Eqis Capital Management Inc. Trims Stake in Mercadolibre Inc (NASDAQ:MELI)

Eqis Capital Management Inc. lowered its holdings in Mercadolibre Inc (NASDAQ:MELI) by 0.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,476 shares of the company’s stock after selling 34 shares during the quarter. Eqis Capital Management Inc.’s holdings in Mercadolibre were worth $4,121,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. BlackRock Inc. grew its stake in shares of Mercadolibre by 1.0% in the second quarter. BlackRock Inc. now owns 1,491,572 shares of the company’s stock valued at $912,500,000 after buying an additional 14,951 shares in the last quarter. Invesco Ltd. grew its stake in shares of Mercadolibre by 112.9% in the second quarter. Invesco Ltd. now owns 1,020,646 shares of the company’s stock valued at $624,402,000 after buying an additional 541,277 shares in the last quarter. Viking Global Investors LP grew its stake in shares of Mercadolibre by 39.7% in the second quarter. Viking Global Investors LP now owns 854,831 shares of the company’s stock valued at $522,960,000 after buying an additional 242,962 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Mercadolibre by 1.4% in the second quarter. Jennison Associates LLC now owns 435,230 shares of the company’s stock valued at $266,261,000 after buying an additional 6,138 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Mercadolibre by 30.8% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 338,616 shares of the company’s stock valued at $186,655,000 after buying an additional 79,753 shares in the last quarter. Institutional investors own 82.21% of the company’s stock.

Shares of NASDAQ:MELI traded up $7.19 on Tuesday, hitting $504.81. 5,511 shares of the company’s stock were exchanged, compared to its average volume of 532,455. The firm’s 50-day moving average is $535.45 and its 200 day moving average is $581.48. The company has a market capitalization of $24.58 billion, a PE ratio of -607.48 and a beta of 1.61. Mercadolibre Inc has a 1-year low of $257.52 and a 1-year high of $698.98. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.72 and a current ratio of 2.73.

Mercadolibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, October 31st. The company reported ($2.96) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($2.97). The business had revenue of $603.03 million for the quarter, compared to analyst estimates of $588.23 million. Mercadolibre had a negative return on equity of 1.29% and a negative net margin of 5.87%. The company’s revenue was up 69.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.23) earnings per share. On average, analysts anticipate that Mercadolibre Inc will post -1.15 EPS for the current fiscal year.

MELI has been the subject of a number of research reports. Citigroup raised Mercadolibre from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $609.00 to $729.00 in a research note on Thursday, August 8th. JPMorgan Chase & Co. raised Mercadolibre from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $563.00 to $750.00 in a research note on Tuesday, August 13th. Stifel Nicolaus boosted their target price on Mercadolibre from $560.00 to $650.00 and gave the stock a “hold” rating in a research note on Thursday, August 8th. Goldman Sachs Group set a $713.00 target price on Mercadolibre and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Finally, UBS Group lowered their target price on Mercadolibre from $730.00 to $670.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Mercadolibre has a consensus rating of “Buy” and an average target price of $657.56.

Mercadolibre Profile

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, 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, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.

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Institutional Ownership by Quarter for Mercadolibre (NASDAQ:MELI)

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