1,155 MercadoLibre, Inc. $MELI Shares Sold by Cornerstone Advisors LLC

Cornerstone Advisors LLC lowered its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 18.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,176 shares of the company’s stock after selling 1,155 shares during the period. Cornerstone Advisors LLC’s holdings in MercadoLibre were worth $8,947,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Wedbush Fund Advisers LLC bought a new position in MercadoLibre in the 2nd quarter valued at approximately $29,000. Twin Lakes Capital Management LLC bought a new stake in shares of MercadoLibre in the 2nd quarter worth $31,000. NBT Bank N.A. purchased a new position in shares of MercadoLibre in the third quarter worth $35,000. Markowski Investments purchased a new position in shares of MercadoLibre in the second quarter worth $36,000. Finally, Byrne Asset Management LLC purchased a new position in shares of MercadoLibre in the third quarter worth $40,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Trading Up 1.1%

Shares of MELI stock opened at $1,491.49 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.10 and a debt-to-equity ratio of 0.77. MercadoLibre, Inc. has a 12-month low of $1,463.20 and a 12-month high of $2,342.00. The stock has a market capitalization of $75.62 billion, a P/E ratio of 40.01, a P/E/G ratio of 1.06 and a beta of 1.42. The firm’s 50 day moving average is $1,760.76 and its 200 day moving average is $1,787.78.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Wednesday, November 4th. The company reported $8.83 earnings per share for the quarter, missing analysts’ consensus estimates of $9.27 by ($0.44). The company had revenue of $10.75 billion for the quarter, compared to analysts’ expectations of $10.69 billion. MercadoLibre had a net margin of 4.91% and a return on equity of 25.15%. MercadoLibre’s quarterly revenue was up 45.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $8.32 earnings per share. Research analysts expect that MercadoLibre, Inc. will post 37.44 earnings per share for the current year.

Analyst Ratings Changes

MELI has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lowered their price target on MercadoLibre from $2,150.00 to $1,850.00 and set a “neutral” rating on the stock in a report on Monday, November 9th. Susquehanna lifted their price objective on MercadoLibre to $2,400.00 and gave the stock a “positive” rating in a report on Tuesday, October 6th. Scotiabank reduced their price objective on MercadoLibre from $2,800.00 to $2,300.00 and set a “sector outperform” rating for the company in a report on Thursday, November 5th. Weiss Ratings reissued a “hold (c)” rating on shares of MercadoLibre in a research report on Tuesday, September 29th. Finally, Cantor Fitzgerald lowered their target price on shares of MercadoLibre from $2,200.00 to $2,000.00 and set an “overweight” rating on the stock in a research note on Thursday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $2,170.62.

MercadoLibre Company 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.