Meitav Investment House Ltd. Decreases Stake in MercadoLibre, Inc. $MELI

Meitav Investment House Ltd. cut its position in MercadoLibre, Inc. (NASDAQ:MELI) by 47.2% during the second quarter, HoldingsChannel reports. The firm owned 1,112 shares of the company’s stock after selling 993 shares during the quarter. Meitav Investment House Ltd.’s holdings in MercadoLibre were worth $2,906,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Key Financial Inc purchased a new position in MercadoLibre in the first quarter valued at $25,000. GW&K Investment Management LLC acquired a new position in shares of MercadoLibre during the 1st quarter worth about $25,000. Close Asset Management Ltd increased its holdings in shares of MercadoLibre by 366.7% in the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock valued at $27,000 after acquiring an additional 11 shares during the last quarter. Highline Wealth Partners LLC raised its position in shares of MercadoLibre by 366.7% during the 2nd quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock worth $37,000 after acquiring an additional 11 shares in the last quarter. Finally, Brooklyn Investment Group boosted its holdings in MercadoLibre by 650.0% in the first quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock valued at $29,000 after purchasing an additional 13 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on MELI. JPMorgan Chase & Co. cut their price target on MercadoLibre from $2,700.00 to $2,600.00 and set a “neutral” rating on the stock in a research report on Friday. Scotiabank started coverage on MercadoLibre in a report on Monday, July 28th. They issued a “sector outperform” rating and a $3,500.00 target price for the company. Wall Street Zen downgraded MercadoLibre from a “buy” rating to a “hold” rating in a research note on Sunday, June 22nd. Jefferies Financial Group reaffirmed a “hold” rating and set a $2,800.00 price target on shares of MercadoLibre in a research note on Tuesday, August 5th. Finally, Daiwa Capital Markets initiated coverage on shares of MercadoLibre in a research report on Friday, August 1st. They issued a “buy” rating and a $3,000.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $2,822.78.

MercadoLibre Trading Down 0.9%

MercadoLibre stock opened at $2,154.22 on Tuesday. The stock has a market cap of $109.22 billion, a PE ratio of 53.20, a P/E/G ratio of 1.45 and a beta of 1.46. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. The stock has a 50-day moving average price of $2,378.30 and a 200 day moving average price of $2,345.89. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $12.01 by ($1.70). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The firm had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.57 billion. During the same quarter last year, the business posted $10.48 EPS. The firm’s revenue was up 33.8% compared to the same quarter last year. Equities research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

MercadoLibre 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.