Krane Funds Advisors LLC Reduces Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Krane Funds Advisors LLC decreased its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 30.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 176 shares of the company’s stock after selling 76 shares during the period. Krane Funds Advisors LLC’s holdings in MercadoLibre were worth $361,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in MercadoLibre by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 182,392 shares of the company’s stock worth $286,636,000 after acquiring an additional 3,577 shares in the last quarter. Evanson Asset Management LLC bought a new position in MercadoLibre in the first quarter worth approximately $210,000. Sarasin & Partners LLP increased its holdings in MercadoLibre by 10.1% during the 1st quarter. Sarasin & Partners LLP now owns 16,913 shares of the company’s stock worth $25,572,000 after purchasing an additional 1,547 shares during the period. West Paces Advisors Inc. bought a new stake in MercadoLibre during the 1st quarter valued at $60,000. Finally, Matthews International Capital Management LLC purchased a new stake in shares of MercadoLibre in the 1st quarter worth $1,037,000. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Stock Performance

MELI opened at $2,100.58 on Tuesday. The company has a market cap of $106.49 billion, a price-to-earnings ratio of 93.99, a PEG ratio of 1.25 and a beta of 1.61. The firm’s fifty day simple moving average is $2,038.67 and its two-hundred day simple moving average is $1,770.04. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. MercadoLibre, Inc. has a 52-week low of $1,141.04 and a 52-week high of $2,161.73.

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on MELI. Bank of America lifted their price objective on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a report on Thursday, September 12th. Barclays boosted their price target on MercadoLibre from $2,100.00 to $2,500.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. BTIG Research increased their price objective on MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Redburn Atlantic initiated coverage on MercadoLibre in a research report on Friday, October 11th. They set a “buy” rating and a $2,800.00 price target for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $2,530.00 price objective on shares of MercadoLibre in a report on Monday, October 7th. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $2,283.00.

About MercadoLibre

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.