Park Avenue Securities LLC Sells 493 Shares of MercadoLibre, Inc. $MELI

Key Points

• Park Avenue Securities LLC decreased its stake in MercadoLibre, Inc. by 24.8%, selling 493 shares, and now holds a total of 1,494 shares worth approximately $3,905,000.
• Analysts remain optimistic about MercadoLibre, with several price targets set above $2,900, including UBS Group's target of $3,000.
• MercadoLibre reported earnings of $10.31 EPS for the last quarter, missing the consensus estimate but achieving a revenue of $6.79 billion, reflecting a year-over-year increase of 33.8%.

Park Avenue Securities LLC cut its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 24.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,494 shares of the company's stock after selling 493 shares during the quarter. Park Avenue Securities LLC's holdings in MercadoLibre were worth $3,905,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MELI. Key Financial Inc bought a new stake in MercadoLibre during the 1st quarter worth about $25,000. GW&K Investment Management LLC bought a new stake in MercadoLibre during the 1st quarter worth about $25,000. Park Square Financial Group LLC bought a new stake in MercadoLibre during the 4th quarter worth about $26,000. Close Asset Management Ltd lifted its position in MercadoLibre by 366.7% during the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company's stock worth $27,000 after buying an additional 11 shares in the last quarter. Finally, Brooklyn Investment Group increased its stake in shares of MercadoLibre by 650.0% during the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company's stock worth $29,000 after purchasing an additional 13 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MELI has been the topic of several recent analyst reports. UBS Group set a $3,000.00 price objective on shares of MercadoLibre in a research note on Monday, June 2nd. Susquehanna restated a "positive" rating and set a $2,975.00 price objective (up from $2,840.00) on shares of MercadoLibre in a research note on Thursday, June 26th. JPMorgan Chase & Co. boosted their price objective on shares of MercadoLibre from $2,600.00 to $2,700.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Citigroup lowered their price objective on shares of MercadoLibre from $2,900.00 to $2,850.00 and set a "buy" rating on the stock in a research note on Monday, August 18th. Finally, Daiwa Capital Markets assumed coverage on shares of MercadoLibre in a research note on Friday, August 1st. They set a "buy" rating and a $3,000.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $2,817.22.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $2,460.66 on Tuesday. The company has a market cap of $124.76 billion, a price-to-earnings ratio of 60.77, a PEG ratio of 1.60 and a beta of 1.49. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. The firm has a 50 day simple moving average of $2,383.72 and a 200 day simple moving average of $2,323.05. MercadoLibre, Inc. has a one year low of $1,646.00 and a one year high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing the consensus estimate of $12.01 by ($1.70). The company had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. MercadoLibre's revenue for the quarter was up 33.8% on a year-over-year basis. During the same period in the previous year, the company earned $10.48 EPS. Research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

MercadoLibre 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.

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