MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Ignite Planners LLC

Ignite Planners LLC lessened its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 2.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,017 shares of the company’s stock after selling 28 shares during the quarter. Ignite Planners LLC’s holdings in MercadoLibre were worth $1,173,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Advisory Resource Group lifted its stake in shares of MercadoLibre by 6.8% in the 2nd quarter. Advisory Resource Group now owns 535 shares of the company’s stock valued at $634,000 after purchasing an additional 34 shares during the period. Flagship Harbor Advisors LLC lifted its position in shares of MercadoLibre by 10.7% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 527 shares of the company’s stock valued at $624,000 after buying an additional 51 shares in the last quarter. Level Four Advisory Services LLC grew its stake in MercadoLibre by 8.1% in the 2nd quarter. Level Four Advisory Services LLC now owns 375 shares of the company’s stock valued at $444,000 after acquiring an additional 28 shares during the period. AE Wealth Management LLC increased its holdings in MercadoLibre by 23.5% in the 2nd quarter. AE Wealth Management LLC now owns 1,932 shares of the company’s stock worth $2,289,000 after acquiring an additional 368 shares in the last quarter. Finally, CVA Family Office LLC raised its position in MercadoLibre by 21.3% during the second quarter. CVA Family Office LLC now owns 57 shares of the company’s stock worth $68,000 after acquiring an additional 10 shares during the period. 80.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MELI has been the subject of a number of research reports. Citigroup boosted their target price on shares of MercadoLibre from $1,500.00 to $1,550.00 in a research note on Wednesday, August 9th. StockNews.com assumed coverage on MercadoLibre in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Bank of America downgraded MercadoLibre from a “buy” rating to a “neutral” rating and decreased their target price for the company from $1,680.00 to $1,350.00 in a research report on Monday, July 10th. Wedbush began coverage on MercadoLibre in a research note on Monday, August 21st. They issued an “outperform” rating and a $1,500.00 price target on the stock. Finally, Wolfe Research decreased their price objective on MercadoLibre from $1,700.00 to $1,400.00 in a report on Monday, July 10th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, MercadoLibre has an average rating of “Moderate Buy” and an average price target of $1,643.21.

MercadoLibre Trading Down 0.5 %

MELI stock traded down $7.53 during trading on Monday, reaching $1,389.13. 108,034 shares of the stock were exchanged, compared to its average volume of 507,882. The company has a current ratio of 1.28, a quick ratio of 1.25 and a debt-to-equity ratio of 1.10. The firm has a market capitalization of $69.59 billion, a price-to-earnings ratio of 93.48, a P/E/G ratio of 1.44 and a beta of 1.51. The business has a 50 day moving average price of $1,276.27 and a 200-day moving average price of $1,254.90. MercadoLibre, Inc. has a 1 year low of $754.76 and a 1 year high of $1,451.56.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Wednesday, August 2nd. The company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.13 by $1.03. The firm had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.27 billion. MercadoLibre had a net margin of 6.23% and a return on equity of 39.07%. The business’s revenue for the quarter was up 31.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.43 EPS. On average, research analysts predict that MercadoLibre, Inc. will post 20.56 earnings per share for the current year.

MercadoLibre Profile

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; 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.