Magnetar Financial LLC Sells 486 Shares of MercadoLibre, Inc. $MELI

Magnetar Financial LLC reduced its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 12.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 3,368 shares of the company’s stock after selling 486 shares during the quarter. Magnetar Financial LLC’s holdings in MercadoLibre were worth $8,803,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Optimize Financial Inc raised its stake in MercadoLibre by 1.7% during the first quarter. Optimize Financial Inc now owns 238 shares of the company’s stock valued at $464,000 after purchasing an additional 4 shares in the last quarter. Range Financial Group LLC grew its stake in shares of MercadoLibre by 2.7% in the 2nd quarter. Range Financial Group LLC now owns 188 shares of the company’s stock worth $491,000 after buying an additional 5 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of MercadoLibre by 26.3% in the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 24 shares of the company’s stock worth $63,000 after buying an additional 5 shares during the last quarter. Cary Street Partners Investment Advisory LLC raised its position in shares of MercadoLibre by 37.5% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 22 shares of the company’s stock valued at $43,000 after buying an additional 6 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its position in shares of MercadoLibre by 14.6% during the 1st quarter. Smartleaf Asset Management LLC now owns 47 shares of the company’s stock valued at $96,000 after buying an additional 6 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on MELI. Raymond James Financial reiterated a “strong-buy” rating and issued a $2,750.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. Benchmark lowered their price objective on MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. BTIG Research reiterated a “buy” rating and issued a $2,750.00 target price on shares of MercadoLibre in a report on Friday, November 14th. Wedbush boosted their target price on MercadoLibre from $2,700.00 to $2,800.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of MercadoLibre in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and an average target price of $2,854.71.

MercadoLibre Stock Performance

MELI stock opened at $1,899.75 on Friday. MercadoLibre, Inc. has a twelve month low of $1,646.00 and a twelve month high of $2,645.22. The firm has a market cap of $96.31 billion, a price-to-earnings ratio of 46.36, a PEG ratio of 1.56 and a beta of 1.51. The business’s fifty day simple moving average is $2,230.37 and its two-hundred day simple moving average is $2,364.48. 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 (NASDAQ:MELI) last issued its 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 analysts’ expectations of $7.19 billion. MercadoLibre had a net margin of 7.93% and a return on equity of 41.35%. The firm’s revenue for the quarter was up 39.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $7.83 earnings per share. Analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current 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.