MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Empirical Financial Services LLC d.b.a. Empirical Wealth Management reduced its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 5.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 150 shares of the company’s stock after selling 9 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in MercadoLibre were worth $293,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MELI. Capital International Investors increased its position in MercadoLibre by 38.7% during the fourth quarter. Capital International Investors now owns 1,687,114 shares of the company’s stock worth $2,868,869,000 after purchasing an additional 470,829 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of MercadoLibre by 41.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company’s stock valued at $2,370,848,000 after acquiring an additional 405,425 shares during the last quarter. Capital World Investors increased its position in shares of MercadoLibre by 24.5% during the fourth quarter. Capital World Investors now owns 1,568,602 shares of the company’s stock valued at $2,667,386,000 after acquiring an additional 308,973 shares during the last quarter. Capital Research Global Investors increased its position in shares of MercadoLibre by 8.0% during the fourth quarter. Capital Research Global Investors now owns 2,415,815 shares of the company’s stock valued at $4,108,079,000 after acquiring an additional 179,807 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of MercadoLibre by 170.9% during the first quarter. Assenagon Asset Management S.A. now owns 274,960 shares of the company’s stock valued at $536,411,000 after acquiring an additional 173,449 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Stock Up 0.1%

Shares of MercadoLibre stock opened at $2,375.92 on Monday. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week high of $2,645.22. The company has a 50 day moving average of $2,455.84 and a 200 day moving average of $2,229.19. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $120.46 billion, a P/E ratio of 58.43, a P/E/G ratio of 1.41 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.82 by $1.92. MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. The company had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.55 billion. During the same quarter in the previous year, the firm earned $6.78 earnings per share. The firm’s quarterly revenue was up 37.0% on a year-over-year basis. As a group, research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of MercadoLibre from $2,250.00 to $2,600.00 and gave the company a “neutral” rating in a research report on Thursday, May 22nd. Wall Street Zen cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Sunday, June 22nd. Scotiabank assumed coverage on shares of MercadoLibre in a research report on Monday, July 28th. They set a “sector outperform” rating and a $3,500.00 price target for the company. Susquehanna reiterated a “positive” rating and set a $2,975.00 price target (up from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. Finally, Daiwa Capital Markets initiated coverage on shares of MercadoLibre in a research report on Friday. They set a “buy” rating and a $3,000.00 price target for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $2,707.50.

MercadoLibre Company 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.