Azimuth Capital Investment Management LLC Has $8.89 Million Holdings in MercadoLibre, Inc. $MELI

Key Points

• Azimuth Capital Investment Management LLC reduced its stake in MercadoLibre by 17.0%, holding 4,558 shares worth approximately $8.89 million after selling 933 shares in the first quarter.
• The company reported earnings of $10.31 per share, missing estimates, but had a revenue increase of 33.8% year-over-year, reaching $6.79 billion in the latest quarter.
• MercadoLibre's stock has an average price target of $2,795.00, with analysts generally rating it as a "Moderate Buy" based on recent reports from several investment firms.

Azimuth Capital Investment Management LLC decreased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 17.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,558 shares of the company's stock after selling 933 shares during the quarter. Azimuth Capital Investment Management LLC's holdings in MercadoLibre were worth $8,892,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Key Financial Inc acquired a new position in MercadoLibre during the first quarter valued at approximately $25,000. GW&K Investment Management LLC acquired a new position in MercadoLibre during the first quarter valued at approximately $25,000. Close Asset Management Ltd grew its holdings in MercadoLibre by 366.7% during the first quarter. Close Asset Management Ltd now owns 14 shares of the company's stock valued at $27,000 after purchasing an additional 11 shares during the period. Park Square Financial Group LLC acquired a new position in MercadoLibre during the fourth quarter valued at approximately $26,000. Finally, Heck Capital Advisors LLC acquired a new position in MercadoLibre during the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 87.62% of the company's stock.

Analyst Upgrades and Downgrades

MELI has been the subject of a number of analyst reports. Benchmark restated a "buy" rating and set a $2,875.00 price objective on shares of MercadoLibre in a report on Tuesday, August 5th. JPMorgan Chase & Co. boosted their price objective on shares of MercadoLibre from $2,600.00 to $2,700.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Daiwa Capital Markets initiated coverage on shares of MercadoLibre in a report on Friday, August 1st. They set a "buy" rating and a $3,000.00 price objective for the company. Wedbush set a $2,700.00 price objective on shares of MercadoLibre and gave the company an "outperform" rating in a report on Tuesday, August 5th. Finally, Jefferies Financial Group reiterated a "hold" rating and issued a $2,800.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, MercadoLibre has an average rating of "Moderate Buy" and an average target price of $2,795.00.

MercadoLibre Stock Performance

Shares of MELI traded up $72.50 during trading hours on Friday, hitting $2,392.30. The company had a trading volume of 411,196 shares, compared to its average volume of 363,335. The firm has a market cap of $121.29 billion, a price-to-earnings ratio of 59.08, a PEG ratio of 1.52 and a beta of 1.46. The business has a fifty day moving average of $2,414.57 and a 200-day moving average of $2,263.57. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22. 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 (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings data 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). The company had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. MercadoLibre's revenue for the quarter was up 33.8% compared to the same quarter last year. During the same period in the previous year, the company earned $10.48 earnings per share. Equities analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS 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.