MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by HB Wealth Management LLC

HB Wealth Management LLC decreased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 5.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 218 shares of the company’s stock after selling 13 shares during the quarter. HB Wealth Management LLC’s holdings in MercadoLibre were worth $358,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. O Dell Group LLC increased its stake in MercadoLibre by 2.1% during the first quarter. O Dell Group LLC now owns 294 shares of the company’s stock worth $445,000 after acquiring an additional 6 shares during the last quarter. Wealthspire Advisors LLC increased its stake in MercadoLibre by 1.8% during the fourth quarter. Wealthspire Advisors LLC now owns 391 shares of the company’s stock worth $614,000 after acquiring an additional 7 shares during the last quarter. Independent Advisor Alliance increased its stake in MercadoLibre by 1.2% during the fourth quarter. Independent Advisor Alliance now owns 586 shares of the company’s stock worth $921,000 after acquiring an additional 7 shares during the last quarter. Hilltop National Bank increased its stake in MercadoLibre by 14.3% during the second quarter. Hilltop National Bank now owns 56 shares of the company’s stock worth $92,000 after acquiring an additional 7 shares during the last quarter. Finally, Contravisory Investment Management Inc. boosted its position in shares of MercadoLibre by 5.1% during the second quarter. Contravisory Investment Management Inc. now owns 143 shares of the company’s stock worth $235,000 after buying an additional 7 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Trading Up 2.3 %

NASDAQ:MELI opened at $2,061.66 on Friday. MercadoLibre, Inc. has a 12-month low of $1,141.04 and a 12-month high of $2,064.76. The company has a current ratio of 1.27, a quick ratio of 1.25 and a debt-to-equity ratio of 0.66. The firm has a market cap of $104.52 billion, a PE ratio of 92.24, a price-to-earnings-growth ratio of 1.13 and a beta of 1.60. The stock has a fifty day moving average price of $1,768.02 and a 200 day moving average price of $1,648.77.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, beating analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a return on equity of 45.61% and a net margin of 8.03%. The company had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $4.64 billion. During the same period last year, the firm earned $5.16 earnings per share. MercadoLibre’s quarterly revenue was up 41.5% on a year-over-year basis. Sell-side analysts anticipate that MercadoLibre, Inc. will post 33.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. StockNews.com lowered MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Barclays raised their price target on MercadoLibre from $2,000.00 to $2,100.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. JPMorgan Chase & Co. raised their price target on MercadoLibre from $2,150.00 to $2,400.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. The Goldman Sachs Group raised their price target on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, New Street Research lowered MercadoLibre from a “buy” rating to a “neutral” rating in a research report on Friday, May 24th. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,067.92.

MercadoLibre Profile

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.