Stephens Investment Management Group LLC decreased its stake in Mercadolibre Inc (NASDAQ:MELI) by 18.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 76,653 shares of the company’s stock after selling 17,651 shares during the quarter. Stephens Investment Management Group LLC owned approximately 0.16% of Mercadolibre worth $46,894,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Harvest Group Wealth Management LLC purchased a new position in Mercadolibre during the first quarter worth approximately $28,000. NEXT Financial Group Inc lifted its position in shares of Mercadolibre by 104.3% in the second quarter. NEXT Financial Group Inc now owns 47 shares of the company’s stock valued at $29,000 after acquiring an additional 24 shares in the last quarter. Icon Wealth Partners LLC purchased a new position in shares of Mercadolibre in the first quarter valued at approximately $32,000. CENTRAL TRUST Co lifted its position in shares of Mercadolibre by 62.5% in the second quarter. CENTRAL TRUST Co now owns 52 shares of the company’s stock valued at $33,000 after acquiring an additional 20 shares in the last quarter. Finally, Carroll Financial Associates Inc. lifted its position in shares of Mercadolibre by 59.5% in the first quarter. Carroll Financial Associates Inc. now owns 67 shares of the company’s stock valued at $34,000 after acquiring an additional 25 shares in the last quarter. Hedge funds and other institutional investors own 84.06% of the company’s stock.

Shares of NASDAQ:MELI traded down $10.06 during midday trading on Thursday, hitting $609.94. The company had a trading volume of 12,725 shares, compared to its average volume of 591,517. Mercadolibre Inc has a twelve month low of $257.52 and a twelve month high of $698.98. The company has a current ratio of 2.82, a quick ratio of 2.82 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $31.00 billion, a PE ratio of -743.48 and a beta of 1.76. The firm’s 50-day moving average is $633.95.

Mercadolibre (NASDAQ:MELI) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.28 by $0.03. Mercadolibre had a return on equity of 1.62% and a net margin of 0.87%. The firm had revenue of $545.24 million during the quarter, compared to analysts’ expectations of $507.68 million. During the same quarter last year, the firm earned ($0.25) earnings per share. The business’s revenue for the quarter was up 62.6% on a year-over-year basis. As a group, equities research analysts expect that Mercadolibre Inc will post 0.84 earnings per share for the current fiscal year.

Several equities analysts have recently weighed in on MELI shares. Zacks Investment Research upgraded Mercadolibre from a “hold” rating to a “buy” rating and set a $608.00 target price on the stock in a research report on Friday, May 10th. Barclays raised their target price on Mercadolibre from $615.00 to $730.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. BTIG Research downgraded Mercadolibre from a “buy” rating to a “neutral” rating and set a $561.01 target price on the stock. in a research report on Tuesday, June 4th. Susquehanna Bancshares upgraded Mercadolibre from a “negative” rating to a “neutral” rating in a research report on Friday, May 3rd.
Finally, Piper Jaffray Companies raised their target price on Mercadolibre from $584.00 to $675.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $620.63.

Mercadolibre Profile

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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Institutional Ownership by Quarter for Mercadolibre (NASDAQ:MELI)

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