Avalon Investment & Advisory reduced its position in Mercadolibre Inc (NASDAQ:MELI) by 52.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,805 shares of the company’s stock after selling 1,998 shares during the period. Avalon Investment & Advisory’s holdings in Mercadolibre were worth $1,779,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Engrave Wealth Partners LLC lifted its position in Mercadolibre by 121.4% during the 2nd quarter. Engrave Wealth Partners LLC now owns 31 shares of the company’s stock worth $30,000 after acquiring an additional 17 shares in the last quarter. Creative Financial Designs Inc. ADV acquired a new position in shares of Mercadolibre in the 2nd quarter valued at approximately $33,000. Whittier Trust Co. acquired a new position in shares of Mercadolibre in the 2nd quarter valued at approximately $35,000. Kistler Tiffany Companies LLC acquired a new position in shares of Mercadolibre in the 2nd quarter valued at approximately $46,000. Finally, Exchange Traded Concepts LLC acquired a new position in shares of Mercadolibre in the 2nd quarter valued at approximately $54,000. 80.50% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ:MELI traded down $3.37 during trading on Thursday, reaching $1,209.08. 7,891 shares of the stock were exchanged, compared to its average volume of 562,842. Mercadolibre Inc has a 12 month low of $422.22 and a 12 month high of $1,270.00. The firm has a market cap of $60.08 billion, a PE ratio of -355.48 and a beta of 1.72. The stock has a 50-day moving average price of $1,064.42 and a 200-day moving average price of $783.48. The company has a current ratio of 1.79, a quick ratio of 1.78 and a debt-to-equity ratio of 0.43.
Mercadolibre (NASDAQ:MELI) last issued its quarterly earnings data on Monday, August 10th. The company reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $1.01. Mercadolibre had a negative return on equity of 3.46% and a negative net margin of 5.89%. The company had revenue of $878.40 million during the quarter, compared to analysts’ expectations of $749.21 million. During the same quarter in the previous year, the company posted $0.31 earnings per share. The business’s revenue was up 61.1% on a year-over-year basis. On average, sell-side analysts expect that Mercadolibre Inc will post 0.09 earnings per share for the current fiscal year.
MELI has been the topic of a number of recent analyst reports. Barclays upped their target price on Mercadolibre from $1,210.00 to $1,340.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. Susquehanna Bancshares upgraded Mercadolibre from a “neutral” rating to a “positive” rating and boosted their price target for the company from $630.00 to $1,300.00 in a report on Tuesday, August 11th. Bradesco Corretora upgraded Mercadolibre from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $985.00 to $1,250.00 in a report on Monday, July 20th. JPMorgan Chase & Co. boosted their price target on Mercadolibre from $800.00 to $1,000.00 in a report on Wednesday, May 20th. Finally, TheStreet upgraded Mercadolibre from a “d+” rating to a “c-” rating in a research note on Wednesday, May 13th. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $1,005.94.
In related news, Director Emiliano Calemzuk sold 120 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $1,128.50, for a total value of $135,420.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.40% of the company’s stock.
Mercadolibre Company Profile
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.
Further Reading: How to calculate the intrinsic value of a stock
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