Genesis Investment Management LLP Sells 46,501 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Genesis Investment Management LLP trimmed its position in MercadoLibre, Inc. (NASDAQ:MELI) by 62.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 27,463 shares of the company’s stock after selling 46,501 shares during the period. MercadoLibre comprises about 8.4% of Genesis Investment Management LLP’s portfolio, making the stock its 5th largest holding. Genesis Investment Management LLP’s holdings in MercadoLibre were worth $43,159,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Raymond James Trust N.A. purchased a new position in MercadoLibre in the 1st quarter worth approximately $236,000. Cibc World Market Inc. lifted its stake in MercadoLibre by 6.1% in the 1st quarter. Cibc World Market Inc. now owns 659 shares of the company’s stock worth $784,000 after purchasing an additional 38 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in MercadoLibre by 8.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 189 shares of the company’s stock worth $225,000 after purchasing an additional 15 shares in the last quarter. Blair William & Co. IL lifted its stake in MercadoLibre by 10.1% in the 1st quarter. Blair William & Co. IL now owns 2,878 shares of the company’s stock worth $3,423,000 after purchasing an additional 264 shares in the last quarter. Finally, Cetera Investment Advisers lifted its stake in MercadoLibre by 25.1% in the 1st quarter. Cetera Investment Advisers now owns 1,048 shares of the company’s stock worth $1,247,000 after purchasing an additional 210 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Stock Up 0.6 %

Shares of NASDAQ:MELI traded up $7.77 during trading on Wednesday, hitting $1,405.65. The company’s stock had a trading volume of 125,790 shares, compared to its average volume of 382,971. The business has a 50 day moving average price of $1,581.12 and a two-hundred day moving average price of $1,524.73. The company has a market capitalization of $71.27 billion, a PE ratio of 71.54, a P/E/G ratio of 0.91 and a beta of 1.44. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.27. MercadoLibre, Inc. has a fifty-two week low of $1,063.02 and a fifty-two week high of $1,825.00.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $3.25 earnings per share for the quarter, missing analysts’ consensus estimates of $6.66 by ($3.41). MercadoLibre had a net margin of 6.82% and a return on equity of 39.07%. The company had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $4.14 billion. During the same period last year, the firm earned $3.25 earnings per share. MercadoLibre’s revenue was up 42.0% on a year-over-year basis. As a group, research analysts expect that MercadoLibre, Inc. will post 35.89 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on MELI shares. StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. Barclays reduced their price target on shares of MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 3rd. Citigroup reduced their price target on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating on the stock in a research report on Wednesday, March 27th. Wedbush reaffirmed an “outperform” rating and set a $2,000.00 price target on shares of MercadoLibre in a research report on Tuesday, March 5th. Finally, Susquehanna lifted their price target on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the company a “positive” rating in a research report on Friday, February 23rd. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,806.15.

MercadoLibre Profile

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.