Greenland Capital Management LP Cuts Stake in MercadoLibre, Inc. $MELI

Greenland Capital Management LP cut its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 93.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 122 shares of the company’s stock after selling 1,811 shares during the quarter. Greenland Capital Management LP’s holdings in MercadoLibre were worth $319,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bison Wealth LLC bought a new position in shares of MercadoLibre during the fourth quarter valued at approximately $206,000. Private Advisor Group LLC raised its stake in MercadoLibre by 9.7% in the first quarter. Private Advisor Group LLC now owns 552 shares of the company’s stock worth $1,077,000 after buying an additional 49 shares in the last quarter. Kestra Private Wealth Services LLC purchased a new stake in MercadoLibre during the first quarter worth $412,000. GW&K Investment Management LLC bought a new stake in MercadoLibre during the 1st quarter valued at $25,000. Finally, Ignite Planners LLC boosted its position in MercadoLibre by 7.3% during the 1st quarter. Ignite Planners LLC now owns 147 shares of the company’s stock valued at $287,000 after acquiring an additional 10 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $2,077.18 on Thursday. The company has a 50 day moving average price of $2,239.14 and a 200 day moving average price of $2,367.73. 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. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). The company had revenue of $7.41 billion for the quarter, compared to analyst estimates of $7.19 billion. MercadoLibre had a net margin of 7.93% and a return on equity of 41.35%. The company’s revenue for the quarter was up 39.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $7.83 EPS. Sell-side analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Wall Street Analyst Weigh In

MELI has been the subject of several recent research reports. Benchmark reduced their price target on MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. Weiss Ratings reiterated a “buy (b-)” rating on shares of MercadoLibre in a report on Friday, October 31st. Citigroup decreased their price target on shares of MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating for the company in a research report on Thursday, October 9th. Cantor Fitzgerald lowered their price target on shares of MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. Finally, Susquehanna reduced their price objective on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating for the company in a research note on Monday, October 13th. One 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 company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $2,854.71.

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.