Mirae Asset Global Investments Co. Ltd. Sells 1,777 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Mirae Asset Global Investments Co. Ltd. reduced its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 3.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,740 shares of the company’s stock after selling 1,777 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.11% of MercadoLibre worth $66,263,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. increased its position in MercadoLibre by 0.7% in the 1st quarter. Ameritas Investment Partners Inc. now owns 1,077 shares of the company’s stock worth $1,420,000 after buying an additional 8 shares during the period. EverSource Wealth Advisors LLC increased its position in MercadoLibre by 30.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 34 shares of the company’s stock worth $40,000 after buying an additional 8 shares during the period. Savant Capital LLC increased its position in shares of MercadoLibre by 4.0% during the second quarter. Savant Capital LLC now owns 208 shares of the company’s stock valued at $246,000 after purchasing an additional 8 shares during the period. Analyst IMS Investment Management Services Ltd. lifted its position in MercadoLibre by 1.3% in the second quarter. Analyst IMS Investment Management Services Ltd. now owns 691 shares of the company’s stock worth $809,000 after purchasing an additional 9 shares during the period. Finally, CVA Family Office LLC boosted its stake 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 buying an additional 10 shares in the last quarter. 80.01% of the stock is owned by institutional investors.

MercadoLibre Trading Down 1.5 %

MELI stock opened at $1,448.00 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.27 and a debt-to-equity ratio of 0.80. MercadoLibre, Inc. has a twelve month low of $815.85 and a twelve month high of $1,485.95. The company has a market cap of $73.21 billion, a P/E ratio of 74.10, a PEG ratio of 1.44 and a beta of 1.54. The business has a fifty day moving average of $1,296.52 and a 200-day moving average of $1,267.12.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Wednesday, November 1st. The company reported $7.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.88 by $1.28. MercadoLibre had a net margin of 7.47% and a return on equity of 44.56%. The company had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same period in the prior year, the company posted $2.56 EPS. The company’s revenue was up 43.0% compared to the same quarter last year. As a group, equities research analysts expect that MercadoLibre, Inc. will post 21.83 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group raised their price objective on shares of MercadoLibre from $1,910.00 to $2,180.00 and gave the stock a “buy” rating in a report on Wednesday, August 9th. New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $1,400.00 to $1,650.00 in a report on Friday, September 1st. Credit Suisse Group raised their price objective on shares of MercadoLibre from $1,730.00 to $1,760.00 and gave the stock an “outperform” rating in a report on Monday, July 31st. TheStreet raised shares of MercadoLibre from a “c+” rating to a “b-” rating in a report on Wednesday, September 6th. Finally, Susquehanna raised their price objective on shares of MercadoLibre from $1,500.00 to $1,620.00 and gave the stock a “positive” rating in a report on Monday, September 18th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,643.21.

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.