Bessemer Group Inc. Sells 49,322 Shares of MercadoLibre, Inc. $MELI

Bessemer Group Inc. cut its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 25.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 142,668 shares of the company’s stock after selling 49,322 shares during the quarter. Bessemer Group Inc.’s holdings in MercadoLibre were worth $372,880,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Key Financial Inc bought a new position in shares of MercadoLibre during the first quarter worth approximately $25,000. GW&K Investment Management LLC acquired a new stake in shares of MercadoLibre during the 1st quarter worth approximately $25,000. Close Asset Management Ltd boosted its position in shares of MercadoLibre by 366.7% during the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock worth $27,000 after acquiring an additional 11 shares in the last quarter. Brooklyn Investment Group boosted its position in shares of MercadoLibre by 650.0% during the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock worth $29,000 after acquiring an additional 13 shares in the last quarter. Finally, Twin Tree Management LP acquired a new stake in shares of MercadoLibre during the 1st quarter worth approximately $29,000. 87.62% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Jefferies Financial Group reiterated a “hold” rating and set a $2,800.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of MercadoLibre in a research report on Wednesday, October 8th. Raymond James Financial reiterated a “strong-buy” rating and set a $2,750.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. Benchmark reiterated a “buy” rating and set a $2,875.00 price target on shares of MercadoLibre in a research report on Tuesday, October 21st. Finally, Daiwa Capital Markets began coverage on shares of MercadoLibre in a research report on Friday, August 1st. They set a “buy” rating and a $3,000.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, MercadoLibre presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,799.12.

MercadoLibre Stock Performance

NASDAQ MELI opened at $2,161.11 on Monday. The firm’s fifty day moving average price is $2,315.64 and its two-hundred day moving average price is $2,362.09. The stock has a market cap of $109.56 billion, a PE ratio of 53.37, a PEG ratio of 1.47 and a beta of 1.46. MercadoLibre, Inc. has a fifty-two week low of $1,646.00 and a fifty-two week high of $2,645.22. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Monday, August 4th. The company reported $10.31 earnings per share for the quarter, missing analysts’ consensus estimates of $12.01 by ($1.70). The company had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The business’s quarterly revenue was up 33.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $10.48 EPS. On average, equities analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

About MercadoLibre

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.