Silvercrest Asset Management Group LLC lessened its position in shares of Mercadolibre Inc (NASDAQ:MELI) by 14.6% during the second quarter, HoldingsChannel reports. The institutional investor owned 10,465 shares of the company’s stock after selling 1,784 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in Mercadolibre were worth $6,402,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in MELI. FMR LLC grew its stake in Mercadolibre by 24.8% during the 1st quarter. FMR LLC now owns 1,270,693 shares of the company’s stock worth $645,170,000 after buying an additional 252,698 shares during the last quarter. William Blair Investment Management LLC purchased a new position in Mercadolibre during the 2nd quarter worth approximately $64,328,000. Jennison Associates LLC grew its stake in Mercadolibre by 29.8% during the 1st quarter. Jennison Associates LLC now owns 429,092 shares of the company’s stock worth $217,863,000 after buying an additional 98,432 shares during the last quarter. OppenheimerFunds Inc. grew its stake in Mercadolibre by 9.1% during the 1st quarter. OppenheimerFunds Inc. now owns 1,099,806 shares of the company’s stock worth $558,403,000 after buying an additional 91,900 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in Mercadolibre by 52.0% during the 2nd quarter. Vanguard Group Inc. now owns 212,363 shares of the company’s stock worth $129,917,000 after buying an additional 72,669 shares during the last quarter. Hedge funds and other institutional investors own 81.48% of the company’s stock.
A number of research analysts recently issued reports on the company. Goldman Sachs Group set a $713.00 price target on Mercadolibre and gave the stock a “buy” rating in a research note on Tuesday, September 10th. UBS Group set a $730.00 price target on Mercadolibre and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Credit Suisse Group raised their price target on Mercadolibre from $640.00 to $710.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. They noted that the move was a valuation call. Barclays raised their price target on Mercadolibre from $615.00 to $730.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Finally, Stifel Nicolaus raised their price target on Mercadolibre from $560.00 to $650.00 and gave the stock a “hold” rating in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $665.69.
Shares of MELI stock traded up $8.50 during midday trading on Thursday, hitting $551.02. The company had a trading volume of 239,401 shares, compared to its average volume of 412,293. The company’s 50 day simple moving average is $604.22 and its 200 day simple moving average is $569.38. Mercadolibre Inc has a 52-week low of $257.52 and a 52-week high of $698.98. The stock has a market cap of $27.14 billion, a price-to-earnings ratio of -671.98 and a beta of 1.71. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.54 and a quick ratio of 2.53.
Mercadolibre (NASDAQ:MELI) last announced its earnings results on Wednesday, August 7th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.03. Mercadolibre had a return on equity of 1.24% and a net margin of 0.87%. The company had revenue of $545.24 million for the quarter, compared to the consensus estimate of $507.68 million. During the same period last year, the business posted ($0.25) EPS. The company’s revenue was up 62.6% on a year-over-year basis. Analysts anticipate that Mercadolibre Inc will post 0.58 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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