Capital Wealth Planning LLC Sells 800 Shares of MercadoLibre, Inc. $MELI

Capital Wealth Planning LLC reduced its position in MercadoLibre, Inc. (NASDAQ:MELIFree Report) by 33.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,586 shares of the company’s stock after selling 800 shares during the period. Capital Wealth Planning LLC’s holdings in MercadoLibre were worth $3,706,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Darwin Wealth Management LLC bought a new position in MercadoLibre during the 2nd quarter worth about $29,000. Steigerwald Gordon & Koch Inc. bought a new stake in shares of MercadoLibre in the 3rd quarter valued at about $35,000. Cullen Frost Bankers Inc. raised its holdings in shares of MercadoLibre by 100.0% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 16 shares of the company’s stock valued at $37,000 after purchasing an additional 8 shares in the last quarter. Rothschild Investment LLC lifted its position in shares of MercadoLibre by 35.7% in the 3rd quarter. Rothschild Investment LLC now owns 19 shares of the company’s stock worth $44,000 after purchasing an additional 5 shares during the period. Finally, Abich Financial Wealth Management LLC bought a new position in shares of MercadoLibre during the third quarter valued at approximately $47,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MELI. Zacks Research raised shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a report on Friday, February 6th. Weiss Ratings lowered MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, January 8th. Dbs Bank upgraded MercadoLibre from a “hold” rating to a “moderate buy” rating in a report on Tuesday, December 2nd. Cantor Fitzgerald decreased their price objective on MercadoLibre from $2,750.00 to $2,400.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. Finally, Morgan Stanley dropped their price objective on MercadoLibre from $2,800.00 to $2,600.00 and set an “overweight” rating on the stock in a research report on Monday, March 9th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $2,725.33.

View Our Latest Analysis on MELI

MercadoLibre Price Performance

Shares of MELI stock opened at $1,670.00 on Friday. MercadoLibre, Inc. has a fifty-two week low of $1,631.18 and a fifty-two week high of $2,645.22. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.15 and a current ratio of 1.17. The firm has a market capitalization of $84.67 billion, a price-to-earnings ratio of 42.39, a PEG ratio of 0.90 and a beta of 1.48. The stock’s 50-day simple moving average is $1,996.22 and its 200-day simple moving average is $2,119.50.

MercadoLibre (NASDAQ:MELIGet Free Report) last announced its quarterly earnings data on Tuesday, February 24th. The company reported $11.03 EPS for the quarter, missing the consensus estimate of $11.66 by ($0.63). The company had revenue of $8.76 billion during the quarter, compared to analysts’ expectations of $8.45 billion. MercadoLibre had a net margin of 6.91% and a return on equity of 33.73%. The business’s revenue for the quarter was up 44.6% compared to the same quarter last year. During the same period in the previous year, the business earned $12.61 earnings per share. As a group, equities analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Trending Headlines about MercadoLibre

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About MercadoLibre

(Free Report)

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.

Further Reading

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Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)

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