Metis Global Partners LLC Trims Stake in MercadoLibre, Inc. $MELI

Metis Global Partners LLC lessened its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 15.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,448 shares of the company’s stock after selling 261 shares during the period. Metis Global Partners LLC’s holdings in MercadoLibre were worth $3,785,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in MELI. Ninety One North America Inc. lifted its position in shares of MercadoLibre by 21.5% in the second quarter. Ninety One North America Inc. now owns 6,094 shares of the company’s stock valued at $15,927,000 after acquiring an additional 1,080 shares in the last quarter. Banco Santander S.A. raised its stake in MercadoLibre by 221.9% in the 1st quarter. Banco Santander S.A. now owns 2,746 shares of the company’s stock valued at $5,357,000 after purchasing an additional 1,893 shares during the last quarter. Resona Asset Management Co. Ltd. lifted its holdings in MercadoLibre by 4.0% in the 2nd quarter. Resona Asset Management Co. Ltd. now owns 15,308 shares of the company’s stock valued at $39,900,000 after purchasing an additional 585 shares in the last quarter. Jennison Associates LLC boosted its stake in MercadoLibre by 7.0% during the 2nd quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock worth $3,228,460,000 after purchasing an additional 81,124 shares during the last quarter. Finally, Costello Asset Management INC grew its holdings in shares of MercadoLibre by 434.3% during the second quarter. Costello Asset Management INC now owns 577 shares of the company’s stock worth $1,509,000 after buying an additional 469 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Price Performance

MELI stock opened at $2,108.60 on Friday. The business has a fifty day moving average of $2,290.36 and a two-hundred day moving average of $2,377.50. 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 stock has a market cap of $106.90 billion, a price-to-earnings ratio of 51.45, a price-to-earnings-growth ratio of 1.56 and a beta of 1.51. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week high of $2,645.22.

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). The business had revenue of $7.41 billion during the quarter, compared to analyst estimates of $7.19 billion. MercadoLibre had a net margin of 7.93% and a return on equity of 41.35%. The business’s revenue for the quarter was up 39.5% on a year-over-year basis. During the same period last year, the company earned $7.83 EPS. As a group, research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on MELI shares. JPMorgan Chase & Co. boosted their price target on shares of MercadoLibre from $2,600.00 to $2,650.00 and gave the stock a “neutral” rating in a research report on Monday, November 3rd. Weiss Ratings restated a “buy (b-)” rating on shares of MercadoLibre in a research report on Friday, October 31st. Barclays increased their price target on MercadoLibre from $2,800.00 to $2,900.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Benchmark lowered their price objective on MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating on the stock in a research note on Thursday, October 30th. Finally, Citigroup cut their target price on MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating for the company in a research note on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $2,861.25.

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.