BNP Paribas Sells 1,378 Shares of MercadoLibre, Inc. $MELI

BNP Paribas decreased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 23.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,442 shares of the company’s stock after selling 1,378 shares during the period. BNP Paribas’ holdings in MercadoLibre were worth $11,608,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in MercadoLibre during the second quarter valued at about $698,848,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of MercadoLibre by 21.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company’s stock worth $1,073,823,000 after buying an additional 96,283 shares during the period. GQG Partners LLC lifted its position in shares of 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. Jennison Associates LLC grew its stake in shares of MercadoLibre by 7.0% during the 2nd quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock valued at $3,228,460,000 after acquiring an additional 81,124 shares during the period. Finally, Massachusetts Financial Services Co. MA purchased a new stake in MercadoLibre in the 2nd quarter worth approximately $198,244,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $1,970.73 on Thursday. The firm has a market cap of $99.92 billion, a price-to-earnings ratio of 48.09, a P/E/G ratio of 1.49 and a beta of 1.42. The firm has a fifty day moving average price of $2,128.81 and a 200 day moving average price of $2,322.08. MercadoLibre, Inc. has a fifty-two week low of $1,646.00 and a fifty-two week high of $2,645.22. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.15 and a current ratio of 1.17.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $8.32 EPS for the quarter, missing the consensus estimate of $9.88 by ($1.56). MercadoLibre had a return on equity of 39.03% and a net margin of 7.93%.The company had revenue of $7.41 billion during the quarter, compared to analysts’ expectations of $7.19 billion. During the same quarter in the previous year, the firm earned $7.83 EPS. The firm’s revenue for the quarter was up 39.5% compared to the same quarter last year. As a group, sell-side analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MELI. Benchmark lowered their price target on shares of MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. UBS Group decreased their price objective on shares of MercadoLibre from $3,000.00 to $2,900.00 and set a “buy” rating on the stock in a research report on Monday, November 24th. BTIG Research restated a “buy” rating and set a $2,750.00 target price on shares of MercadoLibre in a research note on Thursday, December 4th. Cantor Fitzgerald cut their price target on MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating for the company in a research note on Thursday, October 30th. Finally, Dbs Bank upgraded MercadoLibre from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, December 2nd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, MercadoLibre presently has an average rating of “Moderate Buy” and an average price target of $2,848.82.

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.