Saturna Capital Corp Sells 190 Shares of MercadoLibre, Inc. $MELI

Saturna Capital Corp lowered its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 7.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,360 shares of the company’s stock after selling 190 shares during the quarter. Saturna Capital Corp’s holdings in MercadoLibre were worth $6,168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Invesco Ltd. grew 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of MercadoLibre by 21.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company’s stock valued at $1,073,823,000 after purchasing an additional 96,283 shares in the last quarter. GQG Partners LLC boosted its position in shares of MercadoLibre by 23.5% during the first quarter. GQG Partners LLC now owns 461,875 shares of the company’s stock valued at $901,058,000 after purchasing an additional 87,912 shares in the last quarter. Jennison Associates LLC grew its stake in MercadoLibre by 7.0% in the second quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock worth $3,228,460,000 after purchasing an additional 81,124 shares during the period. Finally, Massachusetts Financial Services Co. MA bought a new position in MercadoLibre in the second quarter worth $198,244,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Stock Performance

Shares of MELI stock opened at $2,058.81 on Wednesday. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. The company has a 50 day moving average price of $2,244.58 and a 200-day moving average price of $2,369.78. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22. The firm has a market capitalization of $104.38 billion, a PE ratio of 50.24, a P/E/G ratio of 1.56 and a beta of 1.51.

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 the consensus estimate of $9.88 by ($1.56). MercadoLibre had a return on equity of 41.35% and a net margin of 7.93%.The company had revenue of $7.41 billion during the quarter, compared to analysts’ expectations of $7.19 billion. During the same quarter in the prior year, the business posted $7.83 EPS. The company’s revenue for the quarter was up 39.5% compared to the same quarter last year. As a group, equities research analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analyst Weigh In

MELI has been the topic of a number of research reports. Susquehanna dropped 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 report on Monday, October 13th. Morgan Stanley lifted their price target on shares of MercadoLibre from $2,850.00 to $2,950.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Citigroup cut their price objective on shares of MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating on the stock in a report on Thursday, October 9th. BTIG Research reissued a “buy” rating and issued a $2,750.00 price target on shares of MercadoLibre in a research report on Friday, November 14th. Finally, Barclays raised their price objective on MercadoLibre from $2,800.00 to $2,900.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $2,854.71.

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.