AdvisorNet Financial Inc Sells 26 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

AdvisorNet Financial Inc lowered its position in MercadoLibre, Inc. (NASDAQ:MELI) by 2.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,014 shares of the company’s stock after selling 26 shares during the quarter. AdvisorNet Financial Inc’s holdings in MercadoLibre were worth $1,666,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of MELI. Capital International Investors boosted its holdings in shares of MercadoLibre by 0.4% in the fourth quarter. Capital International Investors now owns 1,037,070 shares of the company’s stock valued at $1,630,740,000 after buying an additional 4,317 shares during the period. Capital World Investors raised its holdings in shares of MercadoLibre by 12.7% in the 1st quarter. Capital World Investors now owns 845,749 shares of the company’s stock valued at $1,278,738,000 after purchasing an additional 95,029 shares during the period. GQG Partners LLC increased its position in MercadoLibre by 442.2% during the first quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock worth $1,201,679,000 after buying an additional 648,198 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of MercadoLibre by 43.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock valued at $1,167,073,000 after purchasing an additional 232,787 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in MercadoLibre by 55.8% in the 1st quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock valued at $557,225,000 after acquiring an additional 132,028 shares during the period. Institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MELI. Wedbush restated an “outperform” rating and issued a $1,800.00 price target on shares of MercadoLibre in a research note on Friday, May 3rd. The Goldman Sachs Group boosted their target price on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 11th. StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Finally, DZ Bank upgraded MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 target price for the company in a research note on Tuesday, April 23rd. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and a consensus price target of $2,020.00.

MercadoLibre Stock Performance

Shares of MELI traded up $93.43 during mid-day trading on Thursday, reaching $1,992.00. The company had a trading volume of 379,460 shares, compared to its average volume of 369,915. The stock has a 50 day moving average of $1,676.02 and a two-hundred day moving average of $1,627.87. The company has a quick ratio of 1.25, a current ratio of 1.27 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $100.99 billion, a P/E ratio of 86.94, a PEG ratio of 1.13 and a beta of 1.60. MercadoLibre, Inc. has a 52-week low of $1,141.04 and a 52-week high of $1,995.26.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, beating analysts’ consensus estimates of $8.53 by $1.95. The company had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.64 billion. MercadoLibre had a return on equity of 45.61% and a net margin of 8.03%. The company’s revenue for the quarter was up 41.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.16 earnings per share. On average, analysts expect that MercadoLibre, Inc. will post 33.4 earnings per share for the current year.

About MercadoLibre

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.