Belpointe Asset Management LLC Reduces Position in MercadoLibre, Inc. $MELI

Belpointe Asset Management LLC trimmed its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 4.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 602 shares of the company’s stock after selling 29 shares during the quarter. Belpointe Asset Management LLC’s holdings in MercadoLibre were worth $1,573,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of MELI. Assenagon Asset Management S.A. lifted its position in shares of MercadoLibre by 170.9% during the first quarter. Assenagon Asset Management S.A. now owns 274,960 shares of the company’s stock worth $536,411,000 after purchasing an additional 173,449 shares during the last quarter. Invesco Ltd. increased its stake in MercadoLibre by 22.4% in the 1st quarter. Invesco Ltd. now owns 570,967 shares of the company’s stock worth $1,113,881,000 after buying an additional 104,554 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in MercadoLibre by 21.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company’s stock valued at $1,073,823,000 after buying an additional 96,283 shares in the last quarter. GQG Partners LLC lifted its holdings in MercadoLibre by 23.5% during the 1st quarter. GQG Partners LLC now owns 461,875 shares of the company’s stock valued at $901,058,000 after buying an additional 87,912 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in MercadoLibre in the 1st quarter valued at about $143,367,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Down 0.9%

MELI opened at $2,154.22 on Tuesday. The firm has a market cap of $109.22 billion, a price-to-earnings ratio of 53.20, a PEG ratio of 1.45 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. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22. The stock has a fifty day moving average price of $2,378.30 and a 200-day moving average price of $2,345.89.

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

Wall Street Analyst Weigh In

MELI has been the topic of a number of research reports. Cantor Fitzgerald raised their target price on shares of MercadoLibre from $2,700.00 to $2,900.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 24th. Barclays reduced their price objective on MercadoLibre from $3,100.00 to $3,000.00 and set an “overweight” rating on the stock in a report on Wednesday, July 23rd. Benchmark reiterated a “buy” rating and issued a $2,875.00 target price on shares of MercadoLibre in a report on Tuesday, August 5th. Jefferies Financial Group restated a “hold” rating and set a $2,800.00 price target on shares of MercadoLibre in a research note on Tuesday, August 5th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of MercadoLibre in a report on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $2,822.78.

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.