The Manufacturers Life Insurance Company Sells 846 Shares of MercadoLibre, Inc. $MELI

The Manufacturers Life Insurance Company lowered its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 4.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,170 shares of the company’s stock after selling 846 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in MercadoLibre were worth $30,840,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. IPG Investment Advisors LLC lifted its stake in shares of MercadoLibre by 265.1% in the second quarter. IPG Investment Advisors LLC now owns 1,055 shares of the company’s stock valued at $1,791,000 after buying an additional 766 shares in the last quarter. Bienville Capital Management LLC increased its position in shares of MercadoLibre by 50.7% during the second quarter. Bienville Capital Management LLC now owns 32,018 shares of the company’s stock worth $54,347,000 after acquiring an additional 10,774 shares in the last quarter. National Pension Service increased its position in shares of MercadoLibre by 6.7% during the second quarter. National Pension Service now owns 116,125 shares of the company’s stock worth $197,109,000 after acquiring an additional 7,328 shares in the last quarter. WINTON GROUP Ltd raised its holdings in shares of MercadoLibre by 9.3% in the 2nd quarter. WINTON GROUP Ltd now owns 8,620 shares of the company’s stock worth $14,632,000 after acquiring an additional 730 shares during the last quarter. Finally, NorthRock Partners LLC raised 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 worth $433,000 after acquiring an additional 28 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Down 0.5%

MELI opened at $1,897.37 on Friday. MercadoLibre, Inc. has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,548.50. The firm has a market capitalization of $96.20 billion, a P/E ratio of 51.60, a PEG ratio of 1.30 and a beta of 1.31. The company’s 50-day moving average is $1,878.13 and its 200 day moving average is $1,768.31. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, August 6th. The company reported $9.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.65 by $0.54. The business had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The firm’s quarterly revenue was up 49.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $10.31 EPS. Research analysts expect that MercadoLibre, Inc. will post 39.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MELI. Citigroup lifted their price target 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. Zacks Research raised MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Weiss Ratings reissued a “hold (c)” rating on shares of MercadoLibre in a research note on Thursday, July 2nd. Cantor Fitzgerald raised their target price on MercadoLibre from $2,150.00 to $2,300.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Finally, JPMorgan Chase & Co. lifted their target price on 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 research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $2,272.00.

MercadoLibre 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.