Ithaka Group LLC Sells 61 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Ithaka Group LLC decreased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 0.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,402 shares of the company’s stock after selling 61 shares during the quarter. MercadoLibre accounts for approximately 2.2% of Ithaka Group LLC’s investment portfolio, making the stock its 17th largest position. Ithaka Group LLC’s holdings in MercadoLibre were worth $12,164,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Amalgamated Bank grew its holdings in MercadoLibre by 22.2% during the 4th quarter. Amalgamated Bank now owns 55 shares of the company’s stock worth $86,000 after acquiring an additional 10 shares during the last quarter. Gryphon Financial Partners LLC grew its stake in MercadoLibre by 40.9% in the fourth quarter. Gryphon Financial Partners LLC now owns 513 shares of the company’s stock valued at $861,000 after acquiring an additional 149 shares during the period. QRG Capital Management Inc. bought a new stake in shares of MercadoLibre during the fourth quarter valued at approximately $223,000. Quadrant Capital Group LLC increased its stake in MercadoLibre by 13.0% during the 4th quarter. Quadrant Capital Group LLC now owns 78 shares of the company’s stock valued at $123,000 after purchasing an additional 9 shares in the last quarter. Finally, Meridian Wealth Management LLC acquired a new stake in shares of MercadoLibre in the 4th quarter worth about $231,000. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

NASDAQ MELI opened at $2,122.37 on Monday. The stock has a market capitalization of $107.60 billion, a PE ratio of 94.96, a P/E/G ratio of 1.33 and a beta of 1.61. MercadoLibre, Inc. has a 1 year low of $1,141.04 and a 1 year high of $2,143.96. The company’s 50 day simple moving average is $1,860.84 and its two-hundred day simple moving average is $1,673.87. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, beating analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The business had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same period last year, the firm posted $5.16 earnings per share. MercadoLibre’s quarterly revenue was up 41.5% on a year-over-year basis. Analysts predict that MercadoLibre, Inc. will post 35.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on MELI shares. Dbs Bank raised MercadoLibre from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 11th. JPMorgan Chase & Co. lifted their price target on shares of MercadoLibre from $2,150.00 to $2,400.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Jefferies Financial Group upgraded MercadoLibre from a “hold” rating to a “buy” rating and upped their price objective for the company from $1,400.00 to $2,100.00 in a research note on Monday, May 20th. New Street Research downgraded MercadoLibre from a “buy” rating to a “neutral” rating in a research report on Friday, May 24th. Finally, Susquehanna lifted their price objective on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a report on Wednesday, August 28th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $2,182.92.

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.