Gabelli Funds LLC Sells 428 Shares of MercadoLibre, Inc. $MELI

Gabelli Funds LLC trimmed its position in MercadoLibre, Inc. (NASDAQ:MELI) by 48.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 453 shares of the company’s stock after selling 428 shares during the quarter. Gabelli Funds LLC’s holdings in MercadoLibre were worth $912,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Laurel Wealth Advisors LLC bought a new stake in shares of MercadoLibre in the fourth quarter valued at about $26,000. Darwin Wealth Management LLC bought a new stake in shares of MercadoLibre in the second quarter valued at about $29,000. Holos Integrated Wealth LLC bought a new stake in shares of MercadoLibre in the fourth quarter valued at about $32,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of MercadoLibre in the third quarter valued at about $35,000. Finally, Cullen Frost Bankers Inc. lifted its holdings in shares of MercadoLibre by 100.0% in the third quarter. Cullen Frost Bankers Inc. now owns 16 shares of the company’s stock valued at $37,000 after purchasing an additional 8 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MELI. The Goldman Sachs Group set a $2,100.00 price target on MercadoLibre in a report on Wednesday, May 13th. Itau BBA Securities reaffirmed an “outperform” rating on shares of MercadoLibre in a research report on Wednesday, February 25th. Morgan Stanley lowered their target price on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. Wedbush lowered their target price on MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. Finally, Raymond James Financial set a $2,000.00 target price on MercadoLibre in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $2,255.33.

MercadoLibre Price Performance

NASDAQ:MELI opened at $1,664.42 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. The stock’s 50-day simple moving average is $1,721.55 and its 200 day simple moving average is $1,921.77. The company has a market cap of $84.39 billion, a P/E ratio of 43.93, a P/E/G ratio of 1.03 and a beta of 1.41. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). The company had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.29 billion. MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. MercadoLibre’s revenue was up 49.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $9.74 EPS. As a group, sell-side analysts forecast that MercadoLibre, Inc. will post 40.97 EPS for the current fiscal year.

About MercadoLibre

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.