AE Wealth Management LLC acquired a new position in shares of Mercadolibre Inc (NASDAQ:MELI) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 1,736 shares of the company’s stock, valued at approximately $519,000.
Other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its position in shares of Mercadolibre by 59.7% during the 1st quarter. SG Americas Securities LLC now owns 3,338 shares of the company’s stock valued at $1,190,000 after buying an additional 1,248 shares during the last quarter. M&T Bank Corp lifted its position in shares of Mercadolibre by 87.9% during the 1st quarter. M&T Bank Corp now owns 1,240 shares of the company’s stock valued at $441,000 after buying an additional 580 shares during the last quarter. State of Wisconsin Investment Board lifted its position in shares of Mercadolibre by 32.5% during the 1st quarter. State of Wisconsin Investment Board now owns 37,019 shares of the company’s stock valued at $13,193,000 after buying an additional 9,084 shares during the last quarter. American International Group Inc. lifted its position in shares of Mercadolibre by 23.5% during the 1st quarter. American International Group Inc. now owns 3,079 shares of the company’s stock valued at $1,097,000 after buying an additional 585 shares during the last quarter. Finally, Aperio Group LLC lifted its position in shares of Mercadolibre by 7.3% during the 1st quarter. Aperio Group LLC now owns 2,630 shares of the company’s stock valued at $937,000 after buying an additional 178 shares during the last quarter. 95.21% of the stock is owned by institutional investors and hedge funds.
MELI has been the topic of a number of recent research reports. Morgan Stanley dropped their price target on Mercadolibre from $330.00 to $260.00 and set an “underweight” rating on the stock in a research report on Tuesday, May 29th. Stifel Nicolaus boosted their price objective on Mercadolibre from $360.00 to $380.00 and gave the company a “hold” rating in a research note on Thursday, August 9th. BidaskClub lowered Mercadolibre from a “hold” rating to a “sell” rating in a research note on Tuesday, August 21st. KeyCorp set a $400.00 price objective on Mercadolibre and gave the company a “buy” rating in a research note on Wednesday, July 25th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded Mercadolibre from a “strong sell” rating to a “hold” rating in a research note on Monday, July 16th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $356.92.
NASDAQ:MELI opened at $325.04 on Friday. The company has a debt-to-equity ratio of 2.15, a quick ratio of 1.15 and a current ratio of 1.15. Mercadolibre Inc has a 52-week low of $217.06 and a 52-week high of $417.91. The firm has a market cap of $13.99 billion, a P/E ratio of 128.47 and a beta of 2.06.
Mercadolibre (NASDAQ:MELI) last released its quarterly earnings data on Wednesday, August 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.04). Mercadolibre had a negative net margin of 4.39% and a positive return on equity of 4.32%. The company had revenue of $335.40 million for the quarter, compared to the consensus estimate of $333.98 million. During the same quarter in the previous year, the firm posted $0.61 earnings per share. The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. research analysts forecast that Mercadolibre Inc will post -0.43 earnings per share for the current year.
MercadoLibre, Inc hosts online commerce platforms in Latin America. It offers MercadoLibre Marketplace, an automated online commerce service for businesses and individuals to list items and conduct their sales and purchases online in a fixed-price or auction-based format. The company's Marketplace platform enables commerce through online classifieds for motor vehicles, vessels, aircraft, services, and real estate; and Internet users to browse through various products that are listed on its Website and to register with MercadoLibre to list and purchase items and services.
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