Oxbow Advisors LLC Cuts Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Oxbow Advisors LLC trimmed its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 76.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 107 shares of the company’s stock after selling 345 shares during the quarter. Oxbow Advisors LLC’s holdings in MercadoLibre were worth $220,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Resolute Advisors LLC purchased a new position in shares of MercadoLibre in the third quarter valued at $337,000. Assetmark Inc. lifted its position in shares of MercadoLibre by 11.1% during the third quarter. Assetmark Inc. now owns 4,042 shares of the company’s stock worth $8,294,000 after purchasing an additional 404 shares during the last quarter. Verdence Capital Advisors LLC lifted its position in shares of MercadoLibre by 62.0% during the third quarter. Verdence Capital Advisors LLC now owns 575 shares of the company’s stock worth $1,180,000 after purchasing an additional 220 shares during the last quarter. Washington Trust Advisors Inc. lifted its position in shares of MercadoLibre by 1,100.0% during the third quarter. Washington Trust Advisors Inc. now owns 36 shares of the company’s stock worth $73,000 after purchasing an additional 33 shares during the last quarter. Finally, AIA Group Ltd lifted its position in shares of MercadoLibre by 17.7% during the third quarter. AIA Group Ltd now owns 9,412 shares of the company’s stock worth $19,313,000 after purchasing an additional 1,412 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $1,872.01 on Friday. The business has a 50-day moving average of $2,046.45 and a 200 day moving average of $1,822.55. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,161.73. The stock has a market capitalization of $94.91 billion, a price-to-earnings ratio of 66.06, a price-to-earnings-growth ratio of 1.30 and a beta of 1.61. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Wednesday, November 6th. The company reported $7.83 earnings per share for the quarter, missing the consensus estimate of $11.27 by ($3.44). MercadoLibre had a return on equity of 42.61% and a net margin of 7.57%. The business had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.25 billion. As a group, sell-side analysts forecast that MercadoLibre, Inc. will post 37.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MELI has been the subject of several recent research reports. Susquehanna lifted their price objective on MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a report on Wednesday, August 28th. Barclays boosted their target price on shares of MercadoLibre from $2,100.00 to $2,500.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. The Goldman Sachs Group boosted their target price on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Redburn Atlantic assumed coverage on shares of MercadoLibre in a report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 target price for the company. Finally, Raymond James assumed coverage on shares of MercadoLibre in a report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 target price for the company. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $2,309.67.

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.