Algert Global LLC Sells 1,469 Shares of MercadoLibre, Inc. $MELI

Algert Global LLC lowered its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 39.9% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,215 shares of the company’s stock after selling 1,469 shares during the quarter. Algert Global LLC’s holdings in MercadoLibre were worth $3,760,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of MELI. Laurel Wealth Advisors LLC acquired a new position in shares of MercadoLibre in the fourth quarter valued at about $26,000. Transamerica Financial Advisors LLC acquired a new position in MercadoLibre during the fourth quarter worth $26,000. Purpose Unlimited Inc. acquired a new stake in MercadoLibre in the 4th quarter valued at about $28,000. Darwin Wealth Management LLC acquired a new stake in MercadoLibre in the second quarter valued at approximately $29,000. Finally, Curio Wealth LLC acquired a new position in MercadoLibre during the 4th quarter worth approximately $30,000. Institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

MELI has been the topic of a number of research reports. Raymond James Financial set a $2,000.00 price objective on shares of MercadoLibre in a research note on Friday, May 8th. Daiwa Securities Group lowered shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price target on the stock. in a report on Friday, May 8th. Weiss Ratings restated a “hold (c)” rating on shares of MercadoLibre in a research note on Thursday, July 2nd. UBS Group reduced their target price on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. Finally, Morgan Stanley lowered their target price on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. Eleven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $2,272.00.

MercadoLibre Stock Up 1.8%

MELI opened at $1,966.25 on Friday. The firm’s fifty day moving average price is $1,824.45 and its two-hundred day moving average price is $1,772.36. The company has a market capitalization of $99.69 billion, a P/E ratio of 53.47, a P/E/G ratio of 1.32 and a beta of 1.34. MercadoLibre, Inc. has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,548.50. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $9.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.65 by $0.54. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The firm had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.79 billion. During the same quarter in the prior year, the business earned $10.31 EPS. The business’s revenue for the quarter was up 49.8% compared to the same quarter last year. On average, analysts anticipate that MercadoLibre, Inc. will post 39.11 EPS for the current year.

About MercadoLibre

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.