MercadoLibre, Inc. $MELI Shares Sold by Fiduciary Financial Group LLC

Fiduciary Financial Group LLC cut its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 356 shares of the company’s stock after selling 5 shares during the quarter. Fiduciary Financial Group LLC’s holdings in MercadoLibre were worth $890,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Bank Pictet & Cie Europe AG acquired a new stake in shares of MercadoLibre in the 4th quarter worth approximately $561,000. Bison Wealth LLC purchased a new position in shares of MercadoLibre in the fourth quarter valued at $206,000. Focus Partners Wealth raised its stake in shares of MercadoLibre by 25.1% during the 4th quarter. Focus Partners Wealth now owns 424 shares of the company’s stock worth $721,000 after buying an additional 85 shares during the last quarter. Nuveen Asset Management LLC raised its stake in shares of MercadoLibre by 5.7% during the 4th quarter. Nuveen Asset Management LLC now owns 64,081 shares of the company’s stock worth $108,966,000 after buying an additional 3,449 shares during the last quarter. Finally, NorthRock Partners LLC purchased a new stake in shares of MercadoLibre in the 4th quarter worth about $372,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

MELI has been the topic of a number of analyst reports. Raymond James Financial reiterated a “strong-buy” rating and set a $2,750.00 target price on shares of MercadoLibre in a report on Tuesday, August 5th. Barclays decreased their price target on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 23rd. Wall Street Zen lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Sunday, June 22nd. JPMorgan Chase & Co. lifted their target price on shares of MercadoLibre from $2,600.00 to $2,700.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Finally, Scotiabank assumed coverage on MercadoLibre in a research note on Monday, July 28th. They set a “sector outperform” rating and a $3,500.00 price target on the stock. One 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,817.22.

MercadoLibre Stock Performance

MercadoLibre stock opened at $2,339.36 on Friday. The firm has a market capitalization of $118.61 billion, a PE ratio of 57.78, a price-to-earnings-growth ratio of 1.52 and a beta of 1.49. MercadoLibre, Inc. has a one year low of $1,646.00 and a one year high of $2,645.22. The stock’s 50 day moving average price is $2,384.98 and its 200 day moving average price is $2,306.08. 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 (NASDAQ:MELI) last posted its quarterly earnings data on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $12.01 by ($1.70). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The business had revenue of $6.79 billion for the quarter, compared to analysts’ expectations of $6.57 billion. During the same quarter in the prior year, the firm earned $10.48 earnings per share. MercadoLibre’s revenue for the quarter was up 33.8% compared to the same quarter last year. As a group, sell-side analysts expect that MercadoLibre, Inc. will post 43.96 EPS 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.