MercadoLibre, Inc. $MELI Shares Sold by Vancity Investment Management Ltd

Vancity Investment Management Ltd decreased its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 6.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 8,389 shares of the company’s stock after selling 584 shares during the quarter. MercadoLibre accounts for approximately 2.1% of Vancity Investment Management Ltd’s investment portfolio, making the stock its 16th largest holding. Vancity Investment Management Ltd’s holdings in MercadoLibre were worth $14,239,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MELI. Bison Wealth LLC purchased a new stake in MercadoLibre during the 4th quarter worth $206,000. Empowered Funds LLC increased its holdings in MercadoLibre by 6.9% in the 1st quarter. Empowered Funds LLC now owns 760 shares of the company’s stock valued at $1,483,000 after purchasing an additional 49 shares in the last quarter. Focus Partners Wealth raised its position in MercadoLibre by 42.0% in the first quarter. Focus Partners Wealth now owns 602 shares of the company’s stock valued at $1,176,000 after purchasing an additional 178 shares during the period. Sivia Capital Partners LLC purchased a new position in MercadoLibre in the second quarter valued at about $261,000. Finally, Gamco Investors INC. ET AL lifted its stake in shares of MercadoLibre by 21.4% during the second quarter. Gamco Investors INC. ET AL now owns 170 shares of the company’s stock worth $444,000 after purchasing an additional 30 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $1,978.36 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10. The firm has a 50-day moving average of $1,859.43 and a two-hundred day moving average of $1,769.45. The stock has a market cap of $100.30 billion, a P/E ratio of 53.80, a PEG ratio of 1.36 and a beta of 1.31. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,548.50.

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 return on equity of 26.54% and a net margin of 5.30%.The company had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.79 billion. During the same period last year, the firm earned $10.31 earnings per share. The company’s revenue was up 49.8% on a year-over-year basis. On average, research analysts expect that MercadoLibre, Inc. will post 39.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MELI has been the subject of a number of recent research reports. Morgan Stanley lowered their target price on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. Weiss Ratings reissued a “hold (c)” rating on shares of MercadoLibre in a research report on Thursday, July 2nd. UBS Group reduced their price target on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. Barclays decreased their price target on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating for the company in a report on Monday, May 11th. Finally, JPMorgan Chase & Co. increased their price objective on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,272.00.

MercadoLibre Company 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.