Sava Infond d.o.o. Sells 335 Shares of MercadoLibre, Inc. $MELI

Key Points

• Sava Infond d.o.o. reduced its stake in MercadoLibre, Inc. by 6.8%, now holding 4,605 shares valued at approximately $12 million.
• Recent analyst ratings have varied, with Scotiabank assigning a "sector outperform" rating and a price target of $3,500, while Barclays lowered their target from $3,100 to $3,000.
• MercadoLibre's recent earnings report showed a missed EPS estimate ($10.31 vs. $12.01) but revenue exceeded expectations at $6.79 billion, representing a year-over-year growth of 33.8%.

Sava Infond d.o.o. trimmed its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 6.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,605 shares of the company's stock after selling 335 shares during the quarter. MercadoLibre accounts for 1.9% of Sava Infond d.o.o.'s portfolio, making the stock its 13th largest position. Sava Infond d.o.o.'s holdings in MercadoLibre were worth $12,036,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MELI. Hudson Valley Investment Advisors Inc. ADV bought a new stake in MercadoLibre in the 2nd quarter valued at $5,089,000. NTV Asset Management LLC bought a new stake in MercadoLibre in the 2nd quarter valued at $261,000. 111 Capital bought a new stake in MercadoLibre in the 2nd quarter valued at $1,085,000. Impact Investors Inc lifted its position in MercadoLibre by 8.9% in the 2nd quarter. Impact Investors Inc now owns 147 shares of the company's stock valued at $383,000 after acquiring an additional 12 shares in the last quarter. Finally, Matthews International Capital Management LLC lifted its position in MercadoLibre by 13.7% in the 2nd quarter. Matthews International Capital Management LLC now owns 1,681 shares of the company's stock valued at $4,394,000 after acquiring an additional 202 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Scotiabank assumed coverage on shares of MercadoLibre in a research report on Monday, July 28th. They issued a "sector outperform" rating and a $3,500.00 price objective on the stock. Barclays cut their price objective on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 23rd. Wall Street Zen cut shares of MercadoLibre from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. Jefferies Financial Group reaffirmed a "hold" rating and issued a $2,800.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 5th. Finally, Wedbush set a $2,700.00 price objective on shares of MercadoLibre and gave the company an "outperform" rating in a research report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $2,822.78.

MercadoLibre Trading Down 3.3%

Shares of NASDAQ:MELI opened at $2,172.75 on Friday. The company's 50-day moving average price is $2,382.29 and its two-hundred day moving average price is $2,341.63. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. MercadoLibre, Inc. has a one year low of $1,646.00 and a one year high of $2,645.22. The stock has a market capitalization of $110.16 billion, a PE ratio of 53.66, a price-to-earnings-growth ratio of 1.49 and a beta of 1.46.

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

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