First Republic Investment Management Inc. reduced its holdings in Mercadolibre Inc (NASDAQ:MELI) by 22.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 766 shares of the company’s stock after selling 226 shares during the period. First Republic Investment Management Inc.’s holdings in Mercadolibre were worth $469,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also modified their holdings of the business. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Mercadolibre by 21.6% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 2,962 shares of the company’s stock worth $1,504,000 after acquiring an additional 526 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Mercadolibre by 32.8% in the 2nd quarter. Janney Montgomery Scott LLC now owns 2,693 shares of the company’s stock worth $1,648,000 after acquiring an additional 665 shares during the last quarter. Cedar Capital LLC lifted its holdings in shares of Mercadolibre by 17.3% in the 2nd quarter. Cedar Capital LLC now owns 1,779 shares of the company’s stock worth $1,088,000 after acquiring an additional 263 shares during the last quarter. JGP Global Gestao de Recursos Ltda. lifted its holdings in shares of Mercadolibre by 24.1% in the 2nd quarter. JGP Global Gestao de Recursos Ltda. now owns 37,360 shares of the company’s stock worth $22,856,000 after acquiring an additional 7,260 shares during the last quarter. Finally, Westpac Banking Corp lifted its holdings in shares of Mercadolibre by 38.4% in the 1st quarter. Westpac Banking Corp now owns 34,944 shares of the company’s stock worth $17,742,000 after acquiring an additional 9,695 shares during the last quarter. 83.69% of the stock is owned by institutional investors and hedge funds.
MELI traded down $4.90 on Friday, reaching $566.83. 414,002 shares of the company traded hands, compared to its average volume of 592,092. Mercadolibre Inc has a one year low of $257.52 and a one year high of $698.98. The company has a quick ratio of 2.53, a current ratio of 2.54 and a debt-to-equity ratio of 0.36. The company has a market cap of $27.30 billion, a P/E ratio of -691.26 and a beta of 1.71. The firm has a fifty day simple moving average of $615.85 and a two-hundred day simple moving average of $564.68.
Mercadolibre (NASDAQ:MELI) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.28 by $0.03. Mercadolibre had a net margin of 0.87% and a return on equity of 1.24%. The business had revenue of $545.24 million during the quarter, compared to analyst estimates of $507.68 million. During the same quarter in the previous year, the business posted ($0.25) EPS. The company’s quarterly revenue was up 62.6% compared to the same quarter last year. On average, equities analysts forecast that Mercadolibre Inc will post 0.58 earnings per share for the current year.
MELI has been the subject of several analyst reports. Goldman Sachs Group set a $713.00 target price on shares of Mercadolibre and gave the stock a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. upgraded shares of Mercadolibre from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $563.00 to $750.00 in a report on Tuesday, August 13th. BidaskClub lowered shares of Mercadolibre from a “buy” rating to a “hold” rating in a report on Wednesday. HSBC upgraded shares of Mercadolibre from a “hold” rating to a “buy” rating and raised their target price for the stock from $575.00 to $800.00 in a report on Monday. Finally, Piper Jaffray Companies lifted their price objective on shares of Mercadolibre from $584.00 to $675.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, five have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $665.69.
MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, 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, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.
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