KCS Wealth Advisory decreased its holdings in Mercadolibre Inc (NASDAQ:MELI) by 2.8% during the second quarter, HoldingsChannel.com reports. The firm owned 2,936 shares of the company’s stock after selling 84 shares during the quarter. Mercadolibre makes up about 1.4% of KCS Wealth Advisory’s holdings, making the stock its 10th biggest holding. KCS Wealth Advisory’s holdings in Mercadolibre were worth $1,796,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Millennium Management LLC bought a new position in Mercadolibre during the fourth quarter worth about $6,398,000. Calamos Advisors LLC bought a new position in Mercadolibre during the first quarter worth about $1,896,000. Mercer Global Advisors Inc. ADV bought a new position in Mercadolibre during the first quarter worth about $201,000. Virtu Financial LLC bought a new position in Mercadolibre during the first quarter worth about $3,985,000. Finally, Landsberg Bennett & Dubbaneh LLC bought a new position in Mercadolibre during the first quarter worth about $351,000. Institutional investors and hedge funds own 84.49% of the company’s stock.
MELI stock opened at $688.10 on Friday. The company has a 50 day moving average price of $630.03. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.82 and a quick ratio of 2.82. Mercadolibre Inc has a 12 month low of $257.52 and a 12 month high of $693.84. The company has a market capitalization of $29.64 billion, a price-to-earnings ratio of -839.15 and a beta of 1.76.
Mercadolibre (NASDAQ:MELI) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.03. Mercadolibre had a negative net margin of 0.74% and a negative return on equity of 1.55%. The company had revenue of $545.24 million during the quarter, compared to analyst estimates of $507.68 million. During the same period last year, the business earned ($0.25) earnings per share. Mercadolibre’s revenue was up 62.6% compared to the same quarter last year. Analysts anticipate that Mercadolibre Inc will post 1.16 EPS for the current fiscal year.
A number of equities analysts have weighed in on the stock. Piper Jaffray Companies increased their target price on shares of Mercadolibre from $584.00 to $675.00 and gave the stock an “overweight” rating in a research report on Thursday. UBS Group set a $730.00 target price on shares of Mercadolibre and gave the stock a “buy” rating in a research report on Wednesday, June 26th. BBA Icatu Securities lowered shares of Mercadolibre from an “outperform” rating to an “underperform” rating and increased their target price for the stock from $400.00 to $520.00 in a research report on Wednesday, May 8th. Barclays raised their price objective on shares of Mercadolibre from $615.00 to $730.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Finally, Susquehanna Bancshares upgraded shares of Mercadolibre from a “negative” rating to a “neutral” rating in a research report on Friday, May 3rd.
One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the stock. Mercadolibre presently has an average rating of “Buy” and a consensus price target of $592.57.
Mercadolibre Company Profile
MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, 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, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.
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