Zhang Financial LLC Trims Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Zhang Financial LLC cut its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 2.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 686 shares of the company’s stock after selling 20 shares during the period. Zhang Financial LLC’s holdings in MercadoLibre were worth $1,408,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raymond James & Associates grew its position in MercadoLibre by 4.8% in the second quarter. Raymond James & Associates now owns 34,840 shares of the company’s stock worth $57,256,000 after acquiring an additional 1,604 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in MercadoLibre by 20.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,642 shares of the company’s stock worth $41,794,000 after acquiring an additional 4,658 shares in the last quarter. Gulf International Bank UK Ltd grew its position in MercadoLibre by 33.4% in the first quarter. Gulf International Bank UK Ltd now owns 4,960 shares of the company’s stock worth $7,499,000 after acquiring an additional 1,241 shares in the last quarter. Caprock Group LLC grew its position in MercadoLibre by 143.7% in the second quarter. Caprock Group LLC now owns 580 shares of the company’s stock worth $955,000 after acquiring an additional 342 shares in the last quarter. Finally, Sarasin & Partners LLP grew its position in MercadoLibre by 168.5% in the second quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock worth $74,622,000 after acquiring an additional 28,494 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MELI has been the subject of several research reports. BTIG Research upped their target price on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Barclays upped their price target on shares of MercadoLibre from $2,100.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. JPMorgan Chase & Co. lowered shares of MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 price target for the company. in a research report on Wednesday, October 2nd. Finally, The Goldman Sachs Group upped their price target on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,283.00.

MercadoLibre Stock Down 0.8 %

Shares of NASDAQ MELI traded down $17.04 during mid-day trading on Tuesday, hitting $2,062.92. 117,756 shares of the stock traded hands, compared to its average volume of 350,872. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. MercadoLibre, Inc. has a 52 week low of $1,141.04 and a 52 week high of $2,161.73. The company has a market cap of $104.58 billion, a price-to-earnings ratio of 92.24, a PEG ratio of 1.25 and a beta of 1.61. The stock has a fifty day moving average price of $2,018.64 and a 200-day moving average price of $1,750.46.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.53 by $1.95. The firm had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.64 billion. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The company’s quarterly revenue was up 41.5% on a year-over-year basis. During the same period in the prior year, the company posted $5.16 earnings per share. Research analysts anticipate that MercadoLibre, Inc. will post 37.55 EPS for the current year.

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.