MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Allworth Financial LP

Allworth Financial LP decreased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 36.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 81 shares of the company’s stock after selling 46 shares during the quarter. Allworth Financial LP’s holdings in MercadoLibre were worth $127,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Salem Investment Counselors Inc. grew its position in shares of MercadoLibre by 500.0% in the 3rd quarter. Salem Investment Counselors Inc. now owns 24 shares of the company’s stock worth $30,000 after acquiring an additional 20 shares in the last quarter. Proffitt & Goodson Inc. acquired a new position in MercadoLibre during the 3rd quarter valued at approximately $32,000. Blue Trust Inc. boosted its position in MercadoLibre by 56.3% during the 4th quarter. Blue Trust Inc. now owns 25 shares of the company’s stock valued at $39,000 after purchasing an additional 9 shares during the period. Castleview Partners LLC boosted its position in MercadoLibre by 58.8% during the 2nd quarter. Castleview Partners LLC now owns 27 shares of the company’s stock valued at $32,000 after purchasing an additional 10 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new position in MercadoLibre during the 3rd quarter valued at approximately $36,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on MELI. Barclays reduced their price objective on MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating for the company in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. boosted their price objective on MercadoLibre from $2,000.00 to $2,150.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. Citigroup reduced their price objective on MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating for the company in a research report on Wednesday, March 27th. StockNews.com lowered MercadoLibre from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. Finally, Wedbush reaffirmed an “outperform” rating and set a $2,000.00 target price on shares of MercadoLibre in a research note on Tuesday, March 5th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,806.15.

MercadoLibre Stock Down 4.2 %

MELI opened at $1,444.14 on Friday. MercadoLibre, Inc. has a one year low of $1,063.02 and a one year high of $1,825.00. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.27. The stock’s fifty day moving average is $1,594.55 and its 200-day moving average is $1,519.20. The company has a market capitalization of $73.22 billion, a PE ratio of 73.91, a P/E/G ratio of 0.95 and a beta of 1.44.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $3.25 EPS for the quarter, missing analysts’ consensus estimates of $6.66 by ($3.41). MercadoLibre had a return on equity of 39.07% and a net margin of 6.82%. The firm had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.14 billion. During the same period in the prior year, the firm posted $3.25 EPS. The firm’s quarterly revenue was up 42.0% on a year-over-year basis. On average, equities analysts predict that MercadoLibre, Inc. will post 35.89 EPS for the current fiscal year.

About MercadoLibre

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; 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.