Alliancebernstein L.P. Sells 32,062 Shares of MercadoLibre, Inc. $MELI

Alliancebernstein L.P. decreased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 30.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 72,239 shares of the company’s stock after selling 32,062 shares during the period. Alliancebernstein L.P. owned 0.14% of MercadoLibre worth $168,818,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Highview Capital Management LLC DE bought a new stake in MercadoLibre in the second quarter worth about $559,000. Weitz Investment Management Inc. purchased a new position in MercadoLibre in the third quarter valued at about $8,647,000. Barlow Wealth Partners Inc. grew its position in shares of MercadoLibre by 126.7% during the 3rd quarter. Barlow Wealth Partners Inc. now owns 11,505 shares of the company’s stock valued at $26,886,000 after acquiring an additional 6,429 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of MercadoLibre by 14.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 86,699 shares of the company’s stock valued at $202,610,000 after acquiring an additional 10,849 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of MercadoLibre by 18.7% during the 3rd quarter. Principal Financial Group Inc. now owns 48,103 shares of the company’s stock worth $112,414,000 after purchasing an additional 7,570 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Up 3.7%

MELI opened at $1,732.33 on Tuesday. MercadoLibre, Inc. has a 12 month low of $1,631.18 and a 12 month high of $2,645.22. The company has a market cap of $87.83 billion, a PE ratio of 43.97, a price-to-earnings-growth ratio of 0.89 and a beta of 1.48. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68. The company has a 50 day moving average of $1,987.89 and a 200 day moving average of $2,110.20.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Tuesday, February 24th. The company reported $11.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.66 by ($0.63). The business had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.45 billion. MercadoLibre had a net margin of 6.91% and a return on equity of 33.73%. The company’s revenue was up 44.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $12.61 EPS. On average, sell-side analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MELI. Barclays lowered their price target on shares of MercadoLibre from $2,900.00 to $2,600.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. BTIG Research decreased their target price on MercadoLibre from $2,750.00 to $2,650.00 and set a “buy” rating for the company in a research report on Wednesday, February 25th. Dbs Bank upgraded MercadoLibre from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, December 2nd. Zacks Research raised MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Friday, February 6th. Finally, Cantor Fitzgerald cut their price target on MercadoLibre from $2,750.00 to $2,400.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $2,725.33.

MercadoLibre Company Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.