MercadoLibre, Inc. $MELI Shares Sold by State of Wyoming

State of Wyoming cut its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 85.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 207 shares of the company’s stock after selling 1,225 shares during the period. State of Wyoming’s holdings in MercadoLibre were worth $358,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. BlackRock Inc. bought a new position in MercadoLibre in the second quarter worth $2,246,015,000. Janus Henderson Group PLC boosted its stake in MercadoLibre by 1.7% during the first quarter. Janus Henderson Group PLC now owns 614,238 shares of the company’s stock worth $1,062,019,000 after buying an additional 10,142 shares in the last quarter. Linonia Partnership LP increased its holdings in MercadoLibre by 325.1% in the 2nd quarter. Linonia Partnership LP now owns 553,788 shares of the company’s stock valued at $939,994,000 after buying an additional 423,527 shares during the period. Jupiter Topco LLC bought a new stake in MercadoLibre in the 2nd quarter valued at $917,123,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in MercadoLibre by 7.9% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 533,816 shares of the company’s stock valued at $906,094,000 after buying an additional 38,871 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MELI has been the subject of a number of analyst reports. Cantor Fitzgerald reduced their price objective on shares of MercadoLibre from $2,300.00 to $2,200.00 and set an “overweight” rating for the company in a report on Monday, October 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of MercadoLibre in a research report on Tuesday, September 29th. Zacks Research raised shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. JPMorgan Chase & Co. increased their price target on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. Finally, Susquehanna increased their price target on shares of MercadoLibre to $2,400.00 and gave the stock a “positive” rating in a research report on Tuesday, October 6th. Thirteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $2,248.75.

Key Headlines Impacting MercadoLibre

Here are the key news stories impacting MercadoLibre this week:

• Positive Sentiment: Revenue and financial income rose 45% year over year to $10.75 billion, topping analyst expectations; Brazil was the strongest-growth market. Q3 results
• Negative Sentiment: EPS of $8.83 missed analyst estimates. Operating income was $676 million, with a 6.3% margin that eased sequentially as MercadoLibre invested in fulfillment capacity and absorbed higher logistics costs. Reuters report
• Negative Sentiment: Spending on shipping, marketing and credit contributed to further margin pressure. Currency-neutral revenue growth also slowed for a fourth consecutive quarter, raising concerns that rapid sales growth may not translate into profit growth as quickly as investors had hoped. Earnings reaction

MercadoLibre Stock Up 4.7%

Shares of NASDAQ:MELI opened at $1,739.88 on Thursday. MercadoLibre, Inc. has a 52 week low of $1,495.00 and a 52 week high of $2,342.00. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12. The company’s fifty day moving average is $1,824.83 and its 200-day moving average is $1,809.90. The company has a market capitalization of $88.21 billion, a PE ratio of 47.32, a P/E/G ratio of 1.17 and a beta of 1.42.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Wednesday, November 4th. The company reported $8.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.27 by ($0.44). MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%. The firm had revenue of $10.75 billion for the quarter, compared to analyst estimates of $10.69 billion. During the same quarter last year, the business earned $8.32 EPS. The company’s revenue for the quarter was up 45.1% compared to the same quarter last year. Equities research analysts predict that MercadoLibre, Inc. will post 38.09 earnings per share for the current fiscal year.

MercadoLibre Company Profile

MercadoLibre, Inc is a technology company that operates an online commerce and financial services ecosystem across Latin America. Founded in 1999 by Marcos Galperin, the company initially developed an online marketplace and has expanded into a broad platform connecting buyers and sellers with businesses and consumers.

Its commerce operations include the MercadoLibre marketplace, where users can purchase and sell products across numerous categories. The company also offers supporting services such as Mercado Envíos for shipping and logistics, Mercado Ads for digital advertising, and tools for merchants to manage their online businesses.

MercadoLibre’s financial technology business is centered on Mercado Pago, which provides digital payment processing, online checkout, money transfer and account services.