Greenland Capital Management LP Has $1.65 Million Holdings in MercadoLibre, Inc. $MELI

Greenland Capital Management LP lessened its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 52.2% in the second quarter, Holdings Channel.com reports. The institutional investor owned 970 shares of the company’s stock after selling 1,060 shares during the period. Greenland Capital Management LP’s holdings in MercadoLibre were worth $1,646,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brown Advisory Inc. lifted its stake in shares of MercadoLibre by 2,494.9% in the 4th quarter. Brown Advisory Inc. now owns 15,362 shares of the company’s stock valued at $30,943,000 after purchasing an additional 14,770 shares during the period. Thompson Siegel & Walmsley LLC grew its stake in MercadoLibre by 238.3% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,030 shares of the company’s stock worth $4,089,000 after purchasing an additional 1,430 shares during the period. TIAA Trust National Association increased its holdings in MercadoLibre by 10.9% in the fourth quarter. TIAA Trust National Association now owns 11,011 shares of the company’s stock worth $22,179,000 after purchasing an additional 1,083 shares in the last quarter. Deepwater Asset Management LLC increased its holdings in MercadoLibre by 38.6% in the fourth quarter. Deepwater Asset Management LLC now owns 7,765 shares of the company’s stock worth $15,641,000 after purchasing an additional 2,164 shares in the last quarter. Finally, Deutsche Bank AG acquired a new position in MercadoLibre in the second quarter valued at approximately $279,445,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Performance

MELI opened at $1,922.73 on Friday. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,548.50. The company has a market cap of $97.48 billion, a price-to-earnings ratio of 52.29, a PEG ratio of 1.32 and a beta of 1.34. The company’s fifty day moving average price is $1,793.05 and its two-hundred day moving average price is $1,775.94. 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 posted its earnings results on Wednesday, August 5th. The company reported $9.19 EPS for the quarter, topping the consensus estimate of $8.65 by $0.54. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The company had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.79 billion. During the same period in the previous year, the firm posted $10.31 earnings per share. The firm’s revenue for the quarter was up 49.8% on a year-over-year basis. On average, analysts expect that MercadoLibre, Inc. will post 39.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on MELI shares. UBS Group lowered their price objective on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. Benchmark cut their target price on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Morgan Stanley reduced their price target on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a report on Monday, May 11th. Citigroup lifted their price target on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Finally, Raymond James Financial set a $2,000.00 price objective on shares of MercadoLibre in a report on Friday, May 8th. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $2,272.00.

MercadoLibre Company Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.