Aviva PLC lowered its stake in shares of Mercadolibre Inc (NASDAQ:MELI) by 3.4% during the third quarter, Holdings Channel reports. The fund owned 19,480 shares of the company’s stock after selling 690 shares during the quarter. Aviva PLC’s holdings in Mercadolibre were worth $6,632,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently bought and sold shares of MELI. MayTech Global Investments LLC lifted its stake in shares of Mercadolibre by 6.0% in the 3rd quarter. MayTech Global Investments LLC now owns 21,376 shares of the company’s stock valued at $7,278,000 after purchasing an additional 1,214 shares in the last quarter. FDx Advisors Inc. acquired a new position in shares of Mercadolibre in the 3rd quarter valued at about $216,000. Credit Suisse AG lifted its stake in shares of Mercadolibre by 28.2% in the 3rd quarter. Credit Suisse AG now owns 80,567 shares of the company’s stock valued at $27,430,000 after purchasing an additional 17,730 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Mercadolibre in the 3rd quarter valued at about $22,505,000. Finally, DekaBank Deutsche Girozentrale lifted its stake in shares of Mercadolibre by 7.7% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 4,057 shares of the company’s stock valued at $1,453,000 after purchasing an additional 291 shares in the last quarter. 93.38% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently weighed in on MELI shares. Stifel Nicolaus raised Mercadolibre from a “hold” rating to a “buy” rating and set a $380.00 price objective 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. BidaskClub raised Mercadolibre from a “hold” rating to a “buy” rating in a research note on Tuesday, November 6th. BTIG Research started coverage on Mercadolibre in a research note on Tuesday, November 13th. They issued a “buy” rating and a $395.00 price objective on the stock. Finally, Zacks Investment Research raised Mercadolibre from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 23rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $362.62.
Shares of NASDAQ:MELI opened at $350.56 on Friday. The stock has a market cap of $16.04 billion, a P/E ratio of 138.56 and a beta of 2.07. The company has a current ratio of 1.62, a quick ratio of 1.61 and a debt-to-equity ratio of 1.62. Mercadolibre Inc has a one year low of $268.90 and a one year high of $417.91.
Mercadolibre (NASDAQ:MELI) last announced its earnings results on Thursday, November 1st. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.13). The company had revenue of $355.30 million for the quarter, compared to analysts’ expectations of $352.75 million. Mercadolibre had a negative net margin of 7.04% and a negative return on equity of 9.47%. The business’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.63 earnings per share. On average, equities analysts forecast that Mercadolibre Inc will post -0.99 earnings per share for the current year.
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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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