quarter, beating analysts' consensus estimates of $8.65 by $0.54. The business had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The business's revenue for the quarter was up 49.8% on a year-over-year basis. During the same period last year, the business earned $10.31 earnings per share. On average, sell-side analysts anticipate that MercadoLibre, Inc. will post 38.09 earnings per share for the current year.

Wall Street Analyst Weigh In

MELI has been the topic of a number of research reports. Weiss Ratings reissued a "hold (c)" rating on shares of MercadoLibre in a research note on Tuesday, September 29th. BTIG Research restated a "buy" rating and issued a $2,150.00 price target on shares of MercadoLibre in a research report on Thursday, September 3rd. Susquehanna upped their price target on MercadoLibre to $2,400.00 and gave the company a "positive" rating in a research report on Tuesday, October 6th. Cantor Fitzgerald cut their price target on MercadoLibre from $2,300.00 to $2,200.00 and set an "overweight" rating for the company in a report on Monday, October 12th. Finally, JPMorgan Chase & Co. lifted their price objective on MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 11th. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $2,251.88.

MercadoLibre Company Profile

MercadoLibre, Inc is a technology company that operates an online commerce and financial services ecosystem across Latin America. Founded in 1999 by Marcos Galperin, the company initially developed an online marketplace and has expanded into a broad platform connecting buyers and sellers with businesses and consumers.

Its commerce operations include the MercadoLibre marketplace, where users can purchase and sell products across numerous categories. The company also offers supporting services such as Mercado Envíos for shipping and logistics, Mercado Ads for digital advertising, and tools for merchants to manage their online businesses.

MercadoLibre's financial technology business is centered on Mercado Pago, which provides digital payment processing, online checkout, money transfer and account services.

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