Confluence Investment Management LLC cut its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 1.8% during the first quarter, Holdings Channel reports. The institutional investor owned 387 shares of the company’s stock after selling 7 shares during the quarter. Confluence Investment Management LLC’s holdings in MercadoLibre were worth $570,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. AE Wealth Management LLC boosted its position in shares of MercadoLibre by 8.3% in the fourth quarter. AE Wealth Management LLC now owns 6,805 shares of the company’s stock worth $11,400,000 after buying an additional 520 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in shares of MercadoLibre by 22.2% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 9,071 shares of the company’s stock worth $15,196,000 after buying an additional 1,650 shares during the period. AXA S.A. purchased a new stake in shares of MercadoLibre in the third quarter worth about $207,000. Pillar Pacific Capital Management LLC boosted its position in shares of MercadoLibre by 1.2% in the fourth quarter. Pillar Pacific Capital Management LLC now owns 8,230 shares of the company’s stock worth $13,787,000 after buying an additional 96 shares during the period. Finally, Teamwork Financial Advisors LLC boosted its position in shares of MercadoLibre by 8.4% in the fourth quarter. Teamwork Financial Advisors LLC now owns 6,645 shares of the company’s stock worth $11,132,000 after buying an additional 515 shares during the period. Hedge funds and other institutional investors own 80.60% of the company’s stock.
A number of analysts have recently weighed in on MELI shares. HSBC increased their price target on MercadoLibre from $1,800.00 to $2,100.00 and gave the stock a “buy” rating in a research report on Tuesday, January 19th. JPMorgan Chase & Co. increased their price target on MercadoLibre from $1,640.00 to $1,730.00 and gave the stock an “overweight” rating in a research report on Monday, March 15th. TheStreet cut MercadoLibre from a “c” rating to a “d+” rating in a research report on Monday, March 15th. Zacks Investment Research cut MercadoLibre from a “hold” rating to a “sell” rating and set a $1,865.00 price target on the stock. in a research report on Wednesday, February 24th. Finally, Wolfe Research started coverage on MercadoLibre in a research report on Wednesday, March 31st. They set an “outperform” rating and a $1,800.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $1,724.72.
Shares of NASDAQ MELI opened at $1,588.00 on Friday. The stock has a fifty day moving average price of $1,559.00 and a two-hundred day moving average price of $1,533.56. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.62 and a current ratio of 1.64. The firm has a market cap of $79.19 billion, a P/E ratio of -9,924.38 and a beta of 1.63. MercadoLibre, Inc. has a 1 year low of $517.01 and a 1 year high of $2,020.00.
MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Monday, March 1st. The company reported ($1.02) earnings per share for the quarter, missing the consensus estimate of $0.39 by ($1.41). The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.23 billion. MercadoLibre had a negative return on equity of 0.22% and a negative net margin of 0.12%. The business’s revenue was up 96.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.11) earnings per share. On average, research analysts predict that MercadoLibre, Inc. will post 1.08 earnings per share for the current fiscal year.
MercadoLibre Company Profile
MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, 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, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.
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