River & Mercantile Asset Management LLP reduced its position in Mercadolibre Inc (NASDAQ:MELI) by 28.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,298 shares of the company’s stock after selling 22,581 shares during the quarter. Mercadolibre accounts for approximately 1.8% of River & Mercantile Asset Management LLP’s investment portfolio, making the stock its 5th largest holding. River & Mercantile Asset Management LLP owned approximately 0.13% of Mercadolibre worth $19,506,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Jefferies Group LLC purchased a new stake in Mercadolibre in the third quarter valued at approximately $5,491,000. Dorsal Capital Management LLC boosted its position in Mercadolibre by 144.4% in the third quarter. Dorsal Capital Management LLC now owns 220,000 shares of the company’s stock valued at $74,903,000 after buying an additional 130,000 shares during the last quarter. First Republic Investment Management Inc. purchased a new stake in Mercadolibre in the third quarter valued at approximately $284,000. Assetmark Inc. boosted its position in Mercadolibre by 13.6% in the third quarter. Assetmark Inc. now owns 7,630 shares of the company’s stock valued at $2,598,000 after buying an additional 912 shares during the last quarter. Finally, OppenheimerFunds Inc. boosted its position in Mercadolibre by 25.7% in the third quarter. OppenheimerFunds Inc. now owns 613,148 shares of the company’s stock valued at $208,760,000 after buying an additional 125,484 shares during the last quarter. Hedge funds and other institutional investors own 93.38% of the company’s stock.
A number of brokerages recently commented on MELI. Stifel Nicolaus upped their target price on Mercadolibre from $360.00 to $380.00 and gave the company a “hold” rating in a research report on Thursday, August 9th. Barclays upped their target price on Mercadolibre from $365.00 to $375.00 and gave the company an “overweight” rating in a research report on Thursday, August 9th. ValuEngine lowered Mercadolibre from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 11th. BidaskClub upgraded Mercadolibre from a “sell” rating to a “hold” rating in a research report on Wednesday, August 29th. Finally, Zacks Investment Research downgraded Mercadolibre from a “hold” rating to a “sell” rating in a report on Tuesday, August 14th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $362.62.
NASDAQ:MELI traded up $0.67 during trading hours on Friday, reaching $351.23. The company had a trading volume of 1,474 shares, compared to its average volume of 562,048. Mercadolibre Inc has a 1-year low of $268.90 and a 1-year high of $417.91. The company has a market capitalization of $16.04 billion, a PE ratio of 139.35 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 (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, November 1st. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.13). Mercadolibre had a negative net margin of 7.04% and a negative return on equity of 9.47%. The company had revenue of $355.30 million during the quarter, compared to analyst estimates of $352.75 million. During the same period in the previous year, the firm posted $0.63 earnings per share. The company’s revenue was up 16.5% compared to the same quarter last year. Equities research analysts predict that Mercadolibre Inc will post -0.99 earnings per share for the current fiscal 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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