Cresset Asset Management LLC reduced its stake in MercadoLibre, Inc. (NASDAQ:MELI – Get Rating) by 18.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,069 shares of the company’s stock after selling 479 shares during the quarter. Cresset Asset Management LLC’s holdings in MercadoLibre were worth $2,461,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Verdence Capital Advisors LLC acquired a new position in shares of MercadoLibre in the first quarter worth approximately $353,000. Van ECK Associates Corp lifted its stake in shares of MercadoLibre by 58.1% in the first quarter. Van ECK Associates Corp now owns 220,373 shares of the company’s stock worth $262,129,000 after acquiring an additional 80,954 shares during the period. O Shaughnessy Asset Management LLC lifted its stake in shares of MercadoLibre by 108.3% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 225 shares of the company’s stock worth $303,000 after acquiring an additional 117 shares during the period. Level Four Advisory Services LLC lifted its stake in shares of MercadoLibre by 147.0% in the first quarter. Level Four Advisory Services LLC now owns 368 shares of the company’s stock worth $438,000 after acquiring an additional 219 shares during the period. Finally, Advisory Alpha LLC lifted its stake in shares of MercadoLibre by 7.4% in the first quarter. Advisory Alpha LLC now owns 217 shares of the company’s stock worth $259,000 after acquiring an additional 15 shares during the period. 89.00% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the company. StockNews.com upgraded MercadoLibre from a “sell” rating to a “hold” rating in a report on Thursday, August 4th. Credit Suisse Group lifted their target price on MercadoLibre from $1,430.00 to $1,470.00 and gave the stock an “outperform” rating in a report on Thursday, August 4th. JPMorgan Chase & Co. lifted their target price on MercadoLibre from $1,300.00 to $1,350.00 in a report on Monday, August 8th. Stifel Nicolaus lowered their target price on MercadoLibre from $1,200.00 to $1,000.00 in a report on Friday, July 15th. Finally, KGI Securities assumed coverage on MercadoLibre in a report on Monday, June 6th. They issued an “outperform” rating for the company. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,388.18.
MercadoLibre Trading Up 5.3 %
MercadoLibre (NASDAQ:MELI – Get Rating) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.75. MercadoLibre had a return on equity of 19.66% and a net margin of 2.68%. During the same quarter in the prior year, the company earned $1.37 earnings per share. As a group, equities analysts expect that MercadoLibre, Inc. will post 7.78 earnings per share for the current fiscal year.
MercadoLibre, Inc operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; 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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