Lbp Am Sa Sells 9,735 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

LBP AM SA lowered its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 29.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,065 shares of the company's stock after selling 9,735 shares during the quarter. MercadoLibre comprises 0.7% of LBP AM SA's portfolio, making the stock its 27th largest position. LBP AM SA's holdings in MercadoLibre were worth $44,997,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Park Square Financial Group LLC acquired a new stake in MercadoLibre in the 4th quarter valued at about $26,000. Covestor Ltd acquired a new position in MercadoLibre in the 4th quarter valued at $27,000. Heck Capital Advisors LLC bought a new position in shares of MercadoLibre during the 4th quarter worth about $32,000. VSM Wealth Advisory LLC acquired a new stake in MercadoLibre in the 4th quarter valued at $37,000. Finally, E Fund Management Hong Kong Co. Ltd. increased its holdings in MercadoLibre by 375.0% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 19 shares of the company's stock valued at $37,000 after purchasing an additional 15 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Stock Down 0.6%

Shares of MercadoLibre stock traded down $14.65 on Friday, reaching $2,387.45. The company's stock had a trading volume of 341,673 shares, compared to its average volume of 388,570. MercadoLibre, Inc. has a 52 week low of $1,579.78 and a 52 week high of $2,645.22. The firm's fifty day simple moving average is $2,483.90 and its two-hundred day simple moving average is $2,153.84. The company has a market capitalization of $121.04 billion, a price-to-earnings ratio of 58.72, a P/E/G ratio of 1.47 and a beta of 1.49. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.57.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.82 by $1.92. The company had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.55 billion. MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. The firm's quarterly revenue was up 37.0% compared to the same quarter last year. During the same period in the previous year, the business posted $6.78 earnings per share. Equities analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MELI has been the subject of a number of analyst reports. Barclays boosted their price objective on shares of MercadoLibre from $2,500.00 to $3,100.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Morgan Stanley restated an "overweight" rating on shares of MercadoLibre in a research note on Thursday, May 1st. UBS Group set a $3,000.00 price objective on shares of MercadoLibre in a report on Monday, June 2nd. Benchmark downgraded shares of MercadoLibre from a "buy" rating to a "cautious" rating in a report on Thursday, May 1st. Finally, Citigroup reiterated a "buy" rating on shares of MercadoLibre in a research report on Friday, June 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, MercadoLibre presently has a consensus rating of "Moderate Buy" and a consensus target price of $2,645.94.

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.