Wasatch Advisors LP Lowers Position in MercadoLibre, Inc. $MELI

Wasatch Advisors LP cut its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 120,943 shares of the company’s stock after selling 1,980 shares during the quarter. MercadoLibre comprises 1.3% of Wasatch Advisors LP’s investment portfolio, making the stock its 23rd biggest holding. Wasatch Advisors LP’s holdings in MercadoLibre were worth $205,287,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Darwin Wealth Management LLC bought a new position in MercadoLibre in the second quarter worth $29,000. Laurel Wealth Advisors LLC bought a new position in shares of MercadoLibre in the 4th quarter worth about $26,000. Transamerica Financial Advisors LLC bought a new position in shares of MercadoLibre in the 4th quarter worth about $26,000. Purpose Unlimited Inc. purchased a new position in MercadoLibre during the 4th quarter valued at about $28,000. Finally, Curio Wealth LLC purchased a new position in MercadoLibre during the 4th quarter valued at about $30,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on MELI shares. Weiss Ratings restated a “hold (c)” rating on shares of MercadoLibre in a report on Thursday, July 2nd. Cantor Fitzgerald lifted their target price on shares of MercadoLibre from $2,150.00 to $2,300.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Barclays dropped their price target on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. Daiwa Securities Group downgraded MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price target on the stock. in a research note on Friday, May 8th. Finally, Zacks Research upgraded MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $2,272.00.

Insider Buying and Selling at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin acquired 600 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was bought at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the acquisition, the director directly owned 5,355 shares in the company, valued at approximately $8,867,505.15. The trade was a 12.62% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.26% of the stock is owned by company insiders.

MercadoLibre Stock Up 6.3%

NASDAQ:MELI opened at $1,940.00 on Wednesday. The firm has a market cap of $98.36 billion, a P/E ratio of 52.76, a P/E/G ratio of 1.13 and a beta of 1.34. 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 fifty-two week low of $1,495.00 and a fifty-two week high of $2,548.50. The firm has a 50-day simple moving average of $1,755.07 and a two-hundred day simple moving average of $1,792.76.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.65 by $0.54. The business had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The business’s revenue for the quarter was up 49.8% compared to the same quarter last year. During the same period in the previous year, the company earned $10.31 earnings per share. Analysts predict that MercadoLibre, Inc. will post 40.56 earnings per share for the current fiscal 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.