C WorldWide Group Holding A S Cuts Stock Holdings in MercadoLibre, Inc. $MELI

C WorldWide Group Holding A S reduced its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 2.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,531 shares of the company’s stock after selling 1,443 shares during the period. MercadoLibre makes up about 2.2% of C WorldWide Group Holding A S’s holdings, making the stock its 15th largest holding. C WorldWide Group Holding A S owned about 0.10% of MercadoLibre worth $87,468,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. California State Teachers Retirement System grew its stake in MercadoLibre by 176,119.7% during the 2nd quarter. California State Teachers Retirement System now owns 119,862,892 shares of the company’s stock worth $203,454,074,000 after purchasing an additional 119,794,873 shares in the last quarter. Capital Research Global Investors increased its stake in shares of MercadoLibre by 22.5% during the fourth quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock worth $4,481,812,000 after buying an additional 408,939 shares during the period. Capital International Investors increased its stake in shares of MercadoLibre by 7.3% during the fourth quarter. Capital International Investors now owns 1,725,125 shares of the company’s stock worth $3,474,880,000 after buying an additional 118,018 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in MercadoLibre by 9.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company’s stock valued at $3,188,718,000 after acquiring an additional 137,100 shares in the last quarter. Finally, BlackRock Inc. acquired a new stake in MercadoLibre in the second quarter valued at approximately $2,246,015,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MELI. JPMorgan Chase & Co. lifted their price target on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. BTIG Research reaffirmed a “buy” rating and set a $2,150.00 price objective on shares of MercadoLibre in a research report on Thursday, September 3rd. Citigroup increased their target price on MercadoLibre from $1,950.00 to $2,000.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Weiss Ratings restated a “hold (c)” rating on shares of MercadoLibre in a research note on Thursday, July 2nd. Finally, UBS Group decreased their price target on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Eleven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $2,272.00.

MercadoLibre Stock Down 2.6%

Shares of NASDAQ:MELI opened at $1,926.25 on Wednesday. The firm has a 50 day simple moving average of $1,869.91 and a 200-day simple moving average of $1,768.88. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,548.50. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $97.66 billion, a PE ratio of 52.39, a P/E/G ratio of 1.36 and a beta of 1.31.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Wednesday, August 5th. The company reported $9.19 EPS for the quarter, beating analysts’ consensus estimates of $8.65 by $0.54. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The firm had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.79 billion. During the same period last year, the firm posted $10.31 EPS. The company’s revenue was up 49.8% on a year-over-year basis. On average, equities analysts predict that MercadoLibre, Inc. will post 39.11 EPS for the current fiscal year.

MercadoLibre Profile

MercadoLibre, Inc is a technology company that operates an online commerce and financial services ecosystem across Latin America. Founded in 1999 by Marcos Galperin, the company began as an online marketplace and has expanded into a broad platform serving consumers, merchants and businesses.

Its marketplace enables users to buy and sell products across categories, while Mercado Pago provides digital payments, online checkout, money transfers and other financial services. The company also offers Mercado Envíos logistics and fulfillment services, Mercado Ads advertising solutions, and credit products through Mercado Crédito.