Rational Advisors Inc. reduced its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 57.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 750 shares of the company's stock after selling 1,000 shares during the quarter. Rational Advisors Inc.'s holdings in MercadoLibre were worth $1,463,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the stock. Bank Pictet & Cie Europe AG acquired a new stake in shares of MercadoLibre during the 4th quarter worth approximately $561,000. Independent Advisor Alliance lifted its stake in shares of MercadoLibre by 12.3% in the 4th quarter. Independent Advisor Alliance now owns 776 shares of the company's stock valued at $1,319,000 after purchasing an additional 85 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in shares of MercadoLibre by 7.6% during the 4th quarter. Sequoia Financial Advisors LLC now owns 1,605 shares of the company's stock worth $2,729,000 after purchasing an additional 114 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in MercadoLibre by 123.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 145 shares of the company's stock valued at $247,000 after buying an additional 80 shares during the period. Finally, Achmea Investment Management B.V. lifted its position in MercadoLibre by 1.4% in the fourth quarter. Achmea Investment Management B.V. now owns 3,623 shares of the company's stock valued at $6,160,000 after buying an additional 51 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.
Analyst Ratings Changes
A number of brokerages have issued reports on MELI. Citigroup reissued a "buy" rating on shares of MercadoLibre in a research report on Friday, June 6th. Barclays raised their price objective on shares of MercadoLibre from $2,500.00 to $3,100.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. The Goldman Sachs Group boosted their target price on MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Cantor Fitzgerald decreased their price objective on shares of MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating for the company in a research note on Wednesday, June 11th. Finally, Benchmark lowered shares of MercadoLibre from a "buy" rating to a "cautious" rating in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, MercadoLibre has an average rating of "Moderate Buy" and an average target price of $2,645.94.
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MercadoLibre Trading Down 0.6%
MercadoLibre stock opened at $2,387.45 on Friday. The firm has a 50-day moving average price of $2,486.03 and a two-hundred day moving average price of $2,158.29. The firm has a market capitalization of $121.04 billion, a price-to-earnings ratio of 58.72, a PEG ratio of 1.43 and a beta of 1.49. 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 $1,579.78 and a 52-week high of $2,645.22.
MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.82 by $1.92. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. The company had revenue of $5.94 billion for the quarter, compared to analysts' expectations of $5.55 billion. During the same period last year, the firm earned $6.78 EPS. The firm's revenue for the quarter was up 37.0% on a year-over-year basis. Sell-side analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.
About MercadoLibre
(
Free Report)
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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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
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