Symmetry Investments LP Cuts Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Symmetry Investments LP lowered its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 40.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,502 shares of the company’s stock after selling 1,000 shares during the quarter. Symmetry Investments LP’s holdings in MercadoLibre were worth $2,468,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital International Investors grew its position in MercadoLibre by 0.4% in the 4th quarter. Capital International Investors now owns 1,037,070 shares of the company’s stock worth $1,630,740,000 after purchasing an additional 4,317 shares during the period. Capital World Investors lifted its stake in shares of MercadoLibre by 12.7% in the 1st quarter. Capital World Investors now owns 845,749 shares of the company’s stock worth $1,278,738,000 after purchasing an additional 95,029 shares during the period. GQG Partners LLC increased its holdings in MercadoLibre by 442.2% during the first quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock valued at $1,201,679,000 after buying an additional 648,198 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of MercadoLibre by 43.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock worth $1,167,073,000 after purchasing an additional 232,787 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in MercadoLibre by 55.8% in the 1st quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock worth $557,225,000 after purchasing an additional 132,028 shares during the period. 87.62% of the stock is owned by institutional investors.

MercadoLibre Stock Down 0.3 %

NASDAQ MELI opened at $2,103.75 on Friday. The stock has a 50 day moving average price of $1,899.17 and a 200-day moving average price of $1,690.40. MercadoLibre, Inc. has a one year low of $1,141.04 and a one year high of $2,157.64. The company has a market capitalization of $106.65 billion, a P/E ratio of 94.13, a P/E/G ratio of 1.33 and a beta of 1.61. 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 (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, August 1st. The company reported $10.48 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 analysts’ expectations of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The business’s revenue was up 41.5% on a year-over-year basis. During the same period last year, the company posted $5.16 EPS. As a group, equities analysts predict that MercadoLibre, Inc. will post 35.22 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MELI. Morgan Stanley boosted 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. Citigroup lifted their target price on shares of MercadoLibre from $2,000.00 to $2,200.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. New Street Research downgraded MercadoLibre from a “buy” rating to a “neutral” rating in a research report on Friday, May 24th. Cantor Fitzgerald started coverage on MercadoLibre in a research report on Thursday, September 5th. They set an “overweight” rating and a $2,530.00 target price for the company. Finally, BTIG Research boosted their price target on MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, MercadoLibre has an average rating of “Moderate Buy” and a consensus target price of $2,207.31.

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.