MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC cut its position in MercadoLibre, Inc. (NASDAQ:MELI) by 81.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,157 shares of the company’s stock after selling 56,744 shares during the quarter. Renaissance Technologies LLC’s holdings in MercadoLibre were worth $21,624,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in MELI. Amalgamated Bank boosted its position in shares of MercadoLibre by 22.2% in the 4th quarter. Amalgamated Bank now owns 55 shares of the company’s stock valued at $86,000 after purchasing an additional 10 shares during the period. Gryphon Financial Partners LLC boosted its position in shares of MercadoLibre by 40.9% in the 4th quarter. Gryphon Financial Partners LLC now owns 513 shares of the company’s stock valued at $861,000 after purchasing an additional 149 shares during the period. Quadrant Capital Group LLC boosted its position in shares of MercadoLibre by 13.0% in the 4th quarter. Quadrant Capital Group LLC now owns 78 shares of the company’s stock valued at $123,000 after purchasing an additional 9 shares during the period. Brown Advisory Inc. boosted its position in shares of MercadoLibre by 2.3% in the 4th quarter. Brown Advisory Inc. now owns 545 shares of the company’s stock valued at $856,000 after purchasing an additional 12 shares during the period. Finally, Coldstream Capital Management Inc. acquired a new stake in shares of MercadoLibre in the 4th quarter valued at about $446,000. 87.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MELI. 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. Morgan Stanley upped their price objective on MercadoLibre from $2,175.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Friday. Barclays upped their price objective on MercadoLibre from $2,000.00 to $2,100.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Finally, Dbs Bank raised MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $2,207.31.

MercadoLibre Stock Performance

Shares of MELI stock opened at $2,103.75 on Friday. The company has a market cap of $106.65 billion, a price-to-earnings ratio of 94.13, a price-to-earnings-growth ratio of 1.33 and a beta of 1.61. The stock has a 50 day simple moving average of $1,899.17 and a 200-day simple moving average of $1,690.40. MercadoLibre, Inc. has a 12-month low of $1,141.04 and a 12-month high of $2,157.64. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. The business had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.64 billion. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The company’s revenue for the quarter was up 41.5% on a year-over-year basis. During the same period in the prior year, the business posted $5.16 EPS. On average, equities analysts forecast that MercadoLibre, Inc. will post 35.22 EPS for the current year.

MercadoLibre Company 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.