MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Bellecapital International Ltd.

Bellecapital International Ltd. cut its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 1.3% during the 1st quarter, Holdings Channel reports. The firm owned 10,531 shares of the company’s stock after selling 134 shares during the period. MercadoLibre comprises approximately 4.1% of Bellecapital International Ltd.’s investment portfolio, making the stock its 6th biggest holding. Bellecapital International Ltd.’s holdings in MercadoLibre were worth $20,545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the business. Human Investing LLC acquired a new position in MercadoLibre in the 4th quarter valued at about $26,000. Park Square Financial Group LLC purchased a new stake in shares of MercadoLibre during the fourth quarter worth about $26,000. Covestor Ltd purchased a new stake in shares of MercadoLibre during the fourth quarter worth about $27,000. Heck Capital Advisors LLC acquired a new position in shares of MercadoLibre in the fourth quarter valued at approximately $32,000. Finally, Stonebridge Financial Group LLC purchased a new position in shares of MercadoLibre during the fourth quarter valued at approximately $37,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Performance

NASDAQ MELI opened at $2,387.00 on Thursday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. MercadoLibre, Inc. has a 1-year low of $1,550.00 and a 1-year high of $2,635.88. The firm has a market capitalization of $121.01 billion, a P/E ratio of 63.32, a P/E/G ratio of 1.12 and a beta of 1.51. The business’s 50-day simple moving average is $2,318.55 and its 200-day simple moving average is $2,070.71.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, beating the consensus estimate of $7.82 by $1.92. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The firm had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.55 billion. During the same quarter last year, the firm posted $6.78 earnings per share. MercadoLibre’s revenue for the quarter was up 37.0% compared to the same quarter last year. Equities analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Jefferies Financial Group reaffirmed a “hold” rating and issued a $2,800.00 target price (up from $2,450.00) on shares of MercadoLibre in a research note on Thursday, June 5th. UBS Group set a $3,000.00 price objective on MercadoLibre in a report on Monday, June 2nd. Citigroup reaffirmed a “buy” rating on shares of MercadoLibre in a research report on Friday, June 6th. Benchmark downgraded MercadoLibre from a “buy” rating to a “cautious” rating in a research report on Thursday, May 1st. Finally, The Goldman Sachs Group raised their price target on MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a “buy” rating in a research note on Wednesday, May 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,632.50.

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.