Nwam LLC Trims Stake in MercadoLibre, Inc. $MELI

Nwam LLC cut its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 10.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,600 shares of the company’s stock after selling 180 shares during the period. Nwam LLC’s holdings in MercadoLibre were worth $3,810,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Key Financial Inc purchased a new position in shares of MercadoLibre in the first quarter valued at approximately $25,000. GW&K Investment Management LLC acquired a new position in MercadoLibre during the 1st quarter worth approximately $25,000. Close Asset Management Ltd increased its holdings in MercadoLibre by 366.7% in the first quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock valued at $27,000 after buying an additional 11 shares during the last quarter. Brooklyn Investment Group increased its holdings in shares of 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 acquiring an additional 13 shares during the last quarter. Finally, Twin Tree Management LP acquired a new stake in MercadoLibre during the first quarter worth approximately $29,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Down 0.8%

Shares of NASDAQ MELI opened at $2,092.04 on Tuesday. The stock’s 50 day moving average price is $2,282.74 and its two-hundred day moving average price is $2,378.38. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week high of $2,645.22. The stock has a market capitalization of $106.06 billion, a P/E ratio of 51.05, a PEG ratio of 1.56 and a beta of 1.51. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). The business had revenue of $7.41 billion during the quarter, compared to the consensus estimate of $7.19 billion. MercadoLibre had a return on equity of 41.35% and a net margin of 7.93%.The business’s revenue was up 39.5% on a year-over-year basis. During the same period in the prior year, the business earned $7.83 EPS. On average, analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on MELI. Barclays boosted their price objective on MercadoLibre from $2,800.00 to $2,900.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Scotiabank initiated coverage on MercadoLibre in a research note on Monday, July 28th. They issued a “sector outperform” rating and a $3,500.00 price target on the stock. Benchmark reduced their price objective on shares of MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. Wedbush boosted their target price on MercadoLibre from $2,700.00 to $2,800.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Finally, Citigroup lowered their price target on shares of MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating on the stock in a research report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,861.25.

MercadoLibre Company 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.