USS Investment Management Ltd Sells 5,374 Shares of MercadoLibre, Inc. $MELI

Key Points

• USS Investment Management Ltd reduced its stake in MercadoLibre, Inc. by 23.4%, selling 5,374 shares, and now owns 17,581 shares valued at approximately $34.3 million.
• MercadoLibre recently reported earnings, with an EPS of $10.31, falling short of analysts' expectations of $12.01, despite a revenue increase of 33.8% year-over-year.
• Brokerages have varied price targets for MercadoLibre, ranging from a low of $2,700 to a high of $3,500, with a consensus rating of "Moderate Buy."

USS Investment Management Ltd decreased its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 23.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,581 shares of the company's stock after selling 5,374 shares during the period. USS Investment Management Ltd's holdings in MercadoLibre were worth $34,302,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Banco Santander S.A. raised its stake in shares of MercadoLibre by 221.9% during the first quarter. Banco Santander S.A. now owns 2,746 shares of the company's stock valued at $5,357,000 after acquiring an additional 1,893 shares during the last quarter. Prospect Financial Services LLC raised its stake in shares of MercadoLibre by 41.7% during the first quarter. Prospect Financial Services LLC now owns 340 shares of the company's stock valued at $663,000 after acquiring an additional 100 shares during the last quarter. Stratos Investment Management LLC bought a new position in shares of MercadoLibre during the first quarter valued at $203,000. JARISLOWSKY FRASER Ltd raised its stake in shares of MercadoLibre by 43.6% during the fourth quarter. JARISLOWSKY FRASER Ltd now owns 3,249 shares of the company's stock valued at $5,525,000 after acquiring an additional 987 shares during the last quarter. Finally, Avant Financial Advisors LLC bought a new position in shares of MercadoLibre during the fourth quarter valued at $316,000. Institutional investors own 87.62% of the company's stock.

MercadoLibre Stock Down 0.5%

Shares of NASDAQ MELI traded down $10.79 during mid-day trading on Thursday, reaching $2,338.20. 330,897 shares of the company's stock traded hands, compared to its average volume of 389,439. The stock has a market cap of $118.55 billion, a P/E ratio of 57.75, a PEG ratio of 1.54 and a beta of 1.49. The business has a 50-day simple moving average of $2,391.71 and a 200 day simple moving average of $2,304.11. MercadoLibre, Inc. has a 1-year low of $1,646.00 and a 1-year high of $2,645.22. 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 (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $12.01 by ($1.70). The business had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The firm's quarterly revenue was up 33.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $10.48 earnings per share. On average, analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MELI shares. Daiwa Capital Markets started coverage on shares of MercadoLibre in a research note on Friday, August 1st. They set a "buy" rating and a $3,000.00 price target for the company. Wedbush set a $2,700.00 price target on shares of MercadoLibre and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Citigroup dropped their price target on shares of MercadoLibre from $2,900.00 to $2,850.00 and set a "buy" rating for the company in a research note on Monday, August 18th. Wall Street Zen cut shares of MercadoLibre from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $2,700.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $2,817.22.

MercadoLibre Company 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.