AustralianSuper Pty Ltd Decreases Stake in MercadoLibre, Inc. (NASDAQ:MELI)

AustralianSuper Pty Ltd trimmed its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 43.2% during the third quarter, Holdings Channel reports. The fund owned 1,571 shares of the company’s stock after selling 1,197 shares during the quarter. AustralianSuper Pty Ltd’s holdings in MercadoLibre were worth $3,224,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of MELI. Migdal Insurance & Financial Holdings Ltd. increased its holdings in MercadoLibre by 1,600.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after purchasing an additional 16 shares during the last quarter. Optimum Investment Advisors grew its position in shares of MercadoLibre by 750.0% during the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after buying an additional 15 shares in the last quarter. Financial Connections Group Inc. bought a new stake in shares of MercadoLibre in the second quarter worth $36,000. Quarry LP acquired a new stake in MercadoLibre in the second quarter valued at $43,000. Finally, NBC Securities Inc. boosted its stake in MercadoLibre by 35.0% during the 3rd quarter. NBC Securities Inc. now owns 27 shares of the company’s stock valued at $55,000 after acquiring an additional 7 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MELI. Redburn Atlantic started coverage on shares of MercadoLibre in a research report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 target price for the company. JPMorgan Chase & Co. lowered MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 price objective for the company. in a report on Wednesday, October 2nd. StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Citigroup lifted their target price on MercadoLibre from $2,200.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Morgan Stanley upped their price target on MercadoLibre from $2,175.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and a consensus price target of $2,301.67.

MercadoLibre Stock Up 0.8 %

MELI stock opened at $2,037.18 on Friday. The stock has a market cap of $103.29 billion, a PE ratio of 73.62, a price-to-earnings-growth ratio of 1.23 and a beta of 1.61. The firm’s 50-day simple moving average is $2,049.29 and its 200 day simple moving average is $1,797.09. MercadoLibre, Inc. has a fifty-two week low of $1,205.80 and a fifty-two week high of $2,161.73. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, topping the consensus estimate of $8.53 by $1.95. The firm had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. MercadoLibre’s quarterly revenue was up 41.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.16 EPS. As a group, sell-side analysts predict that MercadoLibre, Inc. will post 37.7 EPS for the current year.

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.