Mount Yale Investment Advisors LLC Lowers Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Mount Yale Investment Advisors LLC cut its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 35.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,080 shares of the company’s stock after selling 592 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in MercadoLibre were worth $2,216,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. GQG Partners LLC boosted its position in shares of MercadoLibre by 442.2% in the first quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock worth $1,201,679,000 after acquiring an additional 648,198 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of MercadoLibre by 205,108.3% during the 3rd quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock valued at $509,506,000 after buying an additional 248,181 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of MercadoLibre by 43.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock worth $1,167,073,000 after buying an additional 232,787 shares during the last quarter. Strategic Financial Concepts LLC purchased a new position in shares of MercadoLibre in the 2nd quarter worth $2,913,000. Finally, Janus Henderson Group PLC boosted its holdings in MercadoLibre by 55.8% in the first quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock valued at $557,225,000 after acquiring an additional 132,028 shares during the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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 report on Thursday, July 11th. 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 research report on Wednesday, October 2nd. Susquehanna raised their target price on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research note on Wednesday, August 28th. Citigroup upped their price target on shares of MercadoLibre from $2,200.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, BTIG Research upped their target price on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Three 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 MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $2,301.67.

MercadoLibre Price Performance

NASDAQ MELI opened at $2,055.93 on Friday. The company has a 50-day moving average price of $2,044.50 and a two-hundred day moving average price of $1,775.88. The stock has a market cap of $104.23 billion, a price-to-earnings ratio of 91.99, a price-to-earnings-growth ratio of 1.25 and a beta of 1.61. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. MercadoLibre, Inc. has a 52 week low of $1,162.73 and a 52 week high of $2,161.73.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data 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. The business had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.64 billion. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The business’s revenue for the quarter was up 41.5% compared to the same quarter last year. During the same period in the prior year, the company posted $5.16 EPS. Analysts forecast that MercadoLibre, Inc. will post 37.55 EPS 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.