MercadoLibre, Inc. (NASDAQ:MELI) Stake Reduced by Squadra Investments Gestao DE Recursos LTDA.

Squadra Investments Gestao DE Recursos LTDA. lessened its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 67.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 53,904 shares of the company’s stock after selling 111,885 shares during the period. MercadoLibre makes up 18.4% of Squadra Investments Gestao DE Recursos LTDA.’s investment portfolio, making the stock its 3rd largest position. Squadra Investments Gestao DE Recursos LTDA. owned 0.11% of MercadoLibre worth $88,586,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on MELI shares. StockNews.com downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Citigroup upped their price target on MercadoLibre from $2,000.00 to $2,200.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Dbs Bank upgraded MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. JPMorgan Chase & Co. boosted their price objective on MercadoLibre from $2,150.00 to $2,400.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Finally, Barclays raised their target price on shares of MercadoLibre from $2,000.00 to $2,100.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. Two research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $2,207.31.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $2,102.63 on Tuesday. MercadoLibre, Inc. has a 12 month low of $1,141.04 and a 12 month high of $2,157.64. 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 debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26. The company’s fifty day moving average price is $1,906.34 and its 200 day moving average price is $1,696.74.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.53 by $1.95. The firm had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.64 billion. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The business’s revenue was up 41.5% on a year-over-year basis. During the same period in the prior year, the firm earned $5.16 EPS. As a group, sell-side analysts predict 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.