Beck Bode LLC Reduces Position in MercadoLibre, Inc. (NASDAQ:MELI)

Beck Bode LLC lessened its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 75.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 555 shares of the company’s stock after selling 1,670 shares during the period. Beck Bode LLC’s holdings in MercadoLibre were worth $911,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of MELI. Amalgamated Bank increased its position in MercadoLibre by 22.2% during the 4th quarter. Amalgamated Bank now owns 55 shares of the company’s stock valued at $86,000 after purchasing an additional 10 shares during the period. Gryphon Financial Partners LLC boosted its holdings in shares of MercadoLibre by 40.9% in the 4th quarter. Gryphon Financial Partners LLC now owns 513 shares of the company’s stock valued at $861,000 after buying an additional 149 shares in the last quarter. QRG Capital Management Inc. bought a new position in shares of MercadoLibre during the 4th quarter worth approximately $223,000. Quadrant Capital Group LLC lifted its position in MercadoLibre by 13.0% during the fourth quarter. Quadrant Capital Group LLC now owns 78 shares of the company’s stock valued at $123,000 after acquiring an additional 9 shares during the last quarter. Finally, Brown Advisory Inc. boosted its stake in MercadoLibre by 2.3% in the fourth quarter. Brown Advisory Inc. now owns 545 shares of the company’s stock valued at $856,000 after acquiring an additional 12 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. New Street Research cut MercadoLibre from a “buy” rating to a “neutral” rating in a research report on Friday, May 24th. Susquehanna lifted their price objective on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research note on Wednesday, August 28th. StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. The Goldman Sachs Group raised their price objective on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Finally, Cantor Fitzgerald began coverage on shares of MercadoLibre in a report on Thursday, September 5th. They issued an “overweight” rating and a $2,530.00 price target on the stock. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, MercadoLibre presently has an average rating of “Moderate Buy” and an average price target of $2,182.92.

MercadoLibre Stock Down 1.5 %

MELI opened at $2,074.26 on Wednesday. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. MercadoLibre, Inc. has a twelve month low of $1,141.04 and a twelve month high of $2,143.96. The company has a market cap of $105.16 billion, a PE ratio of 92.81, a price-to-earnings-growth ratio of 1.33 and a beta of 1.61. The company has a 50-day moving average price of $1,876.32 and a 200 day moving average price of $1,680.72.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, beating analysts’ consensus estimates of $8.53 by $1.95. The company had revenue of $5.07 billion for 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 firm’s revenue for the quarter was up 41.5% on a year-over-year basis. During the same quarter last year, the firm posted $5.16 EPS. Sell-side analysts expect that MercadoLibre, Inc. will post 35.22 earnings per share for the current fiscal 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.