RWC Asset Advisors US LLC Lowers Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

RWC Asset Advisors US LLC lowered its position in MercadoLibre, Inc. (NASDAQ:MELI) by 7.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 54,112 shares of the company’s stock after selling 4,266 shares during the period. MercadoLibre comprises about 9.1% of RWC Asset Advisors US LLC’s investment portfolio, making the stock its 5th biggest holding. RWC Asset Advisors US LLC owned 0.11% of MercadoLibre worth $88,928,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. lifted its position in MercadoLibre by 1,600.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after purchasing an additional 16 shares in the last quarter. First PREMIER Bank purchased a new stake in shares of MercadoLibre in the first quarter worth $27,000. Financial Connections Group Inc. bought a new stake in shares of MercadoLibre during the 2nd quarter valued at $36,000. DSM Capital Partners LLC bought a new position in MercadoLibre in the 4th quarter worth $36,000. Finally, Scarborough Advisors LLC purchased a new stake in MercadoLibre in the 4th quarter worth $36,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MELI. New Street Research downgraded MercadoLibre from a “buy” rating to a “neutral” rating in a research note on Friday, May 24th. Susquehanna boosted their price target on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research note on Wednesday, August 28th. JPMorgan Chase & Co. raised their price target on MercadoLibre from $2,150.00 to $2,400.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. StockNews.com downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Finally, Jefferies Financial Group upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and boosted their target price for the stock from $1,400.00 to $2,100.00 in a report on Monday, May 20th. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and a consensus price target of $2,105.91.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $2,061.66 on Tuesday. The stock’s fifty day moving average is $1,786.83 and its two-hundred day moving average is $1,652.03. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $104.52 billion, a PE ratio of 92.24, a price-to-earnings-growth ratio of 1.36 and a beta of 1.60. MercadoLibre, Inc. has a 52 week low of $1,141.04 and a 52 week high of $2,064.76.

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

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.