Royal London Asset Management Ltd. Sells 11,626 Shares of MercadoLibre, Inc. $MELI

Royal London Asset Management Ltd. cut its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 5.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 209,028 shares of the company’s stock after selling 11,626 shares during the quarter. MercadoLibre makes up about 0.7% of Royal London Asset Management Ltd.’s investment portfolio, making the stock its 21st largest position. Royal London Asset Management Ltd.’s holdings in MercadoLibre were worth $354,802,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Cornerstone Select Advisors LLC lifted its position in MercadoLibre by 2.9% in the 4th quarter. Cornerstone Select Advisors LLC now owns 176 shares of the company’s stock worth $355,000 after buying an additional 5 shares during the last quarter. Mitchell Capital Management Co. grew its position in MercadoLibre by 0.4% during the fourth quarter. Mitchell Capital Management Co. now owns 1,262 shares of the company’s stock valued at $2,542,000 after acquiring an additional 5 shares during the last quarter. Strategic Advisors LLC grew its position in MercadoLibre by 0.4% during the fourth quarter. Strategic Advisors LLC now owns 1,273 shares of the company’s stock valued at $2,564,000 after acquiring an additional 5 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC raised its stake in shares of MercadoLibre by 2.0% during the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 259 shares of the company’s stock worth $605,000 after acquiring an additional 5 shares in the last quarter. Finally, Beese Fulmer Investment Management Inc. lifted its holdings in shares of MercadoLibre by 2.7% in the 4th quarter. Beese Fulmer Investment Management Inc. now owns 229 shares of the company’s stock worth $461,000 after acquiring an additional 6 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MELI has been the subject of a number of research reports. Scotiabank cut their price objective on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating for the company in a research note on Thursday, May 7th. Morgan Stanley decreased their target price on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. Weiss Ratings restated a “hold (c)” rating on shares of MercadoLibre in a research report on Thursday, July 2nd. The Goldman Sachs Group set a $2,100.00 price objective on MercadoLibre in a research note on Wednesday, May 13th. 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 report on Thursday, August 6th. Eleven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,272.00.

MercadoLibre Stock Up 1.8%

Shares of NASDAQ MELI opened at $1,966.25 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.53. MercadoLibre, Inc. has a 52 week low of $1,495.00 and a 52 week high of $2,548.50. The firm’s fifty day moving average is $1,824.45 and its 200 day moving average is $1,772.36. The company has a market cap of $99.69 billion, a price-to-earnings ratio of 53.47, a PEG ratio of 1.32 and a beta of 1.34.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $9.19 EPS for the quarter, beating analysts’ consensus estimates of $8.65 by $0.54. The company had revenue of $10.17 billion during 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 revenue was up 49.8% compared to the same quarter last year. During the same period in the prior year, the business posted $10.31 EPS. On average, equities research analysts expect that MercadoLibre, Inc. will post 39.11 earnings per share for the current year.

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.