Pacer Advisors Inc. cut its holdings in Mercadolibre Inc (NASDAQ:MELI) by 2.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,934 shares of the company’s stock after selling 100 shares during the quarter. Pacer Advisors Inc.’s holdings in Mercadolibre were worth $3,878,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Aigen Investment Management LP purchased a new stake in Mercadolibre in the first quarter valued at about $981,000. Tredje AP fonden raised its stake in Mercadolibre by 19.7% in the first quarter. Tredje AP fonden now owns 3,262 shares of the company’s stock valued at $1,594,000 after buying an additional 537 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Mercadolibre by 153.2% in the first quarter. PNC Financial Services Group Inc. now owns 3,433 shares of the company’s stock valued at $1,677,000 after buying an additional 2,077 shares during the last quarter. Westpac Banking Corp raised its stake in shares of Mercadolibre by 13.4% in the first quarter. Westpac Banking Corp now owns 36,126 shares of the company’s stock worth $17,650,000 after purchasing an additional 4,278 shares during the last quarter. Finally, Gradient Investments LLC purchased a new position in shares of Mercadolibre in the first quarter worth about $1,331,000. Institutional investors own 80.50% of the company’s stock.
NASDAQ:MELI opened at $1,124.62 on Friday. Mercadolibre Inc has a 52 week low of $422.22 and a 52 week high of $1,150.82. The company has a quick ratio of 2.22, a current ratio of 2.23 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $55.90 billion, a P/E ratio of -267.77 and a beta of 1.70. The stock’s fifty day moving average is $981.92 and its two-hundred day moving average is $736.54.
Mercadolibre (NASDAQ:MELI) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.48) by $0.04. The firm had revenue of $652.09 million for the quarter, compared to the consensus estimate of $609.27 million. Mercadolibre had a negative return on equity of 5.29% and a negative net margin of 8.28%. The company’s quarterly revenue was up 37.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.13 EPS. Sell-side analysts anticipate that Mercadolibre Inc will post -0.95 earnings per share for the current fiscal year.
Several brokerages have recently issued reports on MELI. Barclays raised their price objective on Mercadolibre from $620.00 to $810.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. UBS Group lifted their price target on Mercadolibre from $670.00 to $1,040.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. Zacks Investment Research upgraded Mercadolibre from a “hold” rating to a “buy” rating and set a $846.00 price target for the company in a research report on Wednesday, May 20th. Citigroup upgraded Mercadolibre from a “neutral” rating to a “buy” rating in a research report on Wednesday, May 6th. Finally, Bank of America lifted their price target on Mercadolibre from $800.00 to $1,100.00 and gave the company a “buy” rating in a research report on Tuesday, June 9th. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $827.40.
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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