Groupe la Francaise Sells 2,457 Shares of MercadoLibre, Inc. $MELI

Groupe la Francaise reduced its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 15.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,126 shares of the company’s stock after selling 2,457 shares during the quarter. Groupe la Francaise’s holdings in MercadoLibre were worth $34,155,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of MELI. Jennison Associates LLC increased its stake in MercadoLibre by 7.0% during the 2nd quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock worth $3,228,460,000 after purchasing an additional 81,124 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of MercadoLibre by 22.4% in the first quarter. Invesco Ltd. now owns 570,967 shares of the company’s stock valued at $1,113,881,000 after buying an additional 104,554 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of MercadoLibre by 21.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company’s stock valued at $1,073,823,000 after buying an additional 96,283 shares during the period. Generation Investment Management LLP increased its position in shares of MercadoLibre by 3.3% during the first quarter. Generation Investment Management LLP now owns 530,564 shares of the company’s stock worth $1,035,061,000 after acquiring an additional 16,878 shares in the last quarter. Finally, Schroder Investment Management Group raised its holdings in shares of MercadoLibre by 16.6% during the second quarter. Schroder Investment Management Group now owns 521,833 shares of the company’s stock worth $1,363,878,000 after acquiring an additional 74,201 shares during the period. Institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

MELI has been the subject of a number of research reports. Benchmark lowered their target price on MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating for the company in a report on Thursday, October 30th. Morgan Stanley raised their price target on shares of MercadoLibre from $2,850.00 to $2,950.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd. UBS Group cut their price objective on shares of MercadoLibre from $3,000.00 to $2,900.00 and set a “buy” rating on the stock in a research report on Monday, November 24th. BTIG Research reaffirmed a “buy” rating and issued a $2,750.00 target price on shares of MercadoLibre in a research report on Friday, November 14th. Finally, Cantor Fitzgerald lowered their price target on shares of MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $2,848.82.

MercadoLibre Price Performance

NASDAQ:MELI opened at $2,115.91 on Wednesday. The stock has a market capitalization of $107.27 billion, a PE ratio of 51.63, a P/E/G ratio of 1.56 and a beta of 1.42. MercadoLibre, Inc. has a 1-year low of $1,646.00 and a 1-year high of $2,645.22. The firm has a fifty day simple moving average of $2,169.36 and a 200 day simple moving average of $2,341.35. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $8.32 EPS for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). MercadoLibre had a net margin of 7.93% and a return on equity of 41.35%. The firm had revenue of $7.41 billion during the quarter, compared to analyst estimates of $7.19 billion. The business’s revenue was up 39.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $7.83 EPS. On average, research analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

MercadoLibre Company 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.