MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC cut its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 20.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,478 shares of the company’s stock after selling 373 shares during the quarter. Park Avenue Securities LLC’s holdings in MercadoLibre were worth $3,033,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Oppenheimer & Co. Inc. lifted its position in MercadoLibre by 15.8% in the 4th quarter. Oppenheimer & Co. Inc. now owns 937 shares of the company’s stock valued at $1,473,000 after purchasing an additional 128 shares during the last quarter. Cetera Advisor Networks LLC increased its stake in shares of MercadoLibre by 3.5% in the fourth quarter. Cetera Advisor Networks LLC now owns 3,225 shares of the company’s stock valued at $5,068,000 after purchasing an additional 108 shares during the period. Northern Trust Corp raised its holdings in shares of MercadoLibre by 5.5% during the fourth quarter. Northern Trust Corp now owns 176,106 shares of the company’s stock valued at $276,758,000 after buying an additional 9,167 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of MercadoLibre by 27.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 68,229 shares of the company’s stock worth $107,224,000 after buying an additional 14,675 shares during the period. Finally, Morningstar Investment Services LLC boosted its position in shares of MercadoLibre by 113.6% during the fourth quarter. Morningstar Investment Services LLC now owns 440 shares of the company’s stock worth $696,000 after buying an additional 234 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Stock Up 0.0 %

MELI opened at $1,960.00 on Friday. The company has a market capitalization of $99.37 billion, a PE ratio of 87.70, a price-to-earnings-growth ratio of 1.34 and a beta of 1.61. The business has a 50-day moving average of $1,975.39 and a 200-day moving average of $1,728.02. MercadoLibre, Inc. has a fifty-two week low of $1,141.04 and a fifty-two week high of $2,161.73. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, August 1st. The company reported $10.48 EPS 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 company had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same quarter in the prior year, the business posted $5.16 EPS. MercadoLibre’s quarterly revenue was up 41.5% on a year-over-year basis. Equities research analysts forecast that MercadoLibre, Inc. will post 35.79 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. downgraded shares of MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 price objective for the company. in a report on Wednesday. Barclays increased their price objective on shares of MercadoLibre from $2,100.00 to $2,500.00 and gave the company an “overweight” rating in a report on Wednesday. Morgan Stanley boosted their target price on MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. StockNews.com lowered MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Finally, Citigroup boosted their price objective on MercadoLibre from $2,000.00 to $2,200.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $2,246.07.

MercadoLibre Company Profile

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.