MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Mount Yale Investment Advisors LLC

Mount Yale Investment Advisors LLC trimmed its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 35.4% in the third quarter, Holdings Channel.com reports. The fund owned 1,080 shares of the company’s stock after selling 592 shares during the period. Mount Yale Investment Advisors LLC’s holdings in MercadoLibre were worth $2,216,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in MELI. Vanguard Group Inc. boosted its stake in shares of MercadoLibre by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 182,392 shares of the company’s stock worth $286,636,000 after acquiring an additional 3,577 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new position in MercadoLibre in the 1st quarter worth about $73,000. Wealth Enhancement Advisory Services LLC lifted its stake in MercadoLibre by 19.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 2,482 shares of the company’s stock valued at $3,753,000 after buying an additional 396 shares in the last quarter. Dohj LLC lifted its stake in MercadoLibre by 4.0% during the first quarter. Dohj LLC now owns 338 shares of the company’s stock valued at $511,000 after buying an additional 13 shares in the last quarter. Finally, Register Financial Advisors LLC purchased a new position in shares of MercadoLibre in the first quarter worth approximately $68,000. Institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on MELI shares. The Goldman Sachs Group upped their price target on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Raymond James assumed coverage on MercadoLibre in a report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 price target on the stock. Redburn Atlantic initiated coverage on MercadoLibre in a research note on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price objective for the company. Susquehanna raised their price objective on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research report on Wednesday, August 28th. Finally, Bank of America upped their target price on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a report on Thursday, September 12th. Three equities research 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $2,301.67.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $2,055.93 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26. The stock has a market capitalization of $104.23 billion, a P/E ratio of 91.99, a P/E/G ratio of 1.25 and a beta of 1.61. The business has a 50-day moving average of $2,044.50 and a two-hundred day moving average of $1,775.88. MercadoLibre, Inc. has a fifty-two week low of $1,162.73 and a fifty-two week high of $2,161.73.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The firm had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter in the prior year, the business earned $5.16 earnings per share. The company’s revenue was up 41.5% on a year-over-year basis. On average, equities research analysts predict that MercadoLibre, Inc. will post 37.55 EPS for the current fiscal year.

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.