Wasatch Advisors LP Sells 1,980 Shares of MercadoLibre, Inc. $MELI

Key Points

• Wasatch Advisors LP reduced its MercadoLibre stake by 1.6%, selling 1,980 shares and retaining 120,943 shares valued at approximately $205.3 million. MercadoLibre represents about 1.3% of the firm’s portfolio.
• Institutional investors own 87.62% of MercadoLibre’s stock, while several smaller investment firms initiated new positions during the reported periods.
• MercadoLibre exceeded quarterly expectations, reporting $9.19 in EPS and $10.17 billion in revenue; revenue rose 49.8% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $2,272.

Wasatch Advisors LP cut its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 1.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 120,943 shares of the company's stock after selling 1,980 shares during the quarter. MercadoLibre accounts for about 1.3% of Wasatch Advisors LP's investment portfolio, making the stock its 23rd largest holding. Wasatch Advisors LP owned approximately 0.24% of MercadoLibre worth $205,287,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of MELI. Laurel Wealth Advisors LLC purchased a new position in MercadoLibre in the 4th quarter worth approximately $26,000. Transamerica Financial Advisors LLC purchased a new stake in shares of MercadoLibre during the fourth quarter valued at approximately $26,000. Purpose Unlimited Inc. purchased a new stake in shares of MercadoLibre during the fourth quarter valued at approximately $28,000. Darwin Wealth Management LLC bought a new position in shares of MercadoLibre in the second quarter worth approximately $29,000. Finally, Curio Wealth LLC purchased a new position in shares of MercadoLibre in the fourth quarter worth $30,000. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Price Performance

MELI opened at $1,940.00 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,548.50. The stock has a market capitalization of $98.36 billion, a PE ratio of 52.76, a price-to-earnings-growth ratio of 1.13 and a beta of 1.34. The stock's 50 day moving average price is $1,755.07 and its 200-day moving average price is $1,792.76.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $9.19 EPS for the quarter, topping analysts' consensus estimates of $8.65 by $0.54. The company had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.79 billion. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The firm's revenue was up 49.8% on a year-over-year basis. During the same quarter last year, the firm posted $10.31 earnings per share. On average, equities research analysts predict that MercadoLibre, Inc. will post 40.56 EPS for the current year.

Insider Activity at MercadoLibre

In related news, Director Alejandro Nicolas Aguzin bought 600 shares of the company's stock in a transaction dated Friday, May 22nd. The stock was purchased at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the transaction, the director owned 5,355 shares in the company, valued at approximately $8,867,505.15. This trade represents a 12.62% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.26% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Zacks Research upgraded shares of MercadoLibre from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Weiss Ratings reissued a "hold (c)" rating on shares of MercadoLibre in a report on Thursday, July 2nd. Citigroup boosted their price objective on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the company a "neutral" rating in a research report on Wednesday, July 15th. Barclays lowered their price objective on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an "overweight" rating for the company in a research note on Monday, May 11th. Finally, BTIG Research reiterated a "buy" rating and set a $2,150.00 target price on shares of MercadoLibre in a report on Thursday, August 6th. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $2,272.00.

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.

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