Wellington Management Group LLP Sells 30,766 Shares of MercadoLibre, Inc. $MELI

Key Points

• Wellington Management reduced its MercadoLibre stake by 10.7%, selling 30,766 shares and retaining 256,337 shares valued at approximately $435.1 million. Institutional investors collectively own 87.62% of the company.
• Analysts maintain a generally positive outlook, with 11 Buy ratings and six Holds. MercadoLibre has a consensus rating of “Moderate Buy” and an average price target of $2,272.
• MercadoLibre’s latest quarterly results exceeded expectations, with earnings of $9.19 per share and revenue of $10.17 billion; revenue increased 49.8% year over year.

Wellington Management Group LLP cut its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 10.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 256,337 shares of the company's stock after selling 30,766 shares during the quarter. Wellington Management Group LLP owned approximately 0.51% of MercadoLibre worth $435,104,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Laurel Wealth Advisors LLC bought a new position in MercadoLibre during the fourth quarter valued at about $26,000. Transamerica Financial Advisors LLC bought a new stake in MercadoLibre in the fourth quarter worth about $26,000. Purpose Unlimited Inc. bought a new stake in MercadoLibre in the fourth quarter worth about $28,000. Wedbush Fund Advisers LLC purchased a new position in MercadoLibre in the second quarter valued at about $29,000. Finally, Darwin Wealth Management LLC purchased a new position in MercadoLibre in the second quarter valued at about $29,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on MELI. BTIG Research restated a "buy" rating and set a $2,150.00 price target on shares of MercadoLibre in a research note on Thursday, August 6th. Weiss Ratings reiterated a "hold (c)" rating on shares of MercadoLibre in a research note on Thursday, July 2nd. Raymond James Financial set a $2,000.00 price objective on MercadoLibre in a report on Friday, May 8th. Morgan Stanley decreased their target price on MercadoLibre from $2,600.00 to $2,450.00 and set an "overweight" rating for the company in a research report on Monday, May 11th. Finally, Benchmark dropped their price target on MercadoLibre from $2,780.00 to $2,380.00 and set a "buy" rating on the stock in a research report on Friday, May 8th. Eleven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $2,272.00.

MercadoLibre Stock Performance

Shares of MELI stock opened at $1,966.25 on Friday. The stock has a market capitalization of $99.69 billion, a P/E ratio of 53.47, a PEG ratio of 1.35 and a beta of 1.34. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. The firm's 50 day moving average is $1,824.45 and its 200 day moving average is $1,772.36. MercadoLibre, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,548.50.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $9.19 earnings per share for the quarter, beating analysts' consensus estimates of $8.65 by $0.54. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The business had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.79 billion. During the same period in the previous year, the business earned $10.31 EPS. MercadoLibre's revenue was up 49.8% compared to the same quarter last year. On average, sell-side analysts anticipate that MercadoLibre, Inc. will post 39.11 earnings per share for the current year.

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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