Edgestream Partners L.P. Cuts Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Edgestream Partners L.P. reduced its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 62.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 138 shares of the company’s stock after selling 232 shares during the quarter. Edgestream Partners L.P.’s holdings in MercadoLibre were worth $227,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in MELI. O Dell Group LLC grew its position in MercadoLibre by 2.1% during the 1st quarter. O Dell Group LLC now owns 294 shares of the company’s stock valued at $445,000 after purchasing an additional 6 shares during the last quarter. Belpointe Asset Management LLC raised its stake in MercadoLibre by 1.0% during the second quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock valued at $1,016,000 after purchasing an additional 6 shares in the last quarter. Hilltop National Bank raised its stake in MercadoLibre by 14.3% during the second quarter. Hilltop National Bank now owns 56 shares of the company’s stock valued at $92,000 after purchasing an additional 7 shares in the last quarter. Contravisory Investment Management Inc. raised its stake in MercadoLibre by 5.1% during the second quarter. Contravisory Investment Management Inc. now owns 143 shares of the company’s stock valued at $235,000 after purchasing an additional 7 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in MercadoLibre by 0.9% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 752 shares of the company’s stock valued at $1,294,000 after purchasing an additional 7 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Stock Down 0.1 %

Shares of MELI opened at $2,102.63 on Tuesday. MercadoLibre, Inc. has a 52 week low of $1,141.04 and a 52 week high of $2,157.64. 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 firm has a market capitalization of $106.60 billion, a P/E ratio of 94.08, a P/E/G ratio of 1.33 and a beta of 1.61. The company has a 50-day simple moving average of $1,906.34 and a 200-day simple moving average of $1,696.74.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $4.64 billion. During the same period in the prior year, the firm earned $5.16 earnings per share. The company’s quarterly revenue was up 41.5% compared to the same quarter last year. On average, equities research analysts expect that MercadoLibre, Inc. will post 35.22 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on MELI. Cantor Fitzgerald restated an “overweight” rating and issued a $2,530.00 price target on shares of MercadoLibre in a report on Monday. Susquehanna increased their price target on shares of 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 increased their price objective on shares of MercadoLibre from $2,175.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Friday. BTIG Research increased their price objective on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Finally, Barclays increased their price target on shares of MercadoLibre from $2,000.00 to $2,100.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, MercadoLibre currently 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.