STF Management LP Trims Stake in MercadoLibre, Inc. (NASDAQ:MELI)

STF Management LP trimmed its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 4.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 821 shares of the company’s stock after selling 36 shares during the quarter. STF Management LP’s holdings in MercadoLibre were worth $1,349,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. First PREMIER Bank bought a new position in MercadoLibre in the first quarter worth $27,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in MercadoLibre by 1,600.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after acquiring an additional 16 shares during the period. DSM Capital Partners LLC bought a new stake in MercadoLibre during the fourth quarter worth about $36,000. Scarborough Advisors LLC purchased a new stake in MercadoLibre in the fourth quarter worth about $36,000. Finally, Financial Connections Group Inc. purchased a new stake in MercadoLibre in the second quarter worth about $36,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $2,122.37 on Monday. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $107.60 billion, a PE ratio of 94.96, a price-to-earnings-growth ratio of 1.33 and a beta of 1.61. The firm’s 50 day moving average price is $1,860.84 and its 200-day moving average price is $1,673.87. MercadoLibre, Inc. has a twelve month low of $1,141.04 and a twelve month high of $2,143.96.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, topping the consensus estimate of $8.53 by $1.95. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The business had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter last year, the company posted $5.16 EPS. The company’s revenue was up 41.5% compared to the same quarter last year. Equities research analysts expect that MercadoLibre, Inc. will post 35.22 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on MELI shares. StockNews.com lowered MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Bank of America lifted their price target on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research report on Thursday. Barclays increased their price objective on shares of MercadoLibre from $2,000.00 to $2,100.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Citigroup lifted their target price on shares of MercadoLibre from $2,000.00 to $2,200.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Finally, Jefferies Financial Group upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and increased their price target for the company from $1,400.00 to $2,100.00 in a report on Monday, May 20th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $2,182.92.

MercadoLibre Company 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.