MercadoLibre, Inc. $MELI Shares Sold by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC cut its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 7.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,449 shares of the company’s stock after selling 297 shares during the period. Thoroughbred Financial Services LLC’s holdings in MercadoLibre were worth $5,855,000 at the end of the most recent reporting period.

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

MercadoLibre Trading Up 0.0%

MercadoLibre stock opened at $1,922.73 on Friday. The stock has a market cap of $97.48 billion, a PE ratio of 52.29, a P/E/G ratio of 1.32 and a beta of 1.34. The stock has a 50-day moving average price of $1,793.05 and a 200 day moving average price of $1,775.94. MercadoLibre, Inc. has a 52 week low of $1,495.00 and a 52 week high of $2,548.50. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.65 by $0.54. The company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The firm’s quarterly revenue was up 49.8% on a year-over-year basis. During the same period in the prior year, the firm earned $10.31 EPS. Equities research analysts predict that MercadoLibre, Inc. will post 39.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MELI has been the topic of a number of research reports. The Goldman Sachs Group set a $2,100.00 price objective on shares of MercadoLibre in a research note on Wednesday, May 13th. Daiwa Securities Group downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price target on the stock. in a report on Friday, May 8th. Barclays lowered their price target on shares of 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. Benchmark dropped their price objective on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Finally, Cantor Fitzgerald lifted their price objective on MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Eleven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, MercadoLibre currently has an average rating of “Moderate Buy” and an average target price of $2,272.00.

MercadoLibre 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.