Sycale Advisors NY LLC Trims Stake in MercadoLibre, Inc. $MELI

Sycale Advisors NY LLC reduced its position in MercadoLibre, Inc. (NASDAQ:MELI) by 15.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 6,809 shares of the company’s stock after selling 1,250 shares during the period. MercadoLibre makes up 4.3% of Sycale Advisors NY LLC’s portfolio, making the stock its 11th biggest position. Sycale Advisors NY LLC’s holdings in MercadoLibre were worth $13,715,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Thompson Siegel & Walmsley LLC increased its position in shares of MercadoLibre by 238.3% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,030 shares of the company’s stock worth $4,089,000 after acquiring an additional 1,430 shares during the period. Weitz Investment Management Inc. bought a new position in shares of MercadoLibre during the third quarter valued at approximately $8,647,000. TIAA Trust National Association boosted its stake in shares of MercadoLibre by 10.9% during the fourth quarter. TIAA Trust National Association now owns 11,011 shares of the company’s stock valued at $22,179,000 after purchasing an additional 1,083 shares in the last quarter. Deepwater Asset Management LLC boosted its stake in shares of MercadoLibre by 38.6% during the fourth quarter. Deepwater Asset Management LLC now owns 7,765 shares of the company’s stock valued at $15,641,000 after purchasing an additional 2,164 shares in the last quarter. Finally, Integrated Financial Solutions Inc. boosted its stake in shares of MercadoLibre by 129.7% during the fourth quarter. Integrated Financial Solutions Inc. now owns 2,109 shares of the company’s stock valued at $4,248,000 after purchasing an additional 1,191 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on MELI shares. Cantor Fitzgerald dropped their price objective on shares of MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 21st. Benchmark dropped their price objective on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Daiwa Securities Group downgraded MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price objective on the stock. in a research report on Friday, May 8th. Citigroup lowered MercadoLibre from a “buy” rating to a “neutral” rating and cut their target price for the company from $2,200.00 to $1,950.00 in a research note on Wednesday, May 13th. Finally, Jefferies Financial Group upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and reduced their target price for the stock from $2,800.00 to $2,600.00 in a report on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $2,255.33.

Insiders Place Their Bets

In other news, Director Alejandro Nicolas Aguzin bought 600 shares of the stock in a transaction on Friday, May 22nd. The stock was bought at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the purchase, the director directly owned 5,355 shares in the company, valued at approximately $8,867,505.15. The trade was a 12.62% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is currently owned by company insiders.

MercadoLibre Price Performance

Shares of MELI opened at $1,589.60 on Monday. The company has a market cap of $80.59 billion, a price-to-earnings ratio of 41.95, a price-to-earnings-growth ratio of 0.98 and a beta of 1.36. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,645.22. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63. The company has a 50 day moving average of $1,715.68 and a two-hundred day moving average of $1,872.88.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, May 7th. The company reported $8.23 earnings per share for the quarter, missing the consensus estimate of $8.75 by ($0.52). The firm 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% on a year-over-year basis. During the same quarter last year, the business earned $9.74 earnings per share. As a group, analysts predict that MercadoLibre, Inc. will post 40.97 earnings per share for the current fiscal year.

MercadoLibre Company Profile

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.