Candriam S.C.A. Sells 2,259 Shares of MercadoLibre, Inc. $MELI

Candriam S.C.A. trimmed its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 6.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,312 shares of the company’s stock after selling 2,259 shares during the quarter. Candriam S.C.A.’s holdings in MercadoLibre were worth $92,296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Invesco Ltd. boosted its holdings in MercadoLibre by 22.4% during the first quarter. Invesco Ltd. now owns 570,967 shares of the company’s stock worth $1,113,881,000 after purchasing an additional 104,554 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of MercadoLibre by 21.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company’s stock worth $1,073,823,000 after buying an additional 96,283 shares in the last quarter. GQG Partners LLC lifted its position in shares of MercadoLibre by 23.5% during the 1st quarter. GQG Partners LLC now owns 461,875 shares of the company’s stock worth $901,058,000 after buying an additional 87,912 shares in the last quarter. Jennison Associates LLC lifted its position in shares of MercadoLibre by 7.0% during the 2nd quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock worth $3,228,460,000 after buying an additional 81,124 shares in the last quarter. Finally, Nuveen LLC purchased a new position in shares of MercadoLibre in the 1st quarter worth approximately $143,367,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MELI. Morgan Stanley increased their price target on MercadoLibre from $2,850.00 to $2,950.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Barclays upped their price objective on MercadoLibre from $2,800.00 to $2,900.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Susquehanna lowered their target price on MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a research note on Monday, October 13th. Citigroup cut their price target on shares of MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating on the stock in a report on Thursday, October 9th. Finally, JPMorgan Chase & Co. raised their price objective on shares of MercadoLibre from $2,600.00 to $2,650.00 and gave the stock a “neutral” rating in a report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,861.25.

MercadoLibre Stock Up 0.2%

MELI stock opened at $2,103.91 on Thursday. The stock has a fifty day moving average of $2,271.75 and a 200-day moving average of $2,375.57. MercadoLibre, Inc. has a fifty-two week low of $1,646.00 and a fifty-two week high of $2,645.22. The company has a market capitalization of $106.66 billion, a price-to-earnings ratio of 51.34, a PEG ratio of 1.56 and a beta of 1.51. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $8.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). The firm had revenue of $7.41 billion during the quarter, compared to the consensus estimate of $7.19 billion. MercadoLibre had a net margin of 7.93% and a return on equity of 41.35%. The company’s revenue was up 39.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $7.83 earnings per share. As a group, equities research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

About MercadoLibre

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.