Night Squared LP Sells 2,335 Shares of MercadoLibre, Inc. $MELI

Night Squared LP lessened its position in MercadoLibre, Inc. (NASDAQ:MELI) by 70.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 968 shares of the company’s stock after selling 2,335 shares during the quarter. Night Squared LP’s holdings in MercadoLibre were worth $2,530,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Brooklyn Investment Group grew its holdings in MercadoLibre by 650.0% in the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock worth $29,000 after acquiring an additional 13 shares during the last quarter. Twin Tree Management LP purchased a new stake in MercadoLibre in the 1st quarter worth approximately $29,000. Saudi Central Bank bought a new stake in shares of MercadoLibre in the 1st quarter worth approximately $35,000. McIlrath & Eck LLC increased its stake in shares of MercadoLibre by 375.0% during the first quarter. McIlrath & Eck LLC now owns 19 shares of the company’s stock valued at $37,000 after buying an additional 15 shares during the period. Finally, Highline Wealth Partners LLC increased its position in shares of MercadoLibre by 366.7% during the second quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock valued at $37,000 after buying an additional 11 shares during the period. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MELI has been the topic of several research reports. Dbs Bank raised MercadoLibre from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, December 2nd. BTIG Research reissued a “buy” rating and set a $2,750.00 price target on shares of MercadoLibre in a research report on Thursday, December 4th. Citigroup cut their price objective on shares of MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating on the stock in a report on Thursday, October 9th. Cantor Fitzgerald decreased their target price on shares of MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating for the company in a research note on Thursday, October 30th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of MercadoLibre in a report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $2,848.82.

MercadoLibre Price Performance

Shares of MELI opened at $2,074.48 on Wednesday. The stock has a market capitalization of $105.18 billion, a PE ratio of 50.62, a PEG ratio of 1.50 and a beta of 1.42. MercadoLibre, Inc. has a fifty-two week low of $1,646.00 and a fifty-two week high of $2,645.22. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.15 and a current ratio of 1.17. The company has a 50 day moving average price of $2,132.94 and a 200-day moving average price of $2,324.56.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $8.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.88 by ($1.56). MercadoLibre had a net margin of 7.93% and a return on equity of 39.03%. The company had revenue of $7.41 billion for the quarter, compared to analyst estimates of $7.19 billion. During the same quarter last year, the company earned $7.83 EPS. The business’s revenue was up 39.5% compared to the same quarter last year. Equities analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share 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.