Two Sigma Advisers LP Sells 87,900 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Two Sigma Advisers LP lowered its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 95.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,800 shares of the company's stock after selling 87,900 shares during the period. Two Sigma Advisers LP's holdings in MercadoLibre were worth $6,462,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital International Investors raised its holdings in MercadoLibre by 38.7% in the 4th quarter. Capital International Investors now owns 1,687,114 shares of the company's stock valued at $2,868,869,000 after buying an additional 470,829 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of MercadoLibre by 41.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company's stock worth $2,370,848,000 after buying an additional 405,425 shares in the last quarter. Wealthfront Advisers LLC acquired a new position in shares of MercadoLibre during the fourth quarter worth about $565,306,000. Capital World Investors grew its position in shares of MercadoLibre by 24.5% during the fourth quarter. Capital World Investors now owns 1,568,602 shares of the company's stock worth $2,667,386,000 after buying an additional 308,973 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of MercadoLibre during the fourth quarter worth about $383,051,000. Hedge funds and other institutional investors own 87.62% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. upped their price target on MercadoLibre from $2,250.00 to $2,600.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. New Street Research upgraded MercadoLibre from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Bank of America upped their price target on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Cantor Fitzgerald decreased their target price on MercadoLibre from $3,000.00 to $2,400.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Finally, Benchmark lowered MercadoLibre from a "buy" rating to a "cautious" rating in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, MercadoLibre currently has an average rating of "Moderate Buy" and a consensus price target of $2,572.86.

MercadoLibre Trading Down 0.7%

NASDAQ MELI traded down $16.63 during trading hours on Thursday, hitting $2,534.09. The company's stock had a trading volume of 77,937 shares, compared to its average volume of 381,832. The stock has a fifty day moving average of $2,217.71 and a 200 day moving average of $2,030.61. MercadoLibre, Inc. has a twelve month low of $1,550.00 and a twelve month high of $2,635.88. The firm has a market capitalization of $128.47 billion, a P/E ratio of 67.10, a PEG ratio of 1.12 and a beta of 1.61. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its 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. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The firm had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.55 billion. During the same quarter in the prior year, the firm earned $6.78 earnings per share. The business's quarterly revenue was up 37.0% on a year-over-year basis. Equities research analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

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.