Wellington Management Group LLP Trims Position in MercadoLibre, Inc. $MELI

Wellington Management Group LLP cut its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 10.7% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 256,337 shares of the company’s stock after selling 30,766 shares during the period. Wellington Management Group LLP’s holdings in MercadoLibre were worth $435,104,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of research analysts have recently commented on MELI shares. UBS Group reduced their price target on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. Citigroup increased their price objective on MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Daiwa Securities Group cut MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 target price for the company. in a research report on Friday, May 8th. Morgan Stanley decreased their target price on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. Finally, Raymond James Financial set a $2,000.00 target price on MercadoLibre in a research note on Friday, May 8th. Eleven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,272.00.

MercadoLibre Price Performance

Shares of MercadoLibre stock opened at $1,966.25 on Friday. The firm has a market capitalization of $99.69 billion, a PE ratio of 53.47, a price-to-earnings-growth ratio of 1.35 and a beta of 1.34. 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, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,548.50. The business’s 50-day moving average price is $1,824.45 and its 200-day moving average price is $1,772.36.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share for the quarter, topping analysts’ consensus estimates of $8.65 by $0.54. The company had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.79 billion. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.MercadoLibre’s quarterly revenue was up 49.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $10.31 EPS. Sell-side analysts forecast that MercadoLibre, Inc. will post 39.11 EPS for the current fiscal 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.