Lbp Am Sa Decreases Stake in MercadoLibre, Inc. (NASDAQ:MELI)

LBP AM SA decreased its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 29.7% during the 1st quarter, according to the company in 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 accounts for about 0.7% of LBP AM SA's holdings, making the stock its 27th biggest holding. LBP AM SA's holdings in MercadoLibre were worth $44,997,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. raised its stake in shares of MercadoLibre by 2.5% during the 4th quarter. 1620 Investment Advisors Inc. now owns 203 shares of the company's stock worth $346,000 after buying an additional 5 shares during the last quarter. Texas Yale Capital Corp. raised its stake in shares of MercadoLibre by 0.3% during the 4th quarter. Texas Yale Capital Corp. now owns 1,634 shares of the company's stock worth $2,779,000 after buying an additional 5 shares during the last quarter. Meiji Yasuda Life Insurance Co raised its stake in shares of MercadoLibre by 0.5% during the 4th quarter. Meiji Yasuda Life Insurance Co now owns 999 shares of the company's stock worth $1,699,000 after buying an additional 5 shares during the last quarter. Formidable Asset Management LLC raised its stake in shares of MercadoLibre by 3.2% during the 4th quarter. Formidable Asset Management LLC now owns 160 shares of the company's stock worth $272,000 after buying an additional 5 shares during the last quarter. Finally, Revolve Wealth Partners LLC raised its stake in shares of MercadoLibre by 4.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 118 shares of the company's stock worth $201,000 after buying an additional 5 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Trading Down 3.0%

MELI traded down $74.98 during midday trading on Thursday, hitting $2,402.10. The company's stock had a trading volume of 472,346 shares, compared to its average volume of 388,757. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.57. The firm has a market cap of $121.79 billion, a P/E ratio of 59.08, a PEG ratio of 1.47 and a beta of 1.49. The firm has a 50-day moving average price of $2,483.90 and a two-hundred day moving average price of $2,153.84. MercadoLibre, Inc. has a 52-week low of $1,579.78 and a 52-week high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 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 analysts' expectations of $5.55 billion. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. The firm's revenue was up 37.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.78 EPS. On average, research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. The Goldman Sachs Group lifted their price target on MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Benchmark downgraded MercadoLibre from a "buy" rating to a "cautious" rating in a research note on Thursday, May 1st. Wall Street Zen downgraded shares of MercadoLibre from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Morgan Stanley reissued an "overweight" rating on shares of MercadoLibre in a research note on Thursday, May 1st. Finally, Barclays boosted their target price on shares of MercadoLibre from $2,500.00 to $3,100.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, MercadoLibre currently has an average 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.