MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Wasatch Advisors LP

Wasatch Advisors LP lessened its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 2.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 138,724 shares of the company’s stock after selling 3,797 shares during the quarter. Wasatch Advisors LP owned approximately 0.27% of MercadoLibre worth $209,745,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. First PREMIER Bank purchased a new stake in MercadoLibre during the 1st quarter valued at about $27,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of MercadoLibre in the fourth quarter valued at approximately $28,000. Archer Investment Corp acquired a new stake in shares of MercadoLibre in the fourth quarter valued at approximately $31,000. Larson Financial Group LLC purchased a new position in MercadoLibre during the fourth quarter worth approximately $36,000. Finally, DSM Capital Partners LLC acquired a new position in MercadoLibre during the fourth quarter worth $36,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. UBS Group lowered their price target on shares of MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and increased their price objective for the stock from $1,400.00 to $2,100.00 in a research report on Monday, May 20th. DZ Bank upgraded MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 target price for the company in a report on Tuesday, April 23rd. Wedbush reissued an “outperform” rating and issued a $1,800.00 price target on shares of MercadoLibre in a research report on Friday, May 3rd. Finally, New Street Research cut MercadoLibre from a “buy” rating to a “neutral” rating in a research note on Friday, May 24th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $1,881.92.

MercadoLibre Stock Performance

MELI stock traded down $1.12 on Tuesday, hitting $1,596.48. The company’s stock had a trading volume of 297,444 shares, compared to its average volume of 375,690. The firm has a 50 day moving average of $1,621.34 and a two-hundred day moving average of $1,607.20. MercadoLibre, Inc. has a 1 year low of $1,063.02 and a 1 year high of $1,825.00. The company has a current ratio of 1.27, a quick ratio of 1.25 and a debt-to-equity ratio of 0.66. The stock has a market cap of $80.94 billion, a price-to-earnings ratio of 71.77, a price-to-earnings-growth ratio of 1.20 and a beta of 1.60.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, May 2nd. The company reported $6.78 EPS for the quarter, topping the consensus estimate of $6.64 by $0.14. MercadoLibre had a return on equity of 39.46% and a net margin of 7.17%. The business had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $3.84 billion. During the same quarter in the prior year, the business earned $3.97 earnings per share. The company’s quarterly revenue was up 36.0% compared to the same quarter last year. Equities analysts predict that MercadoLibre, Inc. will post 33.81 EPS for the current fiscal year.

About MercadoLibre

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.