MercadoLibre, Inc. (NASDAQ:MELI) Position Trimmed by Nvwm LLC

Key Points

• Nvwm LLC reduced its stake in MercadoLibre, Inc. by 19.9%, owning 911 shares worth approximately $1.78 million after the sale.
• MercadoLibre's latest earnings report showed a significant increase in revenue, with $5.94 billion for the quarter, surpassing analysts' expectations.
• Analysts have varied ratings for MercadoLibre, with target prices ranging from $2,250 to $3,000, reflecting mixed sentiments about the stock's performance.

Nvwm LLC reduced its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 19.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 911 shares of the company's stock after selling 226 shares during the period. Nvwm LLC's holdings in MercadoLibre were worth $1,777,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Key Financial Inc bought a new position in shares of MercadoLibre during the first quarter worth about $25,000. GW&K Investment Management LLC bought a new position in MercadoLibre in the first quarter worth about $25,000. Park Square Financial Group LLC bought a new position in MercadoLibre in the fourth quarter worth about $26,000. Covestor Ltd bought a new position in MercadoLibre in the fourth quarter worth about $27,000. Finally, Close Asset Management Ltd lifted its holdings in MercadoLibre by 366.7% in 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 last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MELI has been the topic of a number of recent research reports. Scotiabank initiated coverage on shares of MercadoLibre in a report on Monday. They issued a "sector outperform" rating and a $3,500.00 target price on the stock. Barclays cut their target price on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. Benchmark cut shares of MercadoLibre from a "buy" rating to a "cautious" rating in a report on Thursday, May 1st. The Goldman Sachs Group raised 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. Finally, Susquehanna reissued a "positive" rating and issued a $2,975.00 target price (up previously from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $2,690.29.

MercadoLibre Price Performance

Shares of NASDAQ MELI traded up $4.99 during mid-day trading on Wednesday, reaching $2,389.89. 70,129 shares of the company traded hands, compared to its average volume of 389,205. MercadoLibre, Inc. has a fifty-two week low of $1,579.78 and a fifty-two week high of $2,645.22. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.20 and a quick ratio of 1.18. The firm has a market cap of $121.16 billion, a PE ratio of 58.88, a price-to-earnings-growth ratio of 1.40 and a beta of 1.49. The stock has a fifty day simple moving average of $2,467.53 and a 200-day simple moving average of $2,213.97.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $5.55 billion. During the same quarter last year, the business earned $6.78 earnings per share. The business's revenue for the quarter was up 37.0% on a year-over-year basis. Equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

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.