SlateStone Wealth LLC Sells 119 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Key Points

• SlateStone Wealth LLC reduced its holdings in MercadoLibre, Inc. by 12.1% in the latest quarter, now owning 862 shares valued at approximately $1.68 million.
• Several institutional investors increased their positions in MercadoLibre during the fourth quarter, with Capital Research Global Investors raising theirs by 8.0% to own over 2.4 million shares worth around $4.1 billion.
• MercadoLibre reported a 37.0% year-over-year revenue growth with quarterly earnings of $9.74 per share, surpassing analysts' expectations.

SlateStone Wealth LLC lowered its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 12.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 862 shares of the company's stock after selling 119 shares during the period. SlateStone Wealth LLC's holdings in MercadoLibre were worth $1,682,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MELI. Bank Pictet & Cie Europe AG acquired a new position in shares of MercadoLibre in the 4th quarter worth approximately $561,000. Vanguard Group Inc. lifted its position in shares of MercadoLibre by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 205,628 shares of the company's stock worth $349,658,000 after purchasing an additional 2,900 shares during the period. Orion Portfolio Solutions LLC lifted its position in shares of MercadoLibre by 51.7% in the 4th quarter. Orion Portfolio Solutions LLC now owns 1,232 shares of the company's stock worth $2,095,000 after purchasing an additional 420 shares during the period. RWA Wealth Partners LLC lifted its position in shares of MercadoLibre by 9.0% in the 4th quarter. RWA Wealth Partners LLC now owns 242 shares of the company's stock worth $412,000 after purchasing an additional 20 shares during the period. Finally, O Shaughnessy Asset Management LLC lifted its position in shares of MercadoLibre by 9.3% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 3,280 shares of the company's stock worth $5,577,000 after purchasing an additional 280 shares during the period. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Stock Up 0.3%

MELI stock traded up $6.33 during midday trading on Friday, reaching $2,380.22. 53,865 shares of the company's stock traded hands, compared to its average volume of 386,826. The company has a market cap of $120.68 billion, a price-to-earnings ratio of 58.62, a P/E/G ratio of 1.42 and a beta of 1.49. The firm's fifty day moving average price is $2,458.47 and its 200-day moving average price is $2,219.50. 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, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22.

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

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Morgan Stanley restated an "overweight" rating on shares of MercadoLibre in a research report on Thursday, May 1st. UBS Group set a $3,000.00 target price on shares of MercadoLibre in a research report on Monday, June 2nd. Daiwa Capital Markets assumed coverage on shares of MercadoLibre in a research report on Friday. They set a "buy" rating and a $3,000.00 target price on the stock. Scotiabank assumed coverage on shares of MercadoLibre in a research report on Monday. They set a "sector outperform" rating and a $3,500.00 target price on the stock. Finally, Wall Street Zen downgraded shares of MercadoLibre from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $2,707.50.

About MercadoLibre

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.