Montag A & Associates Inc. Lowers Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Montag A & Associates Inc. reduced its position in MercadoLibre, Inc. (NASDAQ:MELI) by 41.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 379 shares of the company’s stock after selling 272 shares during the period. Montag A & Associates Inc.’s holdings in MercadoLibre were worth $623,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. First PREMIER Bank acquired a new stake in MercadoLibre in the 1st quarter valued at $27,000. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of MercadoLibre by 1,600.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after buying an additional 16 shares during the period. DSM Capital Partners LLC acquired a new position in MercadoLibre during the 4th quarter worth approximately $36,000. Scarborough Advisors LLC acquired a new stake in shares of MercadoLibre during the fourth quarter valued at about $36,000. Finally, Financial Connections Group Inc. purchased a new stake in shares of MercadoLibre during the second quarter worth about $36,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

MELI has been the topic of a number of recent analyst reports. Susquehanna upped their target price on MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research report on Wednesday, August 28th. Jefferies Financial Group upgraded MercadoLibre from a “hold” rating to a “buy” rating and increased their price target for the stock from $1,400.00 to $2,100.00 in a research report on Monday, May 20th. BTIG Research boosted their price objective on MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. JPMorgan Chase & Co. increased their target price on MercadoLibre from $2,150.00 to $2,400.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Finally, Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 11th. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, MercadoLibre presently has an average rating of “Moderate Buy” and a consensus target price of $2,105.91.

MercadoLibre Stock Up 2.3 %

MELI stock opened at $2,061.66 on Monday. The firm has a market cap of $104.52 billion, a PE ratio of 92.24, a P/E/G ratio of 1.36 and a beta of 1.60. MercadoLibre, Inc. has a 12 month low of $1,141.04 and a 12 month high of $2,064.76. The firm has a 50 day simple moving average of $1,777.26 and a 200 day simple moving average of $1,649.99. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, topping the consensus estimate of $8.53 by $1.95. The business had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The firm’s quarterly revenue was up 41.5% compared to the same quarter last year. During the same period last year, the firm posted $5.16 earnings per share. Equities research analysts forecast that MercadoLibre, Inc. will post 35.22 earnings per share for the current fiscal year.

MercadoLibre Profile

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.