MercadoLibre, Inc. $MELI Stake Decreased by Channel Wealth LLC

Channel Wealth LLC lessened its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 47.5% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,854 shares of the company’s stock after selling 1,678 shares during the period. Channel Wealth LLC’s holdings in MercadoLibre were worth $3,205,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Aberdeen Group plc grew its position in MercadoLibre by 6,304.8% during the third quarter. Aberdeen Group plc now owns 2,473,606 shares of the company’s stock valued at $4,275,702,000 after buying an additional 2,434,985 shares during the period. BlackRock Inc. purchased a new stake in MercadoLibre during the second quarter valued at approximately $2,246,015,000. Jupiter Topco LLC bought a new position in MercadoLibre in the second quarter worth approximately $917,123,000. Linonia Partnership LP raised its position in MercadoLibre by 325.1% in the second quarter. Linonia Partnership LP now owns 553,788 shares of the company’s stock worth $939,994,000 after acquiring an additional 423,527 shares during the period. Finally, Royal Bank of Canada raised its position in MercadoLibre by 114.2% in the first quarter. Royal Bank of Canada now owns 444,603 shares of the company’s stock worth $768,728,000 after acquiring an additional 237,008 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of NASDAQ MELI opened at $1,491.49 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.10 and a current ratio of 1.17. The company has a market cap 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 fifty day moving average is $1,760.76 and its two-hundred day moving average is $1,787.78. MercadoLibre, Inc. has a 52-week low of $1,463.20 and a 52-week high of $2,342.00.

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of MercadoLibre in a research note on Tuesday, September 29th. BTIG Research cut their price objective on shares of 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. Raymond James Financial restated a “strong-buy” rating on shares of MercadoLibre in a research note on Thursday, November 5th. New Street Research initiated coverage on MercadoLibre in a report on Wednesday, September 23rd. They issued a “buy” rating and a $2,450.00 target price on the stock. Finally, Scotiabank decreased their target price on MercadoLibre from $2,800.00 to $2,300.00 and set a “sector outperform” rating on the stock in a report on Thursday, November 5th. One 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, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average 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.