ASB Consultores LLC Sells 73 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

ASB Consultores LLC reduced its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 23.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 233 shares of the company’s stock after selling 73 shares during the period. ASB Consultores LLC’s holdings in MercadoLibre were worth $383,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. increased its position in 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 buying an additional 16 shares during the period. First PREMIER Bank bought a new position in MercadoLibre in the 1st quarter worth approximately $27,000. Financial Connections Group Inc. bought a new stake in shares of MercadoLibre during the second quarter valued at approximately $36,000. DSM Capital Partners LLC bought a new stake in shares of MercadoLibre during the fourth quarter valued at approximately $36,000. Finally, Scarborough Advisors LLC bought a new stake in shares of MercadoLibre during the fourth quarter valued at approximately $36,000. 87.62% of the stock is owned by institutional investors.

MercadoLibre Price Performance

MercadoLibre stock opened at $2,109.40 on Friday. The business’s 50-day simple moving average is $1,892.32 and its 200 day simple moving average is $1,686.62. The stock has a market cap of $106.94 billion, a price-to-earnings ratio of 94.38, a P/E/G ratio of 1.33 and a beta of 1.61. MercadoLibre, Inc. has a 12-month low of $1,141.04 and a 12-month high of $2,157.64. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on MELI shares. Barclays boosted their price objective on MercadoLibre from $2,000.00 to $2,100.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Citigroup boosted their price target on MercadoLibre from $2,000.00 to $2,200.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. The Goldman Sachs Group boosted their price target on MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. boosted their price target on MercadoLibre from $2,150.00 to $2,400.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Finally, Cantor Fitzgerald started coverage on MercadoLibre in a research note on Thursday, September 5th. They issued an “overweight” rating and a $2,530.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and a consensus 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.