Shelton Capital Management Sells 44 Shares of MercadoLibre, Inc. $MELI

Shelton Capital Management reduced its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 0.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,765 shares of the company’s stock after selling 44 shares during the quarter. Shelton Capital Management’s holdings in MercadoLibre were worth $15,068,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jackson Wealth Management LLC bought a new stake in MercadoLibre during the second quarter valued at about $499,000. Highview Capital Management LLC DE purchased a new stake in shares of MercadoLibre during the second quarter valued at about $559,000. Ninety One North America Inc. boosted its holdings in shares of MercadoLibre by 21.5% in the 2nd quarter. Ninety One North America Inc. now owns 6,094 shares of the company’s stock valued at $15,927,000 after buying an additional 1,080 shares in the last quarter. Resona Asset Management Co. Ltd. boosted its holdings in shares of MercadoLibre by 4.0% in the 2nd quarter. Resona Asset Management Co. Ltd. now owns 15,308 shares of the company’s stock valued at $39,900,000 after buying an additional 585 shares in the last quarter. Finally, Banco Santander S.A. grew its position in shares of MercadoLibre by 221.9% in the 1st quarter. Banco Santander S.A. now owns 2,746 shares of the company’s stock worth $5,357,000 after buying an additional 1,893 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MELI has been the subject of a number of analyst reports. Cantor Fitzgerald decreased their target price on shares of MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. JPMorgan Chase & Co. increased their price objective on MercadoLibre from $2,600.00 to $2,650.00 and gave the company a “neutral” rating in a report on Monday, November 3rd. Susquehanna lowered their price objective on MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating for the company in a research report on Monday, October 13th. Benchmark reduced their target price on MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. Finally, Zacks Research upgraded MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 26th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $2,848.82.

MercadoLibre Price Performance

Shares of MELI opened at $2,082.00 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. The company’s fifty day moving average price is $2,184.85 and its 200-day moving average price is $2,348.33. MercadoLibre, Inc. has a 1-year low of $1,646.00 and a 1-year high of $2,645.22. The firm has a market capitalization of $105.55 billion, a PE ratio of 50.81, a price-to-earnings-growth ratio of 1.56 and a beta of 1.51.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $8.32 EPS for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). The firm had revenue of $7.41 billion for the quarter, compared to analyst estimates of $7.19 billion. MercadoLibre had a return on equity of 41.35% and a net margin of 7.93%.The business’s revenue was up 39.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $7.83 EPS. On average, equities research analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current year.

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.