Titleist Asset Management LLC Cuts Stake in MercadoLibre, Inc. $MELI

Titleist Asset Management LLC lessened its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 17.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 478 shares of the company’s stock after selling 98 shares during the quarter. Titleist Asset Management LLC’s holdings in MercadoLibre were worth $1,249,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Highline Wealth Partners LLC grew its holdings in MercadoLibre by 366.7% during the 2nd quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock valued at $37,000 after buying an additional 11 shares in the last quarter. Brooklyn Investment Group lifted its holdings in shares of MercadoLibre by 650.0% in the first quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock worth $29,000 after buying an additional 13 shares in the last quarter. Twin Tree Management LP bought a new position in shares of MercadoLibre during the first quarter worth $29,000. Curio Wealth LLC grew its stake in MercadoLibre by 1,400.0% during the second quarter. Curio Wealth LLC now owns 15 shares of the company’s stock valued at $39,000 after acquiring an additional 14 shares in the last quarter. Finally, Stone House Investment Management LLC purchased a new position in MercadoLibre during the second quarter valued at $39,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Trading Up 2.7%

Shares of MELI stock opened at $1,951.78 on Friday. MercadoLibre, Inc. has a 1 year low of $1,646.00 and a 1 year high of $2,645.22. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. The stock’s 50 day simple moving average is $2,222.62 and its two-hundred day simple moving average is $2,363.37. The company has a market cap of $98.95 billion, a PE ratio of 47.63, a price-to-earnings-growth ratio of 1.56 and a beta of 1.51.

MercadoLibre (NASDAQ:MELI) last announced its 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). The company had revenue of $7.41 billion during the quarter, compared to analysts’ expectations of $7.19 billion. MercadoLibre had a return on equity of 41.35% and a net margin of 7.93%.MercadoLibre’s revenue for the quarter was up 39.5% compared to the same quarter last year. During the same quarter last year, the firm posted $7.83 EPS. Research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have commented on MELI shares. Wedbush boosted their price target on shares of MercadoLibre from $2,700.00 to $2,800.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Jefferies Financial Group reiterated a “hold” rating and issued a $2,800.00 target price on shares of MercadoLibre in a research report on Tuesday, August 5th. Morgan Stanley raised their price target on MercadoLibre from $2,850.00 to $2,950.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. Barclays lifted their price objective on MercadoLibre from $2,800.00 to $2,900.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Finally, 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 research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $2,854.71.

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.