MercadoLibre, Inc. $MELI Position Trimmed by Channel Wealth LLC

Channel Wealth LLC lessened its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 47.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,854 shares of the company’s stock after selling 1,678 shares during the period. Channel Wealth LLC’s holdings in MercadoLibre were worth $3,205,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Wedbush Fund Advisers LLC purchased a new stake in MercadoLibre during the second quarter valued at approximately $29,000. Twin Lakes Capital Management LLC purchased a new position in shares of MercadoLibre in the 2nd quarter worth approximately $31,000. NBT Bank N.A. purchased a new position in shares of MercadoLibre in the 3rd quarter worth approximately $35,000. Markowski Investments purchased a new position in shares of MercadoLibre in the 2nd quarter worth approximately $36,000. Finally, Byrne Asset Management LLC purchased a new position in shares of MercadoLibre in the 3rd quarter worth approximately $40,000. 87.62% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Cantor Fitzgerald decreased their price target on MercadoLibre from $2,200.00 to $2,000.00 and set an “overweight” rating on the stock in a report on Thursday, November 5th. JPMorgan Chase & Co. lowered their price target on MercadoLibre from $2,150.00 to $1,850.00 and set a “neutral” rating for the company in a research report on Monday, November 9th. Scotiabank dropped their price objective on shares of MercadoLibre from $2,800.00 to $2,300.00 and set a “sector outperform” rating for the company in a research note on Thursday, November 5th. Citigroup upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and cut their price objective for the company from $2,100.00 to $2,050.00 in a research report on Tuesday, October 27th. Finally, BTIG Research reduced their target price on shares of MercadoLibre from $2,150.00 to $2,050.00 and set a “buy” rating on the stock in a research note on Thursday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $2,170.62.

MercadoLibre Price Performance

MercadoLibre stock opened at $1,491.49 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.17 and a quick ratio of 1.10. The stock has a market cap of $75.62 billion, a price-to-earnings ratio of 40.01, a price-to-earnings-growth ratio of 1.06 and a beta of 1.42. The firm has a 50-day moving average of $1,760.76 and a two-hundred day moving average of $1,787.78. MercadoLibre, Inc. has a 1 year low of $1,463.20 and a 1 year high of $2,342.00.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Wednesday, November 4th. The company reported $8.83 EPS for the quarter, missing analysts’ consensus estimates of $9.27 by ($0.44). MercadoLibre had a return on equity of 25.15% and a net margin of 4.91%. The company had revenue of $10.75 billion for the quarter, compared to analysts’ expectations of $10.69 billion. During the same period last year, the business posted $8.32 earnings per share. The business’s revenue was up 45.1% compared to the same quarter last year. On average, research analysts forecast that MercadoLibre, Inc. will post 37.44 earnings per share for the current year.

About MercadoLibre

MercadoLibre, Inc. operates an online commerce and financial technology platform focused on Latin America. Founded in Argentina in 1999, the company connects buyers and sellers through its marketplace, where businesses and individuals can list and purchase a wide range of products. The company’s services also include Mercado Pago, which offers digital payment and financial services for transactions on and off its marketplace. MercadoLibre supports commerce with services such as Mercado Envíos, its shipping and logistics platform, and provides advertising tools for merchants and brands.