Stifel Financial Corp cut its stake in shares of Mercadolibre Inc (NASDAQ:MELI) by 20.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,040 shares of the company’s stock after selling 2,069 shares during the period. Stifel Financial Corp’s holdings in Mercadolibre were worth $4,445,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Janus Henderson Group PLC raised its holdings in Mercadolibre by 6.1% in the second quarter. Janus Henderson Group PLC now owns 123,705 shares of the company’s stock worth $75,679,000 after purchasing an additional 7,149 shares during the period. Mackenzie Financial Corp raised its stake in Mercadolibre by 123.0% during the 2nd quarter. Mackenzie Financial Corp now owns 16,736 shares of the company’s stock worth $10,239,000 after buying an additional 9,230 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in Mercadolibre by 154.0% during the third quarter. Oppenheimer Asset Management Inc. now owns 4,979 shares of the company’s stock worth $2,744,000 after acquiring an additional 3,019 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in Mercadolibre by 32.8% during the second quarter. Janney Montgomery Scott LLC now owns 2,693 shares of the company’s stock worth $1,648,000 after acquiring an additional 665 shares in the last quarter. Finally, Asahi Life Asset Management CO. LTD. acquired a new position in Mercadolibre in the second quarter valued at about $327,000. Institutional investors and hedge funds own 81.16% of the company’s stock.
Several equities research analysts have issued reports on MELI shares. Barclays lowered their price target on Mercadolibre from $700.00 to $660.00 and set an “overweight” rating for the company in a report on Friday, November 1st. UBS Group cut their price objective on Mercadolibre from $730.00 to $670.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Deutsche Bank reiterated a “buy” rating and issued a $670.00 price objective (up from $653.00) on shares of Mercadolibre in a research report on Wednesday. ValuEngine cut Mercadolibre from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, BTIG Research upgraded shares of Mercadolibre from a “neutral” rating to a “buy” rating and set a $720.00 target price on the stock in a report on Monday, September 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $654.13.
MELI stock opened at $583.00 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.73 and a quick ratio of 2.72. The stock has a market capitalization of $28.98 billion, a P/E ratio of -710.98 and a beta of 1.63. Mercadolibre Inc has a fifty-two week low of $257.52 and a fifty-two week high of $698.98. The business has a 50-day moving average of $541.72 and a 200-day moving average of $584.96.
Mercadolibre (NASDAQ:MELI) last announced its earnings results on Thursday, October 31st. The company reported ($2.96) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($2.97). The firm had revenue of $603.03 million during the quarter, compared to analyst estimates of $588.23 million. Mercadolibre had a negative net margin of 5.87% and a negative return on equity of 1.29%. The firm’s quarterly revenue was up 69.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.23) EPS. Equities analysts expect that Mercadolibre Inc will post -1.15 EPS for the current year.
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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