SlateStone Wealth LLC Sells 213 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

SlateStone Wealth LLC decreased its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 10.2% during the 4th quarter, HoldingsChannel reports. The firm owned 1,872 shares of the company’s stock after selling 213 shares during the quarter. SlateStone Wealth LLC’s holdings in MercadoLibre were worth $2,942,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. CWM LLC boosted its holdings in shares of MercadoLibre by 10.5% during the 3rd quarter. CWM LLC now owns 912 shares of the company’s stock valued at $1,157,000 after acquiring an additional 87 shares in the last quarter. AE Wealth Management LLC boosted its holdings in shares of MercadoLibre by 23.3% during the 3rd quarter. AE Wealth Management LLC now owns 2,383 shares of the company’s stock valued at $3,021,000 after acquiring an additional 451 shares in the last quarter. IFP Advisors Inc boosted its holdings in shares of MercadoLibre by 19.3% during the 3rd quarter. IFP Advisors Inc now owns 216 shares of the company’s stock valued at $274,000 after acquiring an additional 35 shares in the last quarter. Traynor Capital Management Inc. acquired a new stake in shares of MercadoLibre during the 3rd quarter valued at $306,000. Finally, Impact Partnership Wealth LLC boosted its holdings in shares of MercadoLibre by 118.8% during the 3rd quarter. Impact Partnership Wealth LLC now owns 35 shares of the company’s stock valued at $44,000 after acquiring an additional 19 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. Barclays cut their target price on MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating on the stock in a report on Wednesday, April 3rd. UBS Group cut their target price on MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. DZ Bank raised MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 target price on the stock in a report on Tuesday. Finally, Citigroup cut their target price on MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating on the stock in a report on Wednesday, March 27th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,790.36.

MercadoLibre Stock Performance

Shares of NASDAQ:MELI traded up $1.73 during trading on Wednesday, hitting $1,396.73. 26,608 shares of the company were exchanged, compared to its average volume of 382,896. The company has a market cap of $70.81 billion, a PE ratio of 71.39, a P/E/G ratio of 0.88 and a beta of 1.44. The stock has a 50 day moving average of $1,546.31 and a 200 day moving average of $1,529.78. MercadoLibre, Inc. has a 52-week low of $1,063.02 and a 52-week high of $1,825.00. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.27 and a quick ratio of 1.24.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, February 22nd. The company reported $3.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.66 by ($3.41). The company had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $4.14 billion. MercadoLibre had a return on equity of 39.07% and a net margin of 6.82%. The company’s revenue was up 42.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.25 EPS. As a group, equities research analysts predict that MercadoLibre, Inc. will post 35.77 EPS for the current 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.