1,225 MercadoLibre, Inc. $MELI Shares Sold by State of Wyoming

State of Wyoming reduced its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 85.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 207 shares of the company’s stock after selling 1,225 shares during the quarter. State of Wyoming’s holdings in MercadoLibre were worth $358,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. CORDA Investment Management LLC. bought a new stake in shares of MercadoLibre during the 2nd quarter worth $1,241,000. Deutsche Bank AG bought a new position in MercadoLibre in the 2nd quarter worth $279,445,000. State Street Corp raised its holdings in MercadoLibre by 7.7% in the 2nd quarter. State Street Corp now owns 459,748 shares of the company’s stock worth $780,372,000 after acquiring an additional 32,734 shares during the period. Allianz Asset Management GmbH lifted 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 acquiring an additional 43,130 shares during the last quarter. Finally, Nykredit A S acquired a new position in MercadoLibre during the 2nd quarter worth $43,261,000. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Up 4.7%

Shares of MELI stock opened at $1,739.88 on Thursday. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,342.00. The firm’s fifty day simple moving average is $1,824.83 and its 200 day simple moving average is $1,809.90. The firm has a market capitalization of $88.21 billion, a P/E ratio of 47.32, a price-to-earnings-growth ratio of 1.17 and a beta of 1.42. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53.

MercadoLibre (NASDAQ:MELI) last released its 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 net margin of 5.30% and a return on equity of 26.54%. The company had revenue of $10.75 billion for the quarter, compared to analyst estimates of $10.69 billion. During the same quarter in the previous year, the company earned $8.32 earnings per share. MercadoLibre’s revenue for the quarter was up 45.1% compared to the same quarter last year. As a group, sell-side analysts predict that MercadoLibre, Inc. will post 38.09 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MELI shares. Zacks Research upgraded shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Cantor Fitzgerald dropped their price objective on MercadoLibre from $2,300.00 to $2,200.00 and set an “overweight” rating on the stock in a research note on Monday, October 12th. New Street Research began coverage on MercadoLibre in a research report on Wednesday, September 23rd. They set a “buy” rating and a $2,450.00 price objective for the company. JPMorgan Chase & Co. increased their target price on MercadoLibre from $1,900.00 to $2,150.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $2,150.00 target price on shares of MercadoLibre in a report on Tuesday, October 27th. Thirteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $2,248.75.

Key MercadoLibre News

Here are the key news stories impacting MercadoLibre this week:

• Positive Sentiment: Revenue and financial income rose 45% year over year to $10.75 billion, topping analyst expectations; Brazil was the strongest-growth market. Q3 results
• Negative Sentiment: EPS of $8.83 missed analyst estimates. Operating income was $676 million, with a 6.3% margin that eased sequentially as MercadoLibre invested in fulfillment capacity and absorbed higher logistics costs. Reuters report
• Negative Sentiment: Spending on shipping, marketing and credit contributed to further margin pressure. Currency-neutral revenue growth also slowed for a fourth consecutive quarter, raising concerns that rapid sales growth may not translate into profit growth as quickly as investors had hoped. Earnings reaction

About MercadoLibre

MercadoLibre, Inc is a technology company that operates an online commerce and financial services ecosystem across Latin America. Founded in 1999 by Marcos Galperin, the company initially developed an online marketplace and has expanded into a broad platform connecting buyers and sellers with businesses and consumers.

Its commerce operations include the MercadoLibre marketplace, where users can purchase and sell products across numerous categories. The company also offers supporting services such as Mercado Envíos for shipping and logistics, Mercado Ads for digital advertising, and tools for merchants to manage their online businesses.

MercadoLibre’s financial technology business is centered on Mercado Pago, which provides digital payment processing, online checkout, money transfer and account services.