Pier 88 Investment Partners LLC Lowers Stock Holdings in MercadoLibre, Inc. $MELI

Pier 88 Investment Partners LLC lowered its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 65.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 220 shares of the company’s stock after selling 420 shares during the period. Pier 88 Investment Partners LLC’s holdings in MercadoLibre were worth $514,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Darwin Wealth Management LLC purchased a new position in shares of MercadoLibre during the 2nd quarter valued at $29,000. Steigerwald Gordon & Koch Inc. purchased a new position in MercadoLibre during the third quarter worth about $35,000. Cullen Frost Bankers Inc. increased its stake in MercadoLibre by 100.0% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 16 shares of the company’s stock worth $37,000 after acquiring an additional 8 shares during the last quarter. Curio Wealth LLC raised its holdings in shares of MercadoLibre by 1,400.0% in the 2nd quarter. Curio Wealth LLC now owns 15 shares of the company’s stock valued at $39,000 after acquiring an additional 14 shares in the last quarter. Finally, Stone House Investment Management LLC bought a new stake in shares of MercadoLibre during the 2nd quarter valued at about $39,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Henrique Vasoncelos Dubugras sold 845 shares of the company’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $2,028.14, for a total transaction of $1,713,778.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stelleo Tolda sold 246 shares of the stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $2,047.88, for a total transaction of $503,778.48. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,136 shares of company stock valued at $2,308,788 over the last three months. 0.25% of the stock is owned by company insiders.

MercadoLibre Stock Up 3.5%

Shares of NASDAQ:MELI opened at $2,212.62 on Tuesday. The stock has a market capitalization of $112.18 billion, a P/E ratio of 53.99, a price-to-earnings-growth ratio of 1.06 and a beta of 1.42. The stock’s 50-day moving average price is $2,054.17 and its 200-day moving average price is $2,220.03. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55. MercadoLibre, Inc. has a 12-month low of $1,723.90 and a 12-month high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share for the quarter, missing the consensus estimate of $9.88 by ($1.56). The company had revenue of $7.41 billion for the quarter, compared to analysts’ expectations of $7.19 billion. MercadoLibre had a net margin of 7.93% and a return on equity of 39.03%. The company’s revenue was up 39.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $7.83 earnings per share. On average, equities analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on MELI shares. Susquehanna decreased their price objective on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a research report on Monday, October 13th. Barclays increased their price target on shares of MercadoLibre from $2,800.00 to $2,900.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. JPMorgan Chase & Co. raised their price objective on shares of MercadoLibre from $2,600.00 to $2,650.00 and gave the company a “neutral” rating in a research report on Monday, November 3rd. UBS Group cut their target price on shares of MercadoLibre from $3,000.00 to $2,900.00 and set a “buy” rating for the company in a research report on Monday, November 24th. Finally, Zacks Research lowered MercadoLibre from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 1st. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $2,842.94.

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.