Equitable Trust Co. Has $3.29 Million Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Equitable Trust Co. lowered its position in MercadoLibre, Inc. (NASDAQ:MELI) by 17.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 1,999 shares of the company’s stock after selling 429 shares during the period. Equitable Trust Co.’s holdings in MercadoLibre were worth $3,285,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital International Investors increased its stake in shares of MercadoLibre by 0.4% in the 4th quarter. Capital International Investors now owns 1,037,070 shares of the company’s stock valued at $1,630,740,000 after acquiring an additional 4,317 shares in the last quarter. Capital World Investors increased its stake in shares of MercadoLibre by 12.7% in the 1st quarter. Capital World Investors now owns 845,749 shares of the company’s stock valued at $1,278,738,000 after acquiring an additional 95,029 shares in the last quarter. GQG Partners LLC increased its stake in shares of MercadoLibre by 442.2% in the 1st quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock valued at $1,201,679,000 after acquiring an additional 648,198 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of MercadoLibre by 43.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock valued at $1,167,073,000 after acquiring an additional 232,787 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of MercadoLibre by 55.8% in the 1st 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 in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Up 2.3 %

Shares of NASDAQ MELI traded up $45.87 during trading on Friday, hitting $2,061.66. The stock had a trading volume of 384,426 shares, compared to its average volume of 350,057. MercadoLibre, Inc. has a 12 month low of $1,141.04 and a 12 month high of $2,064.76. 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 company has a market capitalization of $104.53 billion, a PE ratio of 92.24, a PEG ratio of 1.36 and a beta of 1.60. The firm has a fifty day moving average of $1,777.26 and a two-hundred day moving average of $1,650.66.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.53 by $1.95. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The firm had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same quarter in the prior year, the business posted $5.16 EPS. The business’s revenue was up 41.5% compared to the same quarter last year. As a group, equities research analysts forecast that MercadoLibre, Inc. will post 35.22 EPS for the current fiscal year.

Analyst Ratings Changes

MELI has been the subject of several research analyst reports. BTIG Research lifted their price objective 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. StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. The Goldman Sachs Group lifted their price objective on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Susquehanna boosted their price target 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. Finally, New Street Research lowered shares of MercadoLibre from a “buy” rating to a “neutral” rating in a research note on Friday, May 24th. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, MercadoLibre presently has an average rating of “Moderate Buy” and an average target price of $2,067.92.

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.