MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by AIA Group Ltd

AIA Group Ltd lessened its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 7.3% in the 1st quarter, Holdings Channel.com reports. The fund owned 8,818 shares of the company’s stock after selling 695 shares during the period. AIA Group Ltd’s holdings in MercadoLibre were worth $17,203,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Key Financial Inc acquired a new stake in MercadoLibre in the 1st quarter worth approximately $25,000. GW&K Investment Management LLC purchased a new position in shares of MercadoLibre in the first quarter worth $25,000. Close Asset Management Ltd lifted its stake in shares of MercadoLibre by 366.7% during the first quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock worth $27,000 after buying an additional 11 shares during the period. Park Square Financial Group LLC acquired a new stake in MercadoLibre during the 4th quarter worth about $26,000. Finally, Covestor Ltd purchased a new stake in MercadoLibre during the 4th quarter valued at about $27,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Up 0.8%

MercadoLibre stock opened at $2,353.70 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. The stock has a market capitalization of $119.33 billion, a PE ratio of 58.13, a price-to-earnings-growth ratio of 1.47 and a beta of 1.46. The business has a 50 day simple moving average of $2,437.60 and a 200-day simple moving average of $2,247.76. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing the consensus estimate of $12.01 by ($1.70). The company had revenue of $6.79 billion during the quarter, compared to analysts’ expectations of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%. MercadoLibre’s 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, analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MELI. Daiwa Capital Markets started coverage on MercadoLibre in a research note on Friday, August 1st. They issued a “buy” rating and a $3,000.00 price objective for the company. Barclays reduced their price target on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an “overweight” rating for the company in a research report on Wednesday, July 23rd. Scotiabank started coverage on shares of MercadoLibre in a report on Monday, July 28th. They issued a “sector outperform” rating and a $3,500.00 price objective on the stock. UBS Group set a $3,000.00 target price on shares of MercadoLibre in a report on Monday, June 2nd. Finally, The Goldman Sachs Group boosted their target price on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the company a “buy” rating in a research report on Wednesday, May 14th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and a consensus target price of $2,795.00.

MercadoLibre 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.