Sigma Planning Corp Decreases Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Sigma Planning Corp reduced its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 25.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 529 shares of the company’s stock after selling 181 shares during the quarter. Sigma Planning Corp’s holdings in MercadoLibre were worth $831,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Turtle Creek Wealth Advisors LLC purchased a new position in shares of MercadoLibre in the fourth quarter valued at $28,000. Archer Investment Corp purchased a new position in shares of MercadoLibre in the fourth quarter valued at $31,000. Proffitt & Goodson Inc. purchased a new position in shares of MercadoLibre in the third quarter valued at $32,000. NBC Securities Inc. purchased a new position in shares of MercadoLibre in the third quarter valued at $35,000. Finally, Blue Trust Inc. boosted its stake in shares of MercadoLibre by 56.3% in the fourth quarter. Blue Trust Inc. now owns 25 shares of the company’s stock valued at $39,000 after purchasing an additional 9 shares during the period. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Stock Up 2.0 %

Shares of NASDAQ:MELI opened at $1,395.00 on Wednesday. The stock has a market capitalization of $70.73 billion, a price-to-earnings ratio of 71.39, a price-to-earnings-growth ratio of 0.88 and a beta of 1.44. MercadoLibre, Inc. has a 1-year low of $1,063.02 and a 1-year high of $1,825.00. The company’s fifty day moving average is $1,546.31 and its two-hundred day moving average is $1,529.78. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.27.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, February 22nd. The company reported $3.25 earnings per share for the quarter, missing analysts’ consensus estimates of $6.66 by ($3.41). MercadoLibre had a return on equity of 39.07% and a net margin of 6.82%. The business had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.14 billion. During the same period last year, the company posted $3.25 earnings per share. The firm’s revenue for the quarter was up 42.0% on a year-over-year basis. Equities analysts anticipate that MercadoLibre, Inc. will post 35.77 EPS for the current year.

Analyst Ratings Changes

MELI has been the subject of several analyst reports. Citigroup decreased their target price on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating for the company in a research note on Wednesday, March 27th. UBS Group cut their price target on shares of MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. Wedbush reaffirmed an “outperform” rating and issued a $2,000.00 price target on shares of MercadoLibre in a report on Tuesday, March 5th. StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. Finally, Barclays cut their price target on shares of MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating on the stock in a report on Wednesday, April 3rd. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, MercadoLibre presently has an average rating of “Moderate Buy” and an average price target of $1,804.64.

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.