Ardsley Advisory Partners LP Cuts Position in MercadoLibre, Inc. $MELI

Ardsley Advisory Partners LP decreased its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 65.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,800 shares of the company’s stock after selling 3,350 shares during the period. Ardsley Advisory Partners LP’s holdings in MercadoLibre were worth $4,705,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MELI. Brooklyn Investment Group increased its stake in MercadoLibre by 650.0% in the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock valued at $29,000 after purchasing an additional 13 shares in the last quarter. Twin Tree Management LP purchased a new position in MercadoLibre during the 1st quarter valued at about $29,000. Saudi Central Bank acquired a new position in MercadoLibre during the first quarter worth about $35,000. McIlrath & Eck LLC raised its position in MercadoLibre by 375.0% during the first quarter. McIlrath & Eck LLC now owns 19 shares of the company’s stock worth $37,000 after acquiring an additional 15 shares during the last quarter. Finally, Highline Wealth Partners LLC lifted its holdings in shares of MercadoLibre by 366.7% in the second quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock valued at $37,000 after purchasing an additional 11 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MELI. Zacks Research upgraded shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 26th. Wedbush upped their price target on shares of MercadoLibre from $2,700.00 to $2,800.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Dbs Bank raised shares of MercadoLibre from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, December 2nd. Benchmark reduced their price target on MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. Finally, Cantor Fitzgerald lowered their target price on MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating for the company in a research note on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $2,848.82.

MercadoLibre Stock Down 0.7%

Shares of NASDAQ:MELI opened at $2,074.48 on Wednesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.15 and a current ratio of 1.17. The company’s fifty day moving average is $2,132.94 and its two-hundred day moving average is $2,324.56. MercadoLibre, Inc. has a 1-year low of $1,646.00 and a 1-year high of $2,645.22. The stock has a market capitalization of $105.18 billion, a price-to-earnings ratio of 50.62, a price-to-earnings-growth ratio of 1.50 and a beta of 1.42.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). MercadoLibre had a return on equity of 39.03% and a net margin of 7.93%.The company had revenue of $7.41 billion for the quarter, compared to analyst estimates of $7.19 billion. During the same quarter in the previous year, the company posted $7.83 earnings per share. The firm’s revenue for the quarter was up 39.5% compared to the same quarter last year. Equities analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current 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.