Trillium Asset Management LLC Decreases Stake in MercadoLibre, Inc. $MELI

Key Points

• Trillium Asset Management cut its MercadoLibre stake by 50.2% in the second quarter, selling 14,232 shares and retaining 14,139 shares valued at approximately $24.0 million. Institutional investors collectively own 87.62% of the company.
• Analyst sentiment remains favorable, with 11 Buy ratings and six Holds producing a consensus “Moderate Buy” rating and an average price target of $2,272.00, despite some analysts lowering targets or downgrading the stock.
• MercadoLibre reported quarterly earnings of $9.19 per share, beating estimates of $8.65, while revenue reached $10.17 billion and grew 49.8% year over year. The stock opened at $1,921.96, with a market capitalization of roughly $97.44 billion.

Trillium Asset Management LLC cut its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 50.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,139 shares of the company's stock after selling 14,232 shares during the period. Trillium Asset Management LLC's holdings in MercadoLibre were worth $24,005,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Interchange Capital Partners LLC raised its holdings in shares of MercadoLibre by 2.1% during the 4th quarter. Interchange Capital Partners LLC now owns 243 shares of the company's stock worth $490,000 after acquiring an additional 5 shares in the last quarter. Cornerstone Select Advisors LLC grew its holdings in shares of MercadoLibre by 2.9% in the fourth quarter. Cornerstone Select Advisors LLC now owns 176 shares of the company's stock valued at $355,000 after purchasing an additional 5 shares in the last quarter. Mitchell Capital Management Co. grew its holdings in shares of MercadoLibre by 0.4% in the fourth quarter. Mitchell Capital Management Co. now owns 1,262 shares of the company's stock valued at $2,542,000 after purchasing an additional 5 shares in the last quarter. Strategic Advisors LLC increased its position in MercadoLibre by 0.4% in the fourth quarter. Strategic Advisors LLC now owns 1,273 shares of the company's stock worth $2,564,000 after purchasing an additional 5 shares during the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC increased its position in MercadoLibre by 2.0% in the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 259 shares of the company's stock worth $605,000 after purchasing an additional 5 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on MELI shares. Daiwa Securities Group lowered shares of MercadoLibre from a "buy" rating to a "hold" rating and set a $1,800.00 price objective for the company. in a research report on Friday, May 8th. Cantor Fitzgerald boosted their target price on shares of MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. Morgan Stanley decreased their target price on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an "overweight" rating on the stock in a research report on Monday, May 11th. Raymond James Financial set a $2,000.00 price target on shares of MercadoLibre in a report on Friday, May 8th. Finally, UBS Group dropped their price target on MercadoLibre from $2,050.00 to $1,750.00 and set a "neutral" rating for the company in a research report on Wednesday, May 13th. Eleven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $2,272.00.

MercadoLibre Stock Up 0.7%

NASDAQ:MELI opened at $1,921.96 on Friday. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,548.50. The company has a market cap of $97.44 billion, a price-to-earnings ratio of 52.27, a price-to-earnings-growth ratio of 1.31 and a beta of 1.34. The stock has a fifty day simple moving average of $1,786.39 and a 200-day simple moving average of $1,774.91. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $8.65 by $0.54. The firm had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The business's revenue was up 49.8% on a year-over-year basis. During the same period in the previous year, the firm earned $10.31 earnings per share. Analysts anticipate that MercadoLibre, Inc. will post 39.11 EPS for the current year.

MercadoLibre Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source