Blue Trust Inc. Sells 7 Shares of MercadoLibre, Inc. $MELI

Blue Trust Inc. trimmed its position in MercadoLibre, Inc. (NASDAQ:MELI) by 18.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30 shares of the company’s stock after selling 7 shares during the period. Blue Trust Inc.’s holdings in MercadoLibre were worth $78,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Invesco Ltd. lifted its holdings in shares of MercadoLibre by 22.4% during the 1st quarter. Invesco Ltd. now owns 570,967 shares of the company’s stock worth $1,113,881,000 after acquiring an additional 104,554 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of MercadoLibre by 21.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company’s stock worth $1,073,823,000 after acquiring an additional 96,283 shares during the last quarter. GQG Partners LLC lifted its holdings in shares of MercadoLibre by 23.5% during the 1st quarter. GQG Partners LLC now owns 461,875 shares of the company’s stock worth $901,058,000 after acquiring an additional 87,912 shares during the last quarter. Nuveen LLC bought a new stake in shares of MercadoLibre during the 1st quarter worth $143,367,000. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of MercadoLibre by 18.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 450,444 shares of the company’s stock worth $878,757,000 after acquiring an additional 70,834 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on MELI shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of MercadoLibre in a report on Wednesday, October 8th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $2,750.00 price objective on shares of MercadoLibre in a report on Tuesday, August 5th. Scotiabank began coverage on shares of MercadoLibre in a research report on Monday, July 28th. They issued a “sector outperform” rating and a $3,500.00 target price on the stock. Jefferies Financial Group reiterated a “hold” rating and issued a $2,800.00 target price on shares of MercadoLibre in a research report on Tuesday, August 5th. Finally, Susquehanna decreased their target price on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a research report on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $2,810.88.

MercadoLibre Price Performance

MELI stock opened at $2,024.98 on Friday. The firm’s 50-day moving average price is $2,336.31 and its two-hundred day moving average price is $2,346.74. MercadoLibre, Inc. has a 12-month low of $1,646.00 and a 12-month high of $2,645.22. The stock has a market capitalization of $102.67 billion, a price-to-earnings ratio of 50.01, a PEG ratio of 1.38 and a beta of 1.46. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data 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). MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The firm had revenue of $6.79 billion during the quarter, compared to analysts’ expectations of $6.57 billion. During the same quarter in the previous year, the firm posted $10.48 EPS. MercadoLibre’s revenue was up 33.8% compared to the same quarter last year. As a group, equities analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

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.