Mercadolibre Inc (NASDAQ:MELI) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale trimmed its position in shares of Mercadolibre Inc (NASDAQ:MELI) by 5.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 4,057 shares of the company’s stock after selling 255 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Mercadolibre were worth $1,453,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Baillie Gifford & Co. lifted its stake in Mercadolibre by 2.3% during the 4th quarter. Baillie Gifford & Co. now owns 5,208,620 shares of the company’s stock valued at $1,525,344,000 after acquiring an additional 117,948 shares during the period. FMR LLC lifted its stake in Mercadolibre by 11.3% during the 4th quarter. FMR LLC now owns 1,017,995 shares of the company’s stock valued at $298,119,000 after acquiring an additional 103,215 shares during the period. Norges Bank bought a new position in Mercadolibre during the 4th quarter valued at about $110,161,000. WCM Investment Management LLC lifted its stake in Mercadolibre by 8.2% during the 4th quarter. WCM Investment Management LLC now owns 347,514 shares of the company’s stock valued at $101,770,000 after acquiring an additional 26,481 shares during the period. Finally, Jennison Associates LLC lifted its stake in Mercadolibre by 15.5% during the 4th quarter. Jennison Associates LLC now owns 330,660 shares of the company’s stock valued at $96,834,000 after acquiring an additional 44,327 shares during the period. 84.67% of the stock is currently owned by institutional investors.

Mercadolibre stock traded up $7.54 during midday trading on Monday, hitting $619.31. The stock had a trading volume of 410,099 shares, compared to its average volume of 629,054. The stock has a fifty day moving average of $597.39. The stock has a market capitalization of $30.54 billion, a P/E ratio of -755.26 and a beta of 1.78. Mercadolibre Inc has a 52-week low of $257.52 and a 52-week high of $672.55. The company has a quick ratio of 2.82, a current ratio of 2.82 and a debt-to-equity ratio of 0.34.

Mercadolibre (NASDAQ:MELI) last released its earnings results on Thursday, May 2nd. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.14. Mercadolibre had a negative return on equity of 1.55% and a negative net margin of 0.74%. The business had revenue of $474.00 million during the quarter, compared to the consensus estimate of $423.19 million. During the same period last year, the company earned ($0.29) earnings per share. The business’s revenue for the quarter was up 47.7% compared to the same quarter last year. On average, equities research analysts anticipate that Mercadolibre Inc will post 1.16 EPS for the current year.

Several brokerages have recently weighed in on MELI. BidaskClub cut shares of Mercadolibre from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 19th. Zacks Investment Research upgraded shares of Mercadolibre from a “hold” rating to a “buy” rating and set a $608.00 price objective on the stock in a research note on Friday, May 10th. UBS Group set a $730.00 price objective on shares of Mercadolibre and gave the stock a “buy” rating in a research note on Wednesday, June 26th. BTIG Research cut shares of Mercadolibre from a “buy” rating to a “neutral” rating and set a $561.01 price objective on the stock. in a research note on Tuesday, June 4th. Finally, Bank of America reiterated a “buy” rating and issued a $600.00 price objective on shares of Mercadolibre in a research note on Wednesday, April 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $516.50.

Mercadolibre Company 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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