Wellington Management Group LLP Sells 76,485 Shares of MercadoLibre, Inc. $MELI

Wellington Management Group LLP decreased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 20.1% in the 1st quarter, Holdings Channel reports. The firm owned 304,471 shares of the company’s stock after selling 76,485 shares during the quarter. Wellington Management Group LLP’s holdings in MercadoLibre were worth $593,983,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Key Financial Inc bought a new position in MercadoLibre during the 1st quarter worth approximately $25,000. GW&K Investment Management LLC bought a new position in MercadoLibre during the 1st quarter worth approximately $25,000. Close Asset Management Ltd raised its holdings in 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 purchasing an additional 11 shares during the last quarter. Park Square Financial Group LLC bought a new stake in shares of MercadoLibre in the 4th quarter valued at $26,000. Finally, Brooklyn Investment Group increased its stake in shares of MercadoLibre by 650.0% in the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock valued at $29,000 after acquiring an additional 13 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

NASDAQ MELI opened at $2,364.01 on Tuesday. The company has a fifty day simple moving average of $2,412.88 and a 200 day simple moving average of $2,266.66. MercadoLibre, Inc. has a 12-month low of $1,646.00 and a 12-month high of $2,645.22. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. The company has a market cap of $119.86 billion, a P/E ratio of 58.39, a PEG ratio of 1.52 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $12.01 by ($1.70). The firm had revenue of $6.79 billion for 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 prior year, the firm earned $10.48 earnings per share. Sell-side analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

MELI has been the subject of several research analyst reports. Benchmark reiterated a “buy” rating and issued a $2,875.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. The Goldman Sachs Group lifted their price objective on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the company a “buy” rating in a research note on Wednesday, May 14th. Barclays lowered their price objective on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an “overweight” rating for the company in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. lifted their price objective on shares of MercadoLibre from $2,600.00 to $2,700.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of MercadoLibre in a research note on Thursday, May 1st. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $2,817.22.

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.