The Manufacturers Life Insurance Company cut its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 4.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,170 shares of the company's stock after selling 846 shares during the period. The Manufacturers Life Insurance Company's holdings in MercadoLibre were worth $30,840,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in MELI. Interchange Capital Partners LLC increased its stake in MercadoLibre by 2.1% in the 4th quarter. Interchange Capital Partners LLC now owns 243 shares of the company's stock valued at $490,000 after buying an additional 5 shares during the last quarter. Cornerstone Select Advisors LLC boosted its stake in shares of MercadoLibre by 2.9% during the 4th quarter. Cornerstone Select Advisors LLC now owns 176 shares of the company's stock worth $355,000 after buying an additional 5 shares during the last quarter. Mitchell Capital Management Co. grew its holdings in shares of MercadoLibre by 0.4% in the 4th quarter. Mitchell Capital Management Co. now owns 1,262 shares of the company's stock valued at $2,542,000 after acquiring an additional 5 shares in the last quarter. Strategic Advisors LLC grew its holdings in shares of MercadoLibre by 0.4% in the 4th quarter. Strategic Advisors LLC now owns 1,273 shares of the company's stock valued at $2,564,000 after acquiring an additional 5 shares in the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC increased its position in shares of MercadoLibre by 2.0% in the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 259 shares of the company's stock valued at $605,000 after acquiring an additional 5 shares during the last quarter. Institutional investors own 87.62% of the company's stock.
MercadoLibre Price Performance
Shares of MELI opened at $1,930.75 on Friday. The firm has a market capitalization of $97.88 billion, a PE ratio of 52.51, a PEG ratio of 1.34 and a beta of 1.34. The company's 50-day moving average is $1,817.82 and its 200-day moving average is $1,771.00. MercadoLibre, Inc. has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,548.50. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10.
MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $9.19 EPS for the quarter, topping the consensus estimate of $8.65 by $0.54. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The business had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.79 billion. During the same quarter in the previous year, the firm posted $10.31 EPS. MercadoLibre's revenue was up 49.8% compared to the same quarter last year. Equities analysts forecast that MercadoLibre, Inc. will post 39.11 EPS for the current year.
Wall Street Analyst Weigh In
Several analysts recently issued reports on MELI shares. Scotiabank dropped their target price on MercadoLibre from $3,500.00 to $2,800.00 and set a "sector outperform" rating on the stock in a report on Thursday, May 7th. BTIG Research restated a "buy" rating and issued a $2,150.00 price target on shares of MercadoLibre in a research note on Thursday, August 6th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of MercadoLibre in a research report on Thursday, July 2nd. Raymond James Financial set a $2,000.00 price objective on MercadoLibre in a research note on Friday, May 8th. Finally, JPMorgan Chase & Co. raised their target price on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the company a "neutral" rating in a research note on Tuesday, August 11th. Eleven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, MercadoLibre currently has an average rating of "Moderate Buy" and an average price target of $2,272.00.
Check Out Our Latest Report on MELI
About MercadoLibre
(
Free Report)
MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.
Key offerings include its marketplace platform and a suite of logistics and payment services.
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