SYSTM Wealth Solutions LLC Cuts Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

SYSTM Wealth Solutions LLC lessened its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 78.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 109 shares of the company’s stock after selling 405 shares during the period. SYSTM Wealth Solutions LLC’s holdings in MercadoLibre were worth $179,000 at the end of the most recent quarter.

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

MercadoLibre Stock Performance

NASDAQ MELI opened at $2,102.64 on Thursday. The firm has a market capitalization of $106.60 billion, a P/E ratio of 94.08, a PEG ratio of 1.33 and a beta of 1.61. The stock has a 50-day simple moving average of $1,884.30 and a two-hundred day simple moving average of $1,683.67. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. MercadoLibre, Inc. has a fifty-two week low of $1,141.04 and a fifty-two week high of $2,143.96.

MercadoLibre (NASDAQ:MELI) last announced 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 return on equity of 43.52% and a net margin of 8.03%. The company had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same period last year, the business earned $5.16 earnings per share. MercadoLibre’s quarterly revenue was up 41.5% on a year-over-year basis. On average, equities analysts forecast that MercadoLibre, Inc. will post 35.22 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on MELI. Susquehanna increased their price target on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research report on Wednesday, August 28th. Cantor Fitzgerald began coverage on shares of MercadoLibre in a research report on Thursday, September 5th. They set an “overweight” rating and a $2,530.00 target price for the company. Dbs Bank raised shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 11th. StockNews.com lowered MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Finally, BTIG Research boosted their target price on MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $2,182.92.

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.