Quintet Private Bank Europe S.A. Trims Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Quintet Private Bank Europe S.A. reduced its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 40.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 148 shares of the company’s stock after selling 101 shares during the quarter. Quintet Private Bank Europe S.A.’s holdings in MercadoLibre were worth $232,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. WCM Investment Management LLC boosted its position in MercadoLibre by 74.8% during the 4th quarter. WCM Investment Management LLC now owns 1,162,724 shares of the company’s stock valued at $1,838,964,000 after acquiring an additional 497,535 shares in the last quarter. Norges Bank bought a new stake in MercadoLibre during the 4th quarter valued at $554,386,000. Morgan Stanley boosted its position in MercadoLibre by 10.2% during the 3rd quarter. Morgan Stanley now owns 2,558,467 shares of the company’s stock valued at $3,243,832,000 after acquiring an additional 236,744 shares in the last quarter. International Assets Investment Management LLC boosted its position in MercadoLibre by 112,333.8% during the 4th quarter. International Assets Investment Management LLC now owns 146,164 shares of the company’s stock valued at $229,703,000 after acquiring an additional 146,034 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in MercadoLibre by 1,432.2% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 127,355 shares of the company’s stock valued at $200,140,000 after acquiring an additional 119,043 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MELI has been the topic of several recent research reports. StockNews.com cut MercadoLibre from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. New Street Research cut MercadoLibre from a “buy” rating to a “neutral” rating in a research report on Friday, May 24th. UBS Group lowered their price objective on MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. Wedbush reissued an “outperform” rating and issued a $1,800.00 price objective on shares of MercadoLibre in a research report on Friday, May 3rd. Finally, JPMorgan Chase & Co. raised their price objective on MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,881.92.

MercadoLibre Stock Performance

MELI traded up $1.61 on Friday, reaching $1,582.14. 223,146 shares of the stock were exchanged, compared to its average volume of 298,570. The company’s 50-day moving average price is $1,581.80 and its 200 day moving average price is $1,606.84. MercadoLibre, Inc. has a fifty-two week low of $1,063.02 and a fifty-two week high of $1,825.00. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.27 and a quick ratio of 1.25. The firm has a market capitalization of $80.21 billion, a PE ratio of 70.79, a PEG ratio of 1.16 and a beta of 1.60.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $6.78 EPS for the quarter, topping analysts’ consensus estimates of $6.64 by $0.14. MercadoLibre had a return on equity of 39.46% and a net margin of 7.17%. The company had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $3.84 billion. During the same quarter in the previous year, the firm posted $3.97 EPS. The firm’s revenue was up 36.0% compared to the same quarter last year. As a group, sell-side analysts forecast that MercadoLibre, Inc. will post 33.81 EPS for the current fiscal year.

About MercadoLibre

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.