TownSquare Capital LLC lowered its stake in MercadoLibre, Inc. (NASDAQ:MELI – Get Rating) by 20.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 452 shares of the company’s stock after selling 113 shares during the period. TownSquare Capital LLC’s holdings in MercadoLibre were worth $288,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. FinTrust Capital Advisors LLC increased its holdings in shares of MercadoLibre by 120.0% in the second quarter. FinTrust Capital Advisors LLC now owns 33 shares of the company’s stock valued at $25,000 after purchasing an additional 18 shares in the last quarter. Prospera Financial Services Inc acquired a new stake in shares of MercadoLibre in the first quarter valued at approximately $31,000. San Luis Wealth Advisors LLC acquired a new stake in shares of MercadoLibre in the first quarter valued at approximately $31,000. Glassman Wealth Services increased its holdings in shares of MercadoLibre by 127.3% in the second quarter. Glassman Wealth Services now owns 50 shares of the company’s stock valued at $32,000 after purchasing an additional 28 shares in the last quarter. Finally, Amalgamated Bank acquired a new stake in shares of MercadoLibre in the first quarter valued at approximately $38,000. Institutional investors and hedge funds own 89.00% of the company’s stock.
Analysts Set New Price Targets
MELI has been the subject of a number of research reports. Jefferies Financial Group lowered their price target on shares of MercadoLibre from $990.00 to $970.00 and set a “hold” rating for the company in a report on Thursday, October 6th. StockNews.com assumed coverage on shares of MercadoLibre in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Credit Suisse Group reduced their price objective on shares of MercadoLibre from $1,470.00 to $1,400.00 and set an “outperform” rating on the stock in a research note on Monday, October 31st. Barclays reduced their price objective on shares of MercadoLibre from $1,500.00 to $1,250.00 and set an “overweight” rating on the stock in a research note on Thursday, August 4th. Finally, Citigroup reduced their price objective on shares of MercadoLibre from $1,150.00 to $1,050.00 and set a “buy” rating on the stock in a research note on Thursday, November 3rd. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, MercadoLibre currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,317.00.
MercadoLibre Trading Up 4.2 %
MercadoLibre (NASDAQ:MELI – Get Rating) last announced its quarterly earnings results on Thursday, November 3rd. The company reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.25. The company had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.69 billion. MercadoLibre had a net margin of 2.80% and a return on equity of 17.11%. The business’s quarterly revenue was up 41.6% compared to the same quarter last year. During the same period last year, the firm posted $1.92 earnings per share. Equities research analysts predict that MercadoLibre, Inc. will post 8.16 EPS for the current year.
MercadoLibre Company Profile
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.
- Get a free copy of the StockNews.com research report on MercadoLibre (MELI)
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