Avity Investment Management Inc. Sells 587 Shares of MercadoLibre, Inc. $MELI

Avity Investment Management Inc. trimmed its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 4.6% during the fourth quarter, HoldingsChannel reports. The fund owned 12,073 shares of the company’s stock after selling 587 shares during the period. MercadoLibre comprises about 1.7% of Avity Investment Management Inc.’s investment portfolio, making the stock its 24th largest position. Avity Investment Management Inc.’s holdings in MercadoLibre were worth $24,318,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Bison Wealth LLC bought a new position in shares of MercadoLibre during the 4th quarter worth approximately $206,000. Empowered Funds LLC lifted its position in shares of MercadoLibre by 6.9% in the first quarter. Empowered Funds LLC now owns 760 shares of the company’s stock worth $1,483,000 after purchasing an additional 49 shares in the last quarter. Focus Partners Wealth boosted its holdings in MercadoLibre by 42.0% during the first quarter. Focus Partners Wealth now owns 602 shares of the company’s stock worth $1,176,000 after purchasing an additional 178 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in MercadoLibre during the second quarter worth $261,000. Finally, Prudential Financial Inc. grew its position in MercadoLibre by 19.5% in the second quarter. Prudential Financial Inc. now owns 588 shares of the company’s stock valued at $1,537,000 after purchasing an additional 96 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

MercadoLibre Stock Down 1.9%

NASDAQ MELI opened at $1,599.52 on Friday. The business has a fifty day moving average price of $1,901.13 and a two-hundred day moving average price of $2,066.92. The stock has a market capitalization of $81.10 billion, a PE ratio of 40.60, a PEG ratio of 0.82 and a beta of 1.48. MercadoLibre, Inc. has a fifty-two week low of $1,593.21 and a fifty-two week high of $2,645.22. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.17 and a quick ratio of 1.15.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $11.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.66 by ($0.63). MercadoLibre had a net margin of 6.91% and a return on equity of 33.73%. The business had revenue of $8.76 billion during the quarter, compared to the consensus estimate of $8.45 billion. During the same quarter in the previous year, the business posted $12.61 EPS. The company’s revenue for the quarter was up 44.6% on a year-over-year basis. Equities analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Cantor Fitzgerald cut their price target on shares of MercadoLibre from $2,750.00 to $2,400.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 25th. Barclays lowered their target price on shares of MercadoLibre from $2,900.00 to $2,600.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. Zacks Research upgraded shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Friday, February 6th. BTIG Research decreased their price objective on shares of MercadoLibre from $2,650.00 to $2,400.00 and set a “buy” rating for the company in a research report on Friday, March 20th. Finally, Weiss Ratings downgraded MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $2,708.67.

MercadoLibre Company Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.