Creative Planning Trims Stake in Mercadolibre Inc (MELI)

Creative Planning reduced its position in shares of Mercadolibre Inc (NASDAQ:MELI) by 14.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,679 shares of the company’s stock after selling 285 shares during the period. Creative Planning’s holdings in Mercadolibre were worth $572,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. acquired a new position in shares of Mercadolibre in the first quarter worth approximately $316,000. Suntrust Banks Inc. lifted its stake in shares of Mercadolibre by 36.5% in the first quarter. Suntrust Banks Inc. now owns 1,234 shares of the company’s stock worth $439,000 after acquiring an additional 330 shares during the period. IFM Investors Pty Ltd lifted its stake in shares of Mercadolibre by 43.9% in the second quarter. IFM Investors Pty Ltd now owns 1,968 shares of the company’s stock worth $588,000 after acquiring an additional 600 shares during the period. DAVENPORT & Co LLC lifted its stake in shares of Mercadolibre by 119.1% in the second quarter. DAVENPORT & Co LLC now owns 94,909 shares of the company’s stock worth $28,371,000 after acquiring an additional 51,588 shares during the period. Finally, Confluence Investment Management LLC acquired a new position in shares of Mercadolibre in the second quarter worth approximately $295,000. Institutional investors own 95.42% of the company’s stock.

MELI has been the topic of a number of recent analyst reports. KeyCorp set a $400.00 price objective on Mercadolibre and gave the stock a “buy” rating in a research note on Wednesday, July 25th. They noted that the move was a valuation call. BidaskClub raised Mercadolibre from a “hold” rating to a “buy” rating in a research note on Friday, July 20th. Stifel Nicolaus raised Mercadolibre from a “hold” rating to a “buy” rating and set a $380.00 price target on the stock in a research note on Tuesday, August 21st. ValuEngine lowered Mercadolibre from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 11th. Finally, Zacks Investment Research raised Mercadolibre from a “strong sell” rating to a “hold” rating in a research note on Monday, July 16th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Mercadolibre currently has a consensus rating of “Buy” and an average target price of $359.92.

Shares of MELI opened at $357.62 on Tuesday. Mercadolibre Inc has a 52-week low of $250.83 and a 52-week high of $417.91. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 2.15. The company has a market capitalization of $15.65 billion, a price-to-earnings ratio of 141.35 and a beta of 1.96.

Mercadolibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, November 1st. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.13). Mercadolibre had a negative net margin of 7.04% and a negative return on equity of 10.41%. The business had revenue of $355.30 million during the quarter, compared to analyst estimates of $352.75 million. During the same period last year, the firm posted $0.63 earnings per share. Mercadolibre’s quarterly revenue was up 16.5% compared to the same quarter last year. Equities analysts predict that Mercadolibre Inc will post -0.61 earnings per share for the current year.

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Mercadolibre Company Profile

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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Institutional Ownership by Quarter for Mercadolibre (NASDAQ:MELI)

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