American Century Companies Inc. Sells 14,009 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

American Century Companies Inc. decreased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 8.8% during the first quarter, HoldingsChannel.com reports. The firm owned 144,931 shares of the company’s stock after selling 14,009 shares during the quarter. American Century Companies Inc.’s holdings in MercadoLibre were worth $282,742,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Key Financial Inc purchased a new stake in shares of MercadoLibre during the 1st quarter valued at about $25,000. GW&K Investment Management LLC purchased a new stake in MercadoLibre in the 1st quarter worth approximately $25,000. Park Square Financial Group LLC purchased a new stake in MercadoLibre in the 4th quarter worth approximately $26,000. Close Asset Management Ltd boosted its stake in MercadoLibre by 366.7% in the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock worth $27,000 after purchasing an additional 11 shares during the period. Finally, Heck Capital Advisors LLC bought a new position in MercadoLibre in the 4th quarter worth approximately $32,000. Institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. JPMorgan Chase & Co. increased their target price on MercadoLibre from $2,600.00 to $2,700.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Morgan Stanley restated an “overweight” rating on shares of MercadoLibre in a research report on Thursday, May 1st. Daiwa Capital Markets initiated coverage on MercadoLibre in a research note on Friday, August 1st. They set a “buy” rating and a $3,000.00 price objective on the stock. UBS Group set a $3,000.00 price target on MercadoLibre in a research note on Monday, June 2nd. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $2,750.00 price target on shares of MercadoLibre in a research note on Tuesday, August 5th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, MercadoLibre presently has an average rating of “Moderate Buy” and an average price target of $2,795.00.

MercadoLibre Price Performance

Shares of MercadoLibre stock opened at $2,319.80 on Friday. MercadoLibre, Inc. has a twelve month low of $1,646.00 and a twelve month high of $2,645.22. The stock has a market capitalization of $117.61 billion, a P/E ratio of 57.29, a PEG ratio of 1.48 and a beta of 1.46. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. The business’s fifty day moving average price is $2,416.37 and its 200 day moving average price is $2,255.38.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing analysts’ consensus estimates of $12.01 by ($1.70). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%. The company had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.57 billion. During the same quarter in the prior year, the firm earned $10.48 EPS. The company’s revenue for the quarter was up 33.8% compared to the same quarter last year. As a group, research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current 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.