MercadoLibre, Inc. $MELI Holdings Decreased by Voleon Capital Management LP

Key Points

• Voleon Capital Management LP has reduced its stake in MercadoLibre, Inc. by 56.8%, selling 1,386 shares and owning now 1,052 shares valued at approximately $2,052,000.
• MercadoLibre reported a missed earnings per share estimate for the last quarter, with $10.31 versus the expected $12.01, despite achieving a revenue increase of 33.8% year-over-year.
• Institutional investors dominate the ownership of MercadoLibre, holding 87.62% of the company's stock, indicating strong institutional interest in the firm.

Voleon Capital Management LP decreased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 56.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,052 shares of the company's stock after selling 1,386 shares during the quarter. Voleon Capital Management LP's holdings in MercadoLibre were worth $2,052,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MELI. Bank Pictet & Cie Europe AG bought a new stake in MercadoLibre during the 4th quarter valued at $561,000. Bison Wealth LLC bought a new position in shares of MercadoLibre in the fourth quarter worth $206,000. Cetera Investment Advisers raised its holdings in shares of MercadoLibre by 4.0% during the 4th quarter. Cetera Investment Advisers now owns 5,476 shares of the company's stock valued at $9,311,000 after buying an additional 213 shares in the last quarter. Ethic Inc. raised its position in MercadoLibre by 9.2% in the 4th quarter. Ethic Inc. now owns 916 shares of the company's stock worth $1,558,000 after purchasing an additional 77 shares during the period. Finally, Focus Partners Wealth raised its holdings in MercadoLibre by 25.1% during the 4th quarter. Focus Partners Wealth now owns 424 shares of the company's stock valued at $721,000 after buying an additional 85 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Wall Street Zen cut MercadoLibre from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. Cantor Fitzgerald reiterated an "overweight" rating and issued a $2,700.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Raymond James Financial restated a "strong-buy" rating and set a $2,750.00 price target on shares of MercadoLibre in a research note on Tuesday, August 5th. Citigroup decreased 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 report on Monday, August 18th. Finally, The Goldman Sachs Group upped their price objective on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $2,817.22.

MercadoLibre Price Performance

Shares of MELI traded down $10.79 during mid-day trading on Thursday, hitting $2,338.20. The company's stock had a trading volume of 331,013 shares, compared to its average volume of 330,152. The firm has a market capitalization of $118.54 billion, a P/E ratio of 57.75, a P/E/G ratio of 1.53 and a beta of 1.49. MercadoLibre, Inc. has a 1-year low of $1,646.00 and a 1-year high of $2,645.22. The firm has a 50-day simple moving average of $2,391.71 and a 200 day simple moving average of $2,304.11. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings results 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 company 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%. MercadoLibre's revenue was up 33.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $10.48 earnings per share. Analysts predict 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.