Wellington Management Group LLP Has $593.98 Million Position in MercadoLibre, Inc. $MELI

Key Points

• Wellington Management Group LLP has reduced its stake in MercadoLibre, Inc. by 20.1%, now holding 304,471 shares worth approximately $593.98 million.
• MercadoLibre reported a quarterly EPS of $10.31, missing expectations, with revenues of $6.79 billion showing a 33.8% increase year-over-year.
• Analysts have set varying price targets for MercadoLibre, with Scotiabank at $3,500 and UBS at $3,000, while it currently holds an average rating of “Moderate Buy.”

Wellington Management Group LLP reduced its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 20.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 304,471 shares of the company's stock after selling 76,485 shares during the period. Wellington Management Group LLP owned about 0.60% of MercadoLibre worth $593,983,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in MELI. Key Financial Inc acquired a new position in MercadoLibre in the first quarter valued at about $25,000. GW&K Investment Management LLC acquired a new position in MercadoLibre in the first quarter valued at about $25,000. Close Asset Management Ltd boosted its position in MercadoLibre by 366.7% in the first quarter. Close Asset Management Ltd now owns 14 shares of the company's stock valued at $27,000 after buying an additional 11 shares in the last quarter. Park Square Financial Group LLC acquired a new position in MercadoLibre in the fourth quarter valued at about $26,000. Finally, Brooklyn Investment Group boosted its position in MercadoLibre by 650.0% in the first quarter. Brooklyn Investment Group now owns 15 shares of the company's stock valued at $29,000 after buying an additional 13 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Stock Down 1.2%

NASDAQ:MELI opened at $2,364.01 on Tuesday. The firm's 50 day simple moving average is $2,412.88 and its 200 day simple moving average is $2,266.66. 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, Inc. has a one year low of $1,646.00 and a one year high of $2,645.22. The company has a market cap of $119.86 billion, a PE ratio of 58.39, a P/E/G ratio of 1.52 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing the consensus estimate of $12.01 by ($1.70). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%. The business had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.57 billion. During the same quarter in the prior year, the business earned $10.48 earnings per share. The firm's quarterly revenue was up 33.8% on a year-over-year basis. On average, research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on MELI shares. Scotiabank started coverage on shares of MercadoLibre in a research report on Monday, July 28th. They issued a "sector outperform" rating and a $3,500.00 price target on the stock. UBS Group set a $3,000.00 target price on shares of MercadoLibre in a research note on Monday, June 2nd. Citigroup dropped their target price 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. Jefferies Financial Group reaffirmed a "hold" rating and issued a $2,800.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. Finally, Wall Street Zen downgraded shares of MercadoLibre from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, MercadoLibre presently has an average rating of "Moderate Buy" and an average price target of $2,817.22.

MercadoLibre 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.

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