Groupe la Francaise Sells 2,457 Shares of MercadoLibre, Inc. $MELI

Groupe la Francaise cut its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 15.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 13,126 shares of the company’s stock after selling 2,457 shares during the period. Groupe la Francaise’s holdings in MercadoLibre were worth $34,155,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of MELI. Brooklyn Investment Group grew its stake in MercadoLibre by 650.0% in the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock valued at $29,000 after buying an additional 13 shares during the last quarter. Twin Tree Management LP acquired a new stake in MercadoLibre during the first quarter worth approximately $29,000. Saudi Central Bank bought a new stake in shares of MercadoLibre during the first quarter worth approximately $35,000. McIlrath & Eck LLC grew its position in shares of MercadoLibre by 375.0% in the first quarter. McIlrath & Eck LLC now owns 19 shares of the company’s stock valued at $37,000 after purchasing an additional 15 shares during the last quarter. Finally, Highline Wealth Partners LLC increased its stake in shares of MercadoLibre by 366.7% during the second quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock worth $37,000 after purchasing an additional 11 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Up 2.5%

MELI stock opened at $2,115.91 on Wednesday. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22. The business has a 50-day simple moving average of $2,169.36 and a 200 day simple moving average of $2,341.35. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. The company has a market cap of $107.27 billion, a PE ratio of 51.63, a price-to-earnings-growth ratio of 1.56 and a beta of 1.42.

MercadoLibre (NASDAQ:MELI) last released its 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). The firm had revenue of $7.41 billion during the quarter, compared to the consensus estimate of $7.19 billion. MercadoLibre had a net margin of 7.93% and a return on equity of 41.35%. MercadoLibre’s quarterly revenue was up 39.5% compared to the same quarter last year. During the same period in the prior year, the business earned $7.83 earnings per share. Sell-side analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MELI has been the subject of several recent research reports. Raymond James Financial restated a “strong-buy” rating and issued a $2,750.00 price target on shares of MercadoLibre in a research note on Tuesday, August 5th. Cantor Fitzgerald dropped their target price on MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. Zacks Research upgraded shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 26th. Citigroup lowered their price target on shares of MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating on the stock in a research report on Thursday, October 9th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of MercadoLibre from $2,600.00 to $2,650.00 and gave the company a “neutral” rating in a report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $2,848.82.

MercadoLibre 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.