MercadoLibre, Inc. $MELI Shares Sold by Miller Financial Services LLC

Miller Financial Services LLC lowered its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 14.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 184 shares of the company’s stock after selling 30 shares during the period. Miller Financial Services LLC’s holdings in MercadoLibre were worth $481,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of MELI. TD Waterhouse Canada Inc. boosted its stake in shares of MercadoLibre by 46.5% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 3,945 shares of the company’s stock valued at $9,843,000 after buying an additional 1,252 shares during the last quarter. VSM Wealth Advisory LLC boosted its stake in MercadoLibre by 1,300.0% during the 2nd quarter. VSM Wealth Advisory LLC now owns 28 shares of the company’s stock valued at $73,000 after acquiring an additional 26 shares during the last quarter. FineMark National Bank & Trust bought a new position in MercadoLibre during the 2nd quarter valued at $476,000. Highview Capital Management LLC DE acquired a new position in MercadoLibre during the 2nd quarter worth $559,000. Finally, Wealthspire Advisors LLC increased its position in shares of MercadoLibre by 22.9% in the 2nd quarter. Wealthspire Advisors LLC now owns 430 shares of the company’s stock worth $1,124,000 after purchasing an additional 80 shares during the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Citigroup reduced 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. Weiss Ratings restated a “buy (b-)” rating on shares of MercadoLibre in a research note on Friday, October 31st. BTIG Research reiterated a “buy” rating and issued a $2,750.00 target price on shares of MercadoLibre in a research report on Friday, November 14th. Morgan Stanley boosted their price target on MercadoLibre from $2,850.00 to $2,950.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. Finally, Susquehanna dropped their price objective on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a research note on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and a consensus target price of $2,854.71.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $2,077.18 on Thursday. The firm’s 50 day moving average is $2,239.14 and its two-hundred day moving average is $2,367.73. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $105.31 billion, a P/E ratio of 50.69, a PEG ratio of 1.56 and a beta of 1.51. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last released its quarterly 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). 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 company’s revenue for the quarter was up 39.5% compared to the same quarter last year. During the same period in the previous year, the company posted $7.83 EPS. Analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

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.