Sycale Advisors NY LLC Sells 1,615 Shares of MercadoLibre, Inc. $MELI

Sycale Advisors NY LLC decreased its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 20.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 6,306 shares of the company’s stock after selling 1,615 shares during the period. MercadoLibre comprises approximately 3.3% of Sycale Advisors NY LLC’s holdings, making the stock its 11th largest position. Sycale Advisors NY LLC’s holdings in MercadoLibre were worth $10,704,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in MELI. Bison Wealth LLC purchased a new stake in shares of MercadoLibre in the fourth quarter valued at approximately $206,000. Empowered Funds LLC increased its holdings in MercadoLibre by 6.9% during the 1st quarter. Empowered Funds LLC now owns 760 shares of the company’s stock worth $1,483,000 after purchasing an additional 49 shares during the period. Focus Partners Wealth increased its holdings in MercadoLibre by 42.0% during the 1st quarter. Focus Partners Wealth now owns 602 shares of the company’s stock worth $1,176,000 after purchasing an additional 178 shares during the period. Sivia Capital Partners LLC bought a new stake in MercadoLibre during the 2nd quarter valued at $261,000. Finally, Gamco Investors INC. ET AL raised its position in MercadoLibre by 21.4% during the 2nd quarter. Gamco Investors INC. ET AL now owns 170 shares of the company’s stock valued at $444,000 after purchasing an additional 30 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of MercadoLibre in a report on Thursday, July 2nd. JPMorgan Chase & Co. upped their price target on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. Raymond James Financial set a $2,000.00 price target on shares of MercadoLibre in a research report on Friday, May 8th. UBS Group dropped their price objective on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. Finally, BTIG Research reissued a “buy” rating and set a $2,150.00 price objective on shares of MercadoLibre in a report on Thursday, August 6th. Eleven analysts have rated the stock with a Buy rating and six have issued 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 Stock Performance

MELI stock opened at $1,921.96 on Friday. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,548.50. The firm has a market cap 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. The firm has a 50-day simple moving average of $1,786.39 and a two-hundred day simple moving average of $1,774.91.

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

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.