Csenge Advisory Group Cuts Holdings in MercadoLibre, Inc. $MELI

Csenge Advisory Group lowered its position in MercadoLibre, Inc. (NASDAQ:MELI) by 79.1% during the second quarter, Holdings Channel.com reports. The fund owned 133 shares of the company’s stock after selling 504 shares during the quarter. Csenge Advisory Group’s holdings in MercadoLibre were worth $225,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in MELI. BlackRock Inc. purchased a new position in shares of MercadoLibre in the 2nd quarter worth about $2,246,015,000. Capital Research Global Investors increased its position in MercadoLibre by 22.5% during the 4th quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock worth $4,481,812,000 after purchasing an additional 408,939 shares in the last quarter. Norges Bank purchased a new position in MercadoLibre in the fourth quarter valued at approximately $597,045,000. Royal Bank of Canada raised its holdings in MercadoLibre by 114.2% in the first quarter. Royal Bank of Canada now owns 444,603 shares of the company’s stock valued at $768,728,000 after buying an additional 237,008 shares during the period. Finally, Marshall Wace LLP lifted its position in MercadoLibre by 184.8% during the fourth quarter. Marshall Wace LLP now owns 311,818 shares of the company’s stock valued at $628,083,000 after buying an additional 202,322 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

MELI has been the subject of several research reports. UBS Group decreased their price objective on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. Morgan Stanley reduced their target price on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. The Goldman Sachs Group set a $2,100.00 price target on shares of MercadoLibre in a research report on Wednesday, May 13th. BTIG Research reiterated a “buy” rating and issued a $2,150.00 price target on shares of MercadoLibre in a report on Thursday, August 6th. Finally, Scotiabank cut their price objective on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a research report on Thursday, May 7th. Eleven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $2,272.00.

MercadoLibre Stock Up 0.0%

Shares of NASDAQ:MELI opened at $1,922.73 on Friday. The company has a market capitalization of $97.48 billion, a price-to-earnings ratio of 52.29, a price-to-earnings-growth ratio of 1.32 and a beta of 1.34. The company has a 50 day moving average of $1,793.05 and a two-hundred day moving average of $1,775.94. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,548.50. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.53.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share for the quarter, beating the consensus estimate of $8.65 by $0.54. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The business had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.79 billion. During the same period in the prior year, the firm earned $10.31 earnings per share. The business’s quarterly revenue was up 49.8% compared to the same quarter last year. As a group, analysts forecast that MercadoLibre, Inc. will post 39.11 earnings per share for the current fiscal year.

MercadoLibre Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.