B & T Capital Management DBA Alpha Capital Management Sells 507 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

B & T Capital Management DBA Alpha Capital Management reduced its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 10.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,490 shares of the company’s stock after selling 507 shares during the period. MercadoLibre accounts for approximately 1.7% of B & T Capital Management DBA Alpha Capital Management’s holdings, making the stock its 14th biggest position. B & T Capital Management DBA Alpha Capital Management’s holdings in MercadoLibre were worth $9,213,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. O Dell Group LLC boosted its holdings in shares of MercadoLibre by 2.1% during the 1st quarter. O Dell Group LLC now owns 294 shares of the company’s stock worth $445,000 after buying an additional 6 shares during the period. Belpointe Asset Management LLC boosted its holdings in MercadoLibre by 1.0% in the 2nd 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 during the period. Ameritas Investment Partners Inc. boosted its holdings in MercadoLibre by 0.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company’s stock valued at $2,419,000 after purchasing an additional 6 shares during the period. Evolutionary Tree Capital Management LLC boosted its holdings in MercadoLibre by 0.3% in the 2nd quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company’s stock valued at $3,403,000 after purchasing an additional 6 shares during the period. Finally, Hilltop National Bank boosted its holdings in MercadoLibre by 14.3% in the 2nd quarter. Hilltop National Bank now owns 56 shares of the company’s stock valued at $92,000 after purchasing an additional 7 shares during the period. 87.62% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MELI. Bank of America increased their price target on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a report on Thursday, September 12th. StockNews.com downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. BTIG Research increased their price target on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. 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 research note on Wednesday, October 2nd. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $2,530.00 price objective on shares of MercadoLibre in a research note on Monday. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, MercadoLibre currently has an average rating of “Moderate Buy” and an average target price of $2,246.07.

MercadoLibre Price Performance

Shares of MercadoLibre stock traded up $9.13 during mid-day trading on Thursday, reaching $2,057.12. 80,953 shares of the stock were exchanged, compared to its average volume of 352,269. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. The company has a market cap of $104.29 billion, a price-to-earnings ratio of 90.96, a price-to-earnings-growth ratio of 1.34 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 $2,161.73. The firm has a 50-day simple moving average of $1,997.57 and a 200 day simple moving average of $1,737.60.

MercadoLibre (NASDAQ:MELI) last issued 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. The company had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The company’s revenue for the quarter was up 41.5% on a year-over-year basis. During the same quarter last year, the firm earned $5.16 EPS. On average, sell-side analysts predict that MercadoLibre, Inc. will post 35.79 EPS for the current fiscal year.

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.