PFG Investments LLC Sells 5 Shares of MercadoLibre, Inc. $MELI

PFG Investments LLC cut its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 334 shares of the company’s stock after selling 5 shares during the period. PFG Investments LLC’s holdings in MercadoLibre were worth $873,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Bison Wealth LLC acquired a new stake in shares of MercadoLibre during the fourth quarter worth about $206,000. Rhumbline Advisers raised its holdings in MercadoLibre by 4.4% during the 1st quarter. Rhumbline Advisers now owns 10,365 shares of the company’s stock worth $20,221,000 after buying an additional 437 shares during the period. NBC Securities Inc. bought a new position in MercadoLibre in the first quarter valued at approximately $72,000. Merit Financial Group LLC lifted its stake in MercadoLibre by 7.7% in the first quarter. Merit Financial Group LLC now owns 757 shares of the company’s stock valued at $1,477,000 after buying an additional 54 shares in the last quarter. Finally, Portside Wealth Group LLC boosted its holdings in shares of MercadoLibre by 22.3% in the first quarter. Portside Wealth Group LLC now owns 274 shares of the company’s stock valued at $535,000 after buying an additional 50 shares during the period. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Stock Performance

Shares of NASDAQ MELI opened at $2,246.60 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. The stock has a 50 day moving average price of $2,386.09 and a 200 day moving average price of $2,340.46. The stock has a market capitalization of $113.90 billion, a PE ratio of 55.49, a price-to-earnings-growth ratio of 1.42 and a beta of 1.46. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Monday, August 4th. The company reported $10.31 earnings per share 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 company had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.57 billion. During the same quarter in the prior year, the business earned $10.48 earnings per share. The firm’s revenue for the quarter was up 33.8% compared to the same quarter last year. Analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MELI has been the topic of a number of research analyst reports. Wall Street Zen lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Sunday, June 22nd. Wedbush set a $2,700.00 target price on MercadoLibre and gave the stock an “outperform” rating in a report on Tuesday, August 5th. Citigroup cut their price target on MercadoLibre from $2,900.00 to $2,850.00 and set a “buy” rating on the stock in a report on Monday, August 18th. Barclays reduced their price objective on MercadoLibre from $3,100.00 to $3,000.00 and set an “overweight” rating for the company in a research report on Wednesday, July 23rd. Finally, Daiwa Capital Markets started coverage on MercadoLibre in a research note on Friday, August 1st. They issued a “buy” rating and a $3,000.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, MercadoLibre has an average rating of “Moderate Buy” and an average target price of $2,828.33.

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.