Dupree Financial Group LLC Sells 838 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Dupree Financial Group LLC decreased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 22.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,920 shares of the company’s stock after selling 838 shares during the period. MercadoLibre makes up about 2.4% of Dupree Financial Group LLC’s holdings, making the stock its 13th largest holding. Dupree Financial Group LLC’s holdings in MercadoLibre were worth $5,992,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of MercadoLibre by 1,600.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after purchasing an additional 16 shares in the last quarter. Optimum Investment Advisors grew its stake in MercadoLibre by 750.0% in the 3rd 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 position in shares of MercadoLibre in the 2nd quarter worth $36,000. Quarry LP purchased a new stake in shares of MercadoLibre during the 2nd quarter valued at $43,000. Finally, NBC Securities Inc. lifted its holdings in shares of MercadoLibre by 35.0% during the 3rd quarter. NBC Securities Inc. now owns 27 shares of the company’s stock worth $55,000 after acquiring an additional 7 shares during the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MELI has been the topic of a number of research reports. Dbs Bank upgraded MercadoLibre from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 11th. Redburn Atlantic began coverage on MercadoLibre in a research report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 target price for the company. StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. JPMorgan Chase & Co. lowered shares of 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. Finally, Susquehanna increased their target price on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a report on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $2,301.67.

MercadoLibre Price Performance

Shares of MELI stock opened at $2,067.82 on Wednesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. MercadoLibre, Inc. has a fifty-two week low of $1,141.04 and a fifty-two week high of $2,161.73. The firm has a market cap of $104.83 billion, a P/E ratio of 92.52, a P/E/G ratio of 1.25 and a beta of 1.61. The business’s 50 day moving average price is $2,041.70 and its 200-day moving average price is $1,774.03.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, August 1st. The company reported $10.48 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 company had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same quarter last year, the firm posted $5.16 earnings per share. The firm’s revenue was up 41.5% on a year-over-year basis. On average, equities research analysts anticipate that MercadoLibre, Inc. will post 37.55 earnings per share for the current 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.