LGT Fund Management Co Ltd. Has $2.45 Million Stake in MercadoLibre, Inc. $MELI

LGT Fund Management Co Ltd. trimmed its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 9.0% in the second quarter, Holdings Channel.com reports. The fund owned 937 shares of the company’s stock after selling 93 shares during the quarter. LGT Fund Management Co Ltd.’s holdings in MercadoLibre were worth $2,449,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Hudson Valley Investment Advisors Inc. ADV acquired a new stake in shares of MercadoLibre during the 2nd quarter worth about $5,089,000. NTV Asset Management LLC acquired a new stake in MercadoLibre in the 2nd quarter valued at about $261,000. 111 Capital acquired a new stake in MercadoLibre in the 2nd quarter valued at about $1,085,000. Impact Investors Inc increased its position in MercadoLibre by 8.9% in the 2nd quarter. Impact Investors Inc now owns 147 shares of the company’s stock valued at $383,000 after acquiring an additional 12 shares in the last quarter. Finally, Matthews International Capital Management LLC boosted its stake in shares of MercadoLibre by 13.7% in the 2nd quarter. Matthews International Capital Management LLC now owns 1,681 shares of the company’s stock valued at $4,394,000 after purchasing an additional 202 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

Analyst Ratings Changes

MELI has been the topic of several recent research reports. Susquehanna reaffirmed a “positive” rating and issued a $2,975.00 target price (up previously from $2,840.00) on shares of MercadoLibre in a research note on Thursday, June 26th. JPMorgan Chase & Co. cut their price target on shares of MercadoLibre from $2,700.00 to $2,600.00 and set a “neutral” rating on the stock in a research note on Friday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of MercadoLibre in a research note on Saturday, September 27th. Cantor Fitzgerald boosted their price objective on shares of MercadoLibre from $2,700.00 to $2,900.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 24th. Finally, Raymond James Financial restated a “strong-buy” rating and set a $2,750.00 target price on shares of MercadoLibre in a report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $2,822.78.

MercadoLibre Trading Down 3.3%

Shares of MercadoLibre stock opened at $2,172.75 on Friday. The firm has a 50-day moving average of $2,382.29 and a 200-day moving average of $2,341.63. The stock has a market cap of $110.16 billion, a PE ratio of 53.66, a PEG ratio of 1.49 and a beta of 1.46. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week high of $2,645.22. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $12.01 by ($1.70). The business had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The company’s revenue was up 33.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $10.48 EPS. As a group, sell-side analysts forecast 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.