Deltec Asset Management LLC Trims Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

by · The Markets Daily

Deltec Asset Management LLC lessened its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 40.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,300 shares of the company’s stock after selling 875 shares during the quarter. Deltec Asset Management LLC’s holdings in MercadoLibre were worth $2,668,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Capital World Investors raised its holdings in MercadoLibre by 12.7% in the 1st quarter. Capital World Investors now owns 845,749 shares of the company’s stock valued at $1,278,738,000 after acquiring an additional 95,029 shares during the last quarter. GQG Partners LLC increased its stake in MercadoLibre by 442.2% in the first quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock valued at $1,201,679,000 after purchasing an additional 648,198 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in MercadoLibre by 43.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock worth $1,167,073,000 after buying an additional 232,787 shares during the period. Janus Henderson Group PLC boosted its stake in MercadoLibre by 55.8% in the 1st quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock worth $557,225,000 after buying an additional 132,028 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in MercadoLibre by 3.6% in the 2nd quarter. Legal & General Group Plc now owns 323,570 shares of the company’s stock valued at $531,755,000 after buying an additional 11,265 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on MELI shares. Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 11th. JPMorgan Chase & Co. lowered shares of MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 price target on the stock. in a report on Wednesday, October 2nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $2,530.00 target price on shares of MercadoLibre in a report on Monday, October 7th. Barclays raised their price objective on MercadoLibre from $2,100.00 to $2,500.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Finally, BTIG Research raised their price target on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,301.67.

Read Our Latest Analysis on MELI

MercadoLibre Stock Down 1.4 %

Shares of MercadoLibre stock opened at $2,026.57 on Wednesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26. MercadoLibre, Inc. has a 1-year low of $1,205.80 and a 1-year high of $2,161.73. The business has a 50-day moving average of $2,048.06 and a 200-day moving average of $1,793.83. The company has a market capitalization of $102.74 billion, a PE ratio of 90.67, a P/E/G ratio of 1.26 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI – Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.53 by $1.95. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The company had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same period in the previous year, the business earned $5.16 EPS. MercadoLibre’s revenue for the quarter was up 41.5% compared to the same quarter last year. As a group, equities analysts forecast that MercadoLibre, Inc. will post 37.55 EPS for the current fiscal year.

About MercadoLibre

(Free Report)

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.

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