First Trust Advisors LP cut its position in Mercadolibre Inc (NASDAQ:MELI) by 4.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,720 shares of the company’s stock after selling 948 shares during the period. First Trust Advisors LP owned about 0.05% of Mercadolibre worth $7,735,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. acquired a new stake in shares of Mercadolibre during the first quarter worth $316,000. Westpac Banking Corp raised its position in shares of Mercadolibre by 9.8% during the second quarter. Westpac Banking Corp now owns 30,509 shares of the company’s stock worth $9,120,000 after purchasing an additional 2,716 shares during the period. Boston Advisors LLC acquired a new stake in shares of Mercadolibre during the second quarter worth $267,000. Legacy Advisors LLC acquired a new stake in shares of Mercadolibre during the second quarter worth $598,000. Finally, Nikko Asset Management Americas Inc. raised its position in shares of Mercadolibre by 41.5% during the second quarter. Nikko Asset Management Americas Inc. now owns 236,118 shares of the company’s stock worth $70,583,000 after purchasing an additional 69,279 shares during the period. 93.26% of the stock is owned by hedge funds and other institutional investors.

MELI has been the topic of a number of recent analyst reports. Stifel Nicolaus raised Mercadolibre from a “hold” rating to a “buy” rating and set a $380.00 target price on the stock in a research report on Tuesday, August 21st. KeyCorp set a $400.00 target price on Mercadolibre and gave the stock a “buy” rating in a research report on Wednesday, July 25th. They noted that the move was a valuation call. BidaskClub raised Mercadolibre from a “hold” rating to a “buy” rating in a research report on Friday, July 20th. ValuEngine lowered Mercadolibre from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 11th. Finally, BTIG Research initiated coverage on Mercadolibre in a research report on Tuesday. They set a “buy” rating and a $395.00 target price on the stock. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $362.62.

NASDAQ:MELI opened at $340.77 on Friday. The firm has a market cap of $14.56 billion, a P/E ratio of 134.69 and a beta of 1.96. Mercadolibre Inc has a 1-year low of $259.10 and a 1-year high of $417.91. The company has a current ratio of 1.62, a quick ratio of 1.61 and a debt-to-equity ratio of 1.62.

Mercadolibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, November 1st. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.13). The business had revenue of $355.30 million for the quarter, compared to analyst estimates of $352.75 million. Mercadolibre had a negative net margin of 7.04% and a negative return on equity of 9.47%. The firm’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.63 earnings per share. Equities research analysts predict that Mercadolibre Inc will post -0.93 EPS for the current year.

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Mercadolibre Profile

MercadoLibre, Inc hosts online commerce platforms in Latin America. It offers MercadoLibre Marketplace, an automated online commerce service for businesses and individuals to list items and conduct their sales and purchases online in a fixed-price or auction-based format. The company's Marketplace platform enables commerce through online classifieds for motor vehicles, vessels, aircraft, services, and real estate; and Internet users to browse through various products that are listed on its Website and to register with MercadoLibre to list and purchase items and services.

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Institutional Ownership by Quarter for Mercadolibre (NASDAQ:MELI)

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