Brookwood Investment Group LLC Sells 9 Shares of MercadoLibre, Inc. $MELI

Brookwood Investment Group LLC cut its position in MercadoLibre, Inc. (NASDAQ:MELI) by 6.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 136 shares of the company’s stock after selling 9 shares during the period. Brookwood Investment Group LLC’s holdings in MercadoLibre were worth $355,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Jennison Associates LLC raised its position in shares of MercadoLibre by 1.6% during the first quarter. Jennison Associates LLC now owns 1,154,116 shares of the company’s stock worth $2,251,531,000 after acquiring an additional 18,731 shares during the last quarter. Invesco Ltd. raised its position in shares of MercadoLibre by 22.4% during the first quarter. Invesco Ltd. now owns 570,967 shares of the company’s stock worth $1,113,881,000 after acquiring an additional 104,554 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of MercadoLibre by 21.2% during 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 acquiring an additional 96,283 shares during the last quarter. Generation Investment Management LLP raised its position in shares of MercadoLibre by 3.3% during the first quarter. Generation Investment Management LLP now owns 530,564 shares of the company’s stock worth $1,035,061,000 after acquiring an additional 16,878 shares during the last quarter. Finally, GQG Partners LLC raised its position in shares of MercadoLibre by 23.5% during the first quarter. GQG Partners LLC now owns 461,875 shares of the company’s stock worth $901,058,000 after acquiring an additional 87,912 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Susquehanna lowered their price objective on MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating for the company in a research report on Monday, October 13th. Citigroup lowered their target price on MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating for the company in a report on Thursday, October 9th. Scotiabank assumed coverage on MercadoLibre in a report on Monday, July 28th. They issued a “sector outperform” rating and a $3,500.00 target price for the company. Daiwa Capital Markets assumed coverage on MercadoLibre in a report on Friday, August 1st. They issued a “buy” rating and a $3,000.00 target price for the company. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of MercadoLibre in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,799.12.

MercadoLibre Trading Up 0.3%

Shares of MercadoLibre stock opened at $2,290.14 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22. The stock has a 50 day moving average price of $2,312.95 and a two-hundred day moving average price of $2,366.69. The stock has a market capitalization of $116.11 billion, a PE ratio of 56.56, a price-to-earnings-growth ratio of 1.55 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI) last announced 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 net margin of 8.52% and a return on equity of 43.06%. The firm had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.57 billion. During the same period last year, the business posted $10.48 EPS. The company’s revenue was up 33.8% on a year-over-year basis. As a group, equities analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

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.