MercadoLibre, Inc. (NASDAQ:MELI) Holdings Decreased by Mount Yale Investment Advisors LLC

Mount Yale Investment Advisors LLC decreased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 35.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,672 shares of the company’s stock after selling 906 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in MercadoLibre were worth $2,748,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Raymond James & Associates boosted its position in MercadoLibre by 4.8% during the second quarter. Raymond James & Associates now owns 34,840 shares of the company’s stock valued at $57,256,000 after purchasing an additional 1,604 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in MercadoLibre by 20.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,642 shares of the company’s stock valued at $41,794,000 after purchasing an additional 4,658 shares during the last quarter. Gulf International Bank UK Ltd boosted its position in MercadoLibre by 33.4% during the first quarter. Gulf International Bank UK Ltd now owns 4,960 shares of the company’s stock valued at $7,499,000 after purchasing an additional 1,241 shares during the last quarter. Caprock Group LLC boosted its position in MercadoLibre by 143.7% during the second quarter. Caprock Group LLC now owns 580 shares of the company’s stock valued at $955,000 after purchasing an additional 342 shares during the last quarter. Finally, Sarasin & Partners LLP boosted its position in MercadoLibre by 168.5% during the second quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock valued at $74,622,000 after purchasing an additional 28,494 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Down 0.3 %

MercadoLibre stock opened at $2,103.75 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. The business’s 50-day simple moving average is $1,899.17 and its 200-day simple moving average is $1,691.54. The firm has a market capitalization of $106.65 billion, a PE ratio of 94.13, a PEG ratio of 1.33 and a beta of 1.61. MercadoLibre, Inc. has a 52 week low of $1,141.04 and a 52 week high of $2,157.64.

MercadoLibre (NASDAQ:MELI) last posted 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 for the quarter, compared to analyst estimates of $4.64 billion. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The firm’s revenue for the quarter was up 41.5% on a year-over-year basis. During the same period in the previous year, the company posted $5.16 earnings per share. Equities research analysts forecast that MercadoLibre, Inc. will post 35.22 earnings per share for the current year.

Analysts Set New Price Targets

MELI has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their price objective on MercadoLibre from $2,150.00 to $2,400.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Susquehanna lifted their price objective 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. Bank of America lifted their price objective on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Morgan Stanley boosted their price target on MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Barclays boosted their price target on MercadoLibre from $2,000.00 to $2,100.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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.