MercadoLibre, Inc. $MELI Stock Holdings Decreased by Rafferty Asset Management LLC

Key Points

• Rafferty Asset Management LLC reduced its stake in MercadoLibre, Inc. by 18.9%, selling 1,411 shares during the first quarter, bringing their total holdings to 6,060 shares worth approximately $11.8 million.
• Analysts have mixed ratings for MercadoLibre, with an average price target of $2,817.22 and a consensus rating leaning towards a "Moderate Buy".
• MercadoLibre reported earnings of $10.31 per share in its latest quarter, missing expectations but showing a 33.8% increase in revenue compared to the previous year.

Rafferty Asset Management LLC trimmed its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 18.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,060 shares of the company's stock after selling 1,411 shares during the period. Rafferty Asset Management LLC's holdings in MercadoLibre were worth $11,822,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MELI. Meiji Yasuda Life Insurance Co grew its holdings in 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 acquiring an additional 5 shares in the last quarter. Formidable Asset Management LLC grew its holdings in 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 acquiring an additional 5 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings in 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 acquiring an additional 5 shares in the last quarter. Sonora Investment Management Group LLC grew its holdings in MercadoLibre by 3.1% during the 1st quarter. Sonora Investment Management Group LLC now owns 168 shares of the company's stock worth $328,000 after acquiring an additional 5 shares in the last quarter. Finally, Beacon Capital Management LLC grew its holdings in MercadoLibre by 8.3% during the 1st quarter. Beacon Capital Management LLC now owns 65 shares of the company's stock worth $127,000 after acquiring an additional 5 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Price Performance

Shares of MELI stock traded up $0.62 during midday trading on Friday, reaching $2,472.91. 292,481 shares of the company were exchanged, compared to its average volume of 390,755. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. The company's 50 day moving average price is $2,413.70 and its two-hundred day moving average price is $2,290.26. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22. The company has a market cap of $125.38 billion, a P/E ratio of 61.07, a PEG ratio of 1.61 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing analysts' consensus estimates of $12.01 by ($1.70). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The business had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.57 billion. During the same quarter in the previous year, the firm earned $10.48 earnings per share. The firm's revenue for the quarter was up 33.8% compared to the same quarter last year. On average, sell-side analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Citigroup decreased their price objective on shares of MercadoLibre from $2,900.00 to $2,850.00 and set a "buy" rating for the company in a report on Monday, August 18th. Susquehanna reaffirmed a "positive" rating and issued a $2,975.00 price target (up from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. Wall Street Zen lowered shares of MercadoLibre from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. Wedbush set a $2,700.00 price target on shares of MercadoLibre and gave the company an "outperform" rating in a report on Tuesday, August 5th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $2,750.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $2,817.22.

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.