WESPAC Advisors LLC Cuts Position in MercadoLibre, Inc. $MELI

WESPAC Advisors LLC cut its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 21.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 85 shares of the company’s stock after selling 23 shares during the quarter. WESPAC Advisors LLC’s holdings in MercadoLibre were worth $222,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Triasima Portfolio Management inc. increased its holdings in shares of MercadoLibre by 9.4% in the 2nd quarter. Triasima Portfolio Management inc. now owns 3,200 shares of the company’s stock valued at $8,364,000 after acquiring an additional 275 shares during the period. Venturi Wealth Management LLC increased its holdings in shares of MercadoLibre by 4.0% in the 2nd quarter. Venturi Wealth Management LLC now owns 1,615 shares of the company’s stock valued at $4,221,000 after acquiring an additional 62 shares during the period. Canopy Partners LLC purchased a new position in shares of MercadoLibre in the 2nd quarter valued at $382,000. Independent Solutions Wealth Management LLC increased its holdings in shares of MercadoLibre by 2.7% in the 2nd quarter. Independent Solutions Wealth Management LLC now owns 871 shares of the company’s stock valued at $2,276,000 after acquiring an additional 23 shares during the period. Finally, Shell Asset Management Co. increased its holdings in shares of MercadoLibre by 23.5% in the 2nd quarter. Shell Asset Management Co. now owns 2,620 shares of the company’s stock valued at $6,848,000 after acquiring an additional 498 shares during the period. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Susquehanna reiterated a “positive” rating and issued a $2,975.00 price target (up from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of MercadoLibre in a report on Wednesday. JPMorgan Chase & Co. lowered their price objective on MercadoLibre from $2,700.00 to $2,600.00 and set a “neutral” rating for the company in a research report on Friday, October 3rd. Scotiabank assumed coverage on MercadoLibre in a research report on Monday, July 28th. They issued a “sector outperform” rating and a $3,500.00 price objective for the company. Finally, Citigroup lowered their price objective on MercadoLibre from $2,900.00 to $2,850.00 and set a “buy” rating for the company in a research report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus target price of $2,822.78.

MercadoLibre Stock Performance

Shares of MELI opened at $2,179.89 on Thursday. The stock has a 50-day moving average of $2,370.32 and a two-hundred day moving average of $2,343.65. MercadoLibre, Inc. has a one year low of $1,646.00 and a one year high of $2,645.22. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. The stock has a market cap of $110.51 billion, a P/E ratio of 53.84, a P/E/G ratio of 1.46 and a beta of 1.46.

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