MercadoLibre, Inc. $MELI Shares Sold by Fairtree Asset Management Pty Ltd

Fairtree Asset Management Pty Ltd cut its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 86.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 172 shares of the company’s stock after selling 1,059 shares during the quarter. Fairtree Asset Management Pty Ltd’s holdings in MercadoLibre were worth $292,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MELI. Bison Wealth LLC acquired a new position in shares of MercadoLibre during the 4th quarter worth $206,000. Empowered Funds LLC lifted its stake in shares of MercadoLibre by 6.9% in the first quarter. Empowered Funds LLC now owns 760 shares of the company’s stock valued at $1,483,000 after purchasing an additional 49 shares during the period. Focus Partners Wealth lifted its stake in shares of MercadoLibre by 42.0% in the first quarter. Focus Partners Wealth now owns 602 shares of the company’s stock valued at $1,176,000 after purchasing an additional 178 shares during the period. Sivia Capital Partners LLC purchased a new stake in MercadoLibre during the second quarter worth about $261,000. Finally, Gamco Investors INC. ET AL boosted its holdings in MercadoLibre by 21.4% during the second quarter. Gamco Investors INC. ET AL now owns 170 shares of the company’s stock worth $444,000 after buying an additional 30 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Performance

MercadoLibre stock opened at $1,921.96 on Friday. The stock has a fifty day moving average of $1,786.39 and a two-hundred day moving average of $1,774.91. MercadoLibre, Inc. has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,548.50. The company has a market capitalization of $97.44 billion, a price-to-earnings ratio of 52.27, a PEG ratio of 1.31 and a beta of 1.34. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.65 by $0.54. The company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The firm’s quarterly revenue was up 49.8% on a year-over-year basis. During the same period in the prior year, the firm earned $10.31 EPS. On average, analysts anticipate that MercadoLibre, Inc. will post 39.11 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on MELI. JPMorgan Chase & Co. increased their target price on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. Benchmark decreased their price target on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Citigroup upped their price target on MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. UBS Group dropped their price objective on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. Finally, Raymond James Financial set a $2,000.00 price objective on MercadoLibre in a report on Friday, May 8th. Eleven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and a consensus target price of $2,272.00.

MercadoLibre Company Profile

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.