MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Headlands Technologies LLC

Key Points

• Headlands Technologies LLC significantly reduced its stake in MercadoLibre, Inc. by 59.9% in the first quarter, leaving the firm with 1,189 shares valued at approximately $2.3 million.
• During the same period, other large investors entered positions in MercadoLibre, with a reported 87.62% of its stock currently held by institutional investors and hedge funds.
• MercadoLibre reported earnings of $10.31 per share in its latest quarter, missing expectations of $12.01, despite achieving a year-over-year revenue increase of 33.8% to $6.79 billion.

Headlands Technologies LLC reduced its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 59.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,189 shares of the company's stock after selling 1,775 shares during the period. Headlands Technologies LLC's holdings in MercadoLibre were worth $2,320,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Key Financial Inc acquired a new position in shares of MercadoLibre in the 1st quarter valued at $25,000. GW&K Investment Management LLC acquired a new position in MercadoLibre during the first quarter worth $25,000. Park Square Financial Group LLC acquired a new position in MercadoLibre during the fourth quarter worth $26,000. Covestor Ltd acquired a new position in MercadoLibre during the fourth quarter worth $27,000. Finally, Close Asset Management Ltd raised its position in MercadoLibre by 366.7% during the first quarter. Close Asset Management Ltd now owns 14 shares of the company's stock worth $27,000 after acquiring an additional 11 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Price Performance

MercadoLibre stock opened at $2,317.22 on Thursday. 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 $117.48 billion, a P/E ratio of 57.23, a PEG ratio of 1.44 and a beta of 1.46. The company has a 50-day moving average price of $2,445.98 and a 200 day moving average price of $2,234.89. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.57.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released 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 46.11% and a net margin of 8.52%. The firm had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.57 billion. During the same quarter in the previous year, the business posted $10.48 earnings per share. MercadoLibre's revenue for the quarter was up 33.8% on a year-over-year basis. Sell-side analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Daiwa Capital Markets assumed coverage on shares of MercadoLibre in a research report on Friday, August 1st. They set a "buy" rating and a $3,000.00 price objective for the company. UBS Group set a $3,000.00 price objective on shares of MercadoLibre in a research report on Monday, June 2nd. Barclays reduced their price objective on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating for the company in a research report on Wednesday, July 23rd. Susquehanna restated a "positive" rating and set a $2,975.00 price objective (up from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. Finally, The Goldman Sachs Group upped their target price on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, MercadoLibre currently has an average rating of "Moderate Buy" and a consensus price target of $2,789.44.

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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