Headlands Technologies LLC Lowers Stake in MercadoLibre, Inc. $MELI

Headlands Technologies LLC reduced its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 77.5% in the second quarter, Holdings Channel reports. The firm owned 299 shares of the company’s stock after selling 1,030 shares during the period. Headlands Technologies LLC’s holdings in MercadoLibre were worth $508,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in MELI. Transamerica Financial Advisors LLC bought a new stake in MercadoLibre during the 4th quarter valued at about $26,000. Purpose Unlimited Inc. purchased a new stake in MercadoLibre in the 4th quarter valued at about $28,000. Wedbush Fund Advisers LLC bought a new position in MercadoLibre in the 2nd quarter worth about $29,000. Darwin Wealth Management LLC bought a new position in MercadoLibre in the 2nd quarter worth about $29,000. Finally, Curio Wealth LLC purchased a new position in shares of MercadoLibre during the fourth quarter worth approximately $30,000. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Trading Up 2.2%

NASDAQ MELI opened at $2,006.58 on Thursday. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,548.50. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12. The company has a market capitalization of $101.73 billion, a price-to-earnings ratio of 54.57, a price-to-earnings-growth ratio of 1.35 and a beta of 1.31. The company’s 50-day simple moving average is $1,845.93 and its two-hundred day simple moving average is $1,769.50.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share for the quarter, topping the consensus estimate of $8.65 by $0.54. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The firm had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.79 billion. During the same quarter in the prior year, the company earned $10.31 EPS. The company’s revenue was up 49.8% compared to the same quarter last year. Equities analysts forecast that MercadoLibre, Inc. will post 39.11 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on MELI shares. Citigroup lifted their price target on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. The Goldman Sachs Group set a $2,100.00 price objective on MercadoLibre in a research note on Wednesday, May 13th. Weiss Ratings restated a “hold (c)” rating on shares of MercadoLibre in a report on Thursday, July 2nd. Morgan Stanley decreased their target price on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. Finally, Barclays lowered their target price on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating for the company in a report on Monday, May 11th. Eleven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, MercadoLibre presently has an average rating of “Moderate Buy” and an average price target 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.