MercadoLibre, Inc. $MELI Stock Position Lessened by Acima Private Wealth LLC

Key Points

• Acima Private Wealth LLC reduced its stake in MercadoLibre by 16.3%, owning 740 shares valued at approximately $1.93 million after selling 144 shares in the second quarter.
• Despite the decrease in some holdings, institutional investors collectively own about 87.62% of MercadoLibre's stock, indicating strong institutional interest.
• MercadoLibre reported Q2 earnings of $10.31 EPS, missing expectations of $12.01, but its revenue grew by 33.8% year-over-year, reaching $6.79 billion.

Acima Private Wealth LLC decreased its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 16.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 740 shares of the company's stock after selling 144 shares during the quarter. Acima Private Wealth LLC's holdings in MercadoLibre were worth $1,934,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Key Financial Inc bought a new position in shares of MercadoLibre in the first quarter worth $25,000. GW&K Investment Management LLC bought a new position in shares of MercadoLibre in the first quarter worth $25,000. Close Asset Management Ltd grew its stake in shares of MercadoLibre by 366.7% in the first quarter. Close Asset Management Ltd now owns 14 shares of the company's stock worth $27,000 after purchasing an additional 11 shares in the last quarter. Highline Wealth Partners LLC grew its stake in shares of MercadoLibre by 366.7% in the second quarter. Highline Wealth Partners LLC now owns 14 shares of the company's stock worth $37,000 after purchasing an additional 11 shares in the last quarter. Finally, Brooklyn Investment Group boosted its stake in MercadoLibre by 650.0% during the first quarter. Brooklyn Investment Group now owns 15 shares of the company's stock valued at $29,000 after buying an additional 13 shares in the last quarter. Institutional investors own 87.62% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Weiss Ratings reaffirmed a "buy (b)" rating on shares of MercadoLibre in a research note on Wednesday. Citigroup decreased their target price on MercadoLibre from $2,850.00 to $2,700.00 and set a "buy" rating for the company in a research note on Thursday. Raymond James Financial reaffirmed a "strong-buy" rating and set a $2,750.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. Jefferies Financial Group reaffirmed a "hold" rating and set a $2,800.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. Finally, Susquehanna reaffirmed a "positive" rating and set a $2,975.00 target price (up previously from $2,840.00) on shares of MercadoLibre in a research note on Thursday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $2,815.29.

MercadoLibre Trading Down 6.2%

Shares of NASDAQ MELI opened at $2,133.67 on Friday. The business has a fifty day simple moving average of $2,363.50 and a 200-day simple moving average of $2,344.22. The company has a market cap of $108.18 billion, a price-to-earnings ratio of 52.70, a P/E/G ratio of 1.52 and a beta of 1.46. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22.

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). The business had revenue of $6.79 billion during the quarter, compared to analysts' expectations of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The firm's revenue was up 33.8% on a year-over-year basis. During the same period in the prior year, the company posted $10.48 earnings per share. Sell-side analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current year.

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.

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