Marietta Investment Partners LLC Lowers Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Marietta Investment Partners LLC decreased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 0.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,547 shares of the company’s stock after selling 29 shares during the period. MercadoLibre makes up approximately 1.3% of Marietta Investment Partners LLC’s holdings, making the stock its 28th largest holding. Marietta Investment Partners LLC’s holdings in MercadoLibre were worth $5,829,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. First PREMIER Bank bought a new position in shares of MercadoLibre during the first quarter valued at about $27,000. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of MercadoLibre by 1,600.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after buying an additional 16 shares during the last quarter. DSM Capital Partners LLC bought a new position in shares of MercadoLibre during the fourth quarter valued at about $36,000. Scarborough Advisors LLC bought a new position in shares of MercadoLibre during the fourth quarter valued at about $36,000. Finally, Financial Connections Group Inc. bought a new position in shares of MercadoLibre during the second quarter valued at about $36,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

MELI has been the topic of a number of recent research reports. Citigroup raised their price objective 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. Susquehanna raised their target price on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research note on Wednesday, August 28th. Dbs Bank raised MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. Morgan Stanley raised their target price on MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, BTIG Research raised 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 analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, MercadoLibre presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,207.31.

MercadoLibre Stock Performance

MercadoLibre stock opened at $2,103.75 on Monday. The stock’s 50 day simple moving average is $1,899.17 and its two-hundred day simple moving average is $1,692.71. 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 stock has a market cap of $106.65 billion, a price-to-earnings ratio of 94.13, a PEG ratio of 1.33 and a beta of 1.61. MercadoLibre, Inc. has a fifty-two week low of $1,141.04 and a fifty-two week high of $2,157.64.

MercadoLibre (NASDAQ:MELI) last released its 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. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The firm had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same period last year, the business earned $5.16 earnings per share. The business’s revenue was up 41.5% on a year-over-year basis. As a group, analysts expect that MercadoLibre, Inc. will post 35.22 earnings per share for the current fiscal year.

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.