C WorldWide Group Holding A S Reduces Position in MercadoLibre, Inc. $MELI

C WorldWide Group Holding A S decreased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 2.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,531 shares of the company’s stock after selling 1,443 shares during the period. MercadoLibre accounts for approximately 2.2% of C WorldWide Group Holding A S’s portfolio, making the stock its 15th biggest holding. C WorldWide Group Holding A S’s holdings in MercadoLibre were worth $87,468,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NorthRock Partners LLC increased its holdings in shares of MercadoLibre by 12.3% in the 2nd quarter. NorthRock Partners LLC now owns 255 shares of the company’s stock valued at $433,000 after acquiring an additional 28 shares during the period. RFG Advisory LLC boosted its stake in MercadoLibre by 32.2% during the 2nd quarter. RFG Advisory LLC now owns 1,736 shares of the company’s stock worth $2,946,000 after purchasing an additional 423 shares during the period. NewEdge Advisors LLC boosted its stake in MercadoLibre by 6.1% during the 2nd quarter. NewEdge Advisors LLC now owns 4,072 shares of the company’s stock worth $6,912,000 after purchasing an additional 234 shares during the period. IFP Advisors Inc grew its position in MercadoLibre by 56.2% during the 2nd quarter. IFP Advisors Inc now owns 2,525 shares of the company’s stock worth $4,286,000 after purchasing an additional 908 shares during the last quarter. Finally, BayBridge Capital Group LLC grew its position in MercadoLibre by 6.0% during the 2nd quarter. BayBridge Capital Group LLC now owns 123 shares of the company’s stock worth $209,000 after purchasing an additional 7 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Down 2.6%

Shares of MercadoLibre stock opened at $1,926.25 on Wednesday. The firm has a market cap of $97.66 billion, a price-to-earnings ratio of 52.39, a price-to-earnings-growth ratio of 1.36 and a beta of 1.31. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,548.50. The company’s 50-day simple moving average is $1,869.91 and its 200-day simple moving average is $1,768.88. 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 quarterly earnings data on Wednesday, August 5th. The company reported $9.19 EPS for the quarter, beating analysts’ consensus estimates of $8.65 by $0.54. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The firm had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.79 billion. During the same quarter last year, the firm earned $10.31 earnings per share. The firm’s revenue was up 49.8% compared to the same quarter last year. As a group, equities research analysts anticipate that MercadoLibre, Inc. will post 39.11 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MercadoLibre in a report on Thursday, July 2nd. BTIG Research reissued a “buy” rating and set a $2,150.00 price target on shares of MercadoLibre in a report on Thursday, September 3rd. Cantor Fitzgerald boosted their price target on MercadoLibre from $2,150.00 to $2,300.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Citigroup upped their price objective on MercadoLibre from $1,950.00 to $2,000.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Finally, UBS Group decreased their price objective on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, MercadoLibre presently has an average rating of “Moderate Buy” and a consensus price target of $2,272.00.

MercadoLibre Company Profile

MercadoLibre, Inc is a technology company that operates an online commerce and financial services ecosystem across Latin America. Founded in 1999 by Marcos Galperin, the company began as an online marketplace and has expanded into a broad platform serving consumers, merchants and businesses.

Its marketplace enables users to buy and sell products across categories, while Mercado Pago provides digital payments, online checkout, money transfers and other financial services. The company also offers Mercado Envíos logistics and fulfillment services, Mercado Ads advertising solutions, and credit products through Mercado Crédito.