Zevin Asset Management LLC reduced its position in Mercadolibre Inc (NASDAQ:MELI) by 1.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,507 shares of the company’s stock after selling 308 shares during the period. Mercadolibre makes up about 3.6% of Zevin Asset Management LLC’s investment portfolio, making the stock its 6th biggest position. Zevin Asset Management LLC’s holdings in Mercadolibre were worth $11,304,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Amundi Pioneer Asset Management Inc. lifted its position in Mercadolibre by 30.5% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 14,496 shares of the company’s stock valued at $7,361,000 after purchasing an additional 3,392 shares in the last quarter. Fulton Bank N.A. purchased a new position in Mercadolibre during the second quarter valued at $201,000. WINTON GROUP Ltd purchased a new position in Mercadolibre during the second quarter valued at $381,000. Gulf International Bank UK Ltd lifted its position in Mercadolibre by 10.6% during the second quarter. Gulf International Bank UK Ltd now owns 10,400 shares of the company’s stock valued at $6,362,000 after purchasing an additional 1,000 shares in the last quarter. Finally, AMF Pensionsforsakring AB purchased a new position in Mercadolibre during the second quarter valued at $13,744,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.
Shares of MELI stock traded up $2.43 during trading hours on Friday, hitting $494.42. The stock had a trading volume of 390,600 shares, compared to its average volume of 567,941. The stock’s 50-day moving average price is $537.52 and its two-hundred day moving average price is $581.45. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.73 and a quick ratio of 2.53. The stock has a market capitalization of $24.11 billion, a price-to-earnings ratio of -602.95 and a beta of 1.61. Mercadolibre Inc has a one year low of $257.52 and a one year high of $698.98.
Mercadolibre (NASDAQ:MELI) last posted its earnings results on Thursday, October 31st. The company reported ($2.96) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($2.97). The company had revenue of $603.03 million for the quarter, compared to analysts’ expectations of $588.23 million. Mercadolibre had a negative return on equity of 1.29% and a negative net margin of 5.87%. The firm’s quarterly revenue was up 69.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.23) EPS. As a group, equities research analysts predict that Mercadolibre Inc will post -1.15 earnings per share for the current fiscal year.
Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. upgraded Mercadolibre from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $563.00 to $750.00 in a research report on Tuesday, August 13th. ValuEngine upgraded Mercadolibre from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Citigroup upgraded Mercadolibre from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $609.00 to $729.00 in a research report on Thursday, August 8th. TheStreet downgraded Mercadolibre from a “c” rating to a “d+” rating in a research report on Thursday, October 31st. Finally, Cowen set a $651.00 price objective on Mercadolibre and gave the company a “hold” rating in a research report on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company. Mercadolibre presently has a consensus rating of “Buy” and a consensus price target of $657.56.
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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