TBH Global Asset Management LLC Sells 28 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

TBH Global Asset Management LLC lessened its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 10.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 247 shares of the company’s stock after selling 28 shares during the quarter. TBH Global Asset Management LLC’s holdings in MercadoLibre were worth $373,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of MELI. SageView Advisory Group LLC acquired a new position in MercadoLibre during the 1st quarter valued at approximately $661,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in MercadoLibre by 20.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,642 shares of the company’s stock valued at $41,794,000 after purchasing an additional 4,658 shares in the last quarter. Texas Yale Capital Corp. increased its stake in MercadoLibre by 0.9% during the 1st quarter. Texas Yale Capital Corp. now owns 1,614 shares of the company’s stock valued at $2,440,000 after purchasing an additional 15 shares in the last quarter. Jackson Square Partners LLC increased its stake in MercadoLibre by 93.8% during the 1st quarter. Jackson Square Partners LLC now owns 62 shares of the company’s stock valued at $94,000 after purchasing an additional 30 shares in the last quarter. Finally, Portland Global Advisors LLC increased its stake in MercadoLibre by 3.8% during the 1st quarter. Portland Global Advisors LLC now owns 1,819 shares of the company’s stock valued at $2,750,000 after purchasing an additional 66 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

NASDAQ MELI traded up $27.82 during mid-day trading on Friday, reaching $1,651.08. 73,903 shares of the stock were exchanged, compared to its average volume of 368,422. The business’s 50 day moving average is $1,661.26 and its 200-day moving average is $1,614.21. MercadoLibre, Inc. has a 1 year low of $1,141.04 and a 1 year high of $1,825.00. The company has a market capitalization of $83.71 billion, a P/E ratio of 73.75, a P/E/G ratio of 1.22 and a beta of 1.60. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.25 and a current ratio of 1.27.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $6.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.64 by $0.14. The business had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $3.84 billion. MercadoLibre had a net margin of 7.17% and a return on equity of 39.46%. The company’s revenue was up 36.0% compared to the same quarter last year. During the same period last year, the firm posted $3.97 earnings per share. On average, equities research analysts forecast that MercadoLibre, Inc. will post 33.81 EPS for the current fiscal year.

Analyst Ratings Changes

MELI has been the topic of several recent research reports. Barclays upped their price objective on shares of MercadoLibre from $1,800.00 to $2,000.00 and gave the company an “overweight” rating in a report on Monday, May 13th. DZ Bank raised shares of MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price objective on the stock in a report on Tuesday, April 23rd. Dbs Bank raised shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 11th. Wedbush reaffirmed an “outperform” rating and issued a $1,800.00 price objective on shares of MercadoLibre in a report on Friday, May 3rd. Finally, UBS Group dropped their price objective on shares of MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,922.08.

MercadoLibre Company Profile

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.