Vontobel Holding Ltd. Reduces Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Vontobel Holding Ltd. reduced its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 2.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 68,390 shares of the company's stock after selling 1,649 shares during the period. Vontobel Holding Ltd. owned approximately 0.13% of MercadoLibre worth $133,420,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in MELI. Park Square Financial Group LLC acquired a new stake in shares of MercadoLibre during the fourth quarter worth about $26,000. Covestor Ltd purchased a new position in MercadoLibre during the 4th quarter worth approximately $27,000. Heck Capital Advisors LLC acquired a new stake in MercadoLibre during the 4th quarter valued at approximately $32,000. VSM Wealth Advisory LLC purchased a new stake in shares of MercadoLibre in the 4th quarter valued at $37,000. Finally, E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of MercadoLibre by 375.0% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 19 shares of the company's stock valued at $37,000 after acquiring an additional 15 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.

MercadoLibre Price Performance

MercadoLibre stock traded down $112.23 during trading on Tuesday, reaching $2,501.40. The company had a trading volume of 573,385 shares, compared to its average volume of 388,254. The firm has a market capitalization of $126.82 billion, a PE ratio of 61.52, a price-to-earnings-growth ratio of 1.52 and a beta of 1.51. The firm's 50-day simple moving average is $2,443.28 and its 200 day simple moving average is $2,118.19. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.18 and a current ratio of 1.20. MercadoLibre, Inc. has a 1-year low of $1,563.21 and a 1-year high of $2,645.42.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.82 by $1.92. The business had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.55 billion. MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. The company's revenue for the quarter was up 37.0% compared to the same quarter last year. During the same quarter last year, the business earned $6.78 earnings per share. As a group, equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Cantor Fitzgerald decreased their target price on shares of MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating for the company in a research report on Wednesday, June 11th. Morgan Stanley reissued an "overweight" rating on shares of MercadoLibre in a report on Thursday, May 1st. Jefferies Financial Group restated a "hold" rating and issued a $2,800.00 target price (up previously from $2,450.00) on shares of MercadoLibre in a research note on Thursday, June 5th. JPMorgan Chase & Co. lifted their price target on MercadoLibre from $2,250.00 to $2,600.00 and gave the company a "neutral" rating in a research report on Thursday, May 22nd. Finally, Benchmark downgraded MercadoLibre from a "buy" rating to a "cautious" rating in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, MercadoLibre has an average rating of "Moderate Buy" and a consensus price target of $2,645.94.

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.