Absoluto Partners Gestao de Recursos Ltda Sells 5,182 Shares of MercadoLibre, Inc. $MELI

Absoluto Partners Gestao de Recursos Ltda reduced its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 39.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,877 shares of the company’s stock after selling 5,182 shares during the period. MercadoLibre makes up about 12.5% of Absoluto Partners Gestao de Recursos Ltda’s portfolio, making the stock its 2nd biggest holding. Absoluto Partners Gestao de Recursos Ltda’s holdings in MercadoLibre were worth $20,588,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MELI. Brooklyn Investment Group boosted its holdings 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 during the period. Twin Tree Management LP acquired a new stake in shares of MercadoLibre during the 1st quarter worth $29,000. Darwin Wealth Management LLC acquired a new stake in shares of MercadoLibre during the 2nd quarter worth $29,000. Saudi Central Bank bought a new stake in shares of MercadoLibre during the 1st quarter worth approximately $35,000. Finally, McIlrath & Eck LLC increased its stake in shares of MercadoLibre by 375.0% in the 1st quarter. McIlrath & Eck LLC now owns 19 shares of the company’s stock valued at $37,000 after purchasing an additional 15 shares during the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $2,015.89 on Friday. The firm has a market cap of $102.21 billion, a price-to-earnings ratio of 49.19, a price-to-earnings-growth ratio of 1.45 and a beta of 1.42. MercadoLibre, Inc. has a 1-year low of $1,646.00 and a 1-year high of $2,645.22. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55. The stock has a fifty day simple moving average of $2,121.14 and a two-hundred day simple moving average of $2,316.57.

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

Insider Activity at MercadoLibre

In other news, Director Stelleo Tolda sold 246 shares of the firm’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $2,047.88, for a total transaction of $503,778.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Emiliano Calemzuk sold 45 shares of the stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $2,027.37, for a total value of $91,231.65. Following the transaction, the director owned 257 shares in the company, valued at $521,034.09. This trade represents a 14.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MELI. Wedbush boosted their target price on shares of MercadoLibre from $2,700.00 to $2,800.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Benchmark reduced their price objective on shares of MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating on the stock in a research note on Thursday, October 30th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of MercadoLibre in a research note on Friday, October 31st. Morgan Stanley raised their target price on MercadoLibre from $2,850.00 to $2,950.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd. Finally, Zacks Research raised MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 26th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus price target of $2,848.82.

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.