7,046 MercadoLibre, Inc. $MELI Shares Sold by PBU The Pension Fund of Early Childhood & Youth Educators

PBU The Pension Fund of Early Childhood & Youth Educators cut its position in MercadoLibre, Inc. (NASDAQ:MELI) by 46.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,170 shares of the company’s stock after selling 7,046 shares during the period. PBU The Pension Fund of Early Childhood & Youth Educators’ holdings in MercadoLibre were worth $14,122,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of MELI. CORDA Investment Management LLC. acquired a new position in MercadoLibre during the second quarter valued at $1,241,000. Deutsche Bank AG purchased a new stake in MercadoLibre in the second quarter valued at $279,445,000. State Street Corp boosted its holdings in MercadoLibre by 7.7% in the second quarter. State Street Corp now owns 459,748 shares of the company’s stock valued at $780,372,000 after purchasing an additional 32,734 shares during the last quarter. Allianz Asset Management GmbH grew its position in MercadoLibre by 72.5% during the 2nd quarter. Allianz Asset Management GmbH now owns 102,614 shares of the company’s stock worth $174,176,000 after purchasing an additional 43,130 shares during the period. Finally, Nykredit A S acquired a new stake in MercadoLibre during the 2nd quarter worth about $43,261,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting MercadoLibre

Investors following MELI have been watching these headlines:

• Neutral Sentiment: Shares fell about 20% from October 5 to November 10 and reached a new 52-week low; one analysis describes a possible technical support bid near $1,500, though that does not resolve concerns about fundamentals. Article: MercadoLibre Stock Fell 20% in a Month After Hitting a New 52-Week Low. Is the Selling Overdone?
• Negative Sentiment: Profitability is the key concern: quarterly EPS of $8.83 missed the $9.27 consensus, while heavy investment spending and margin pressure have raised questions about how much of the strong sales growth will translate into earnings. Article: MercadoLibre stock faces a sharper test of profitable growth
• Negative Sentiment: Analyst actions add pressure. UBS lowered its price target from $1,750 to $1,600 and maintained a neutral rating; JPMorgan also cut its target, while a recent analysis points to further target reductions amid weak technical momentum. UBS rating information Article: MercadoLibre stock price target cut by JPMorgan Article: Analyst cuts meet a soft technical bid near $1,500

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $1,475.09 on Friday. The firm has a market cap of $74.79 billion, a PE ratio of 40.56, a PEG ratio of 1.08 and a beta of 1.42. The firm has a fifty day moving average of $1,770.75 and a 200 day moving average of $1,791.80. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.10 and a current ratio of 1.17. MercadoLibre, Inc. has a one year low of $1,465.06 and a one year high of $2,342.00.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Wednesday, November 4th. The company reported $8.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.27 by ($0.44). The company had revenue of $10.75 billion during the quarter, compared to analyst estimates of $10.69 billion. MercadoLibre had a net margin of 4.91% and a return on equity of 25.15%. The firm’s revenue for the quarter was up 45.1% compared to the same quarter last year. During the same quarter last year, the business earned $8.32 EPS. As a group, research analysts predict that MercadoLibre, Inc. will post 37.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MELI. Raymond James Financial reiterated a “strong-buy” rating on shares of MercadoLibre in a research note on Thursday, November 5th. Weiss Ratings restated a “hold (c)” rating on shares of MercadoLibre in a research note on Tuesday, September 29th. Scotiabank lowered their target price on MercadoLibre from $2,800.00 to $2,300.00 and set a “sector outperform” rating on the stock in a research note on Thursday, November 5th. Citigroup raised MercadoLibre from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $2,100.00 to $2,050.00 in a report on Tuesday, October 27th. Finally, BTIG Research reduced their price target on MercadoLibre from $2,150.00 to $2,050.00 and set a “buy” rating for the company in a research report on Thursday, November 5th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $2,170.62.

MercadoLibre Profile

MercadoLibre, Inc. operates an online commerce and financial technology platform focused on Latin America. Founded in Argentina in 1999, the company connects buyers and sellers through its marketplace, where businesses and individuals can list and purchase a wide range of products. The company’s services also include Mercado Pago, which offers digital payment and financial services for transactions on and off its marketplace. MercadoLibre supports commerce with services such as Mercado Envíos, its shipping and logistics platform, and provides advertising tools for merchants and brands.