AdvisorNet Financial Inc Sells 26 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

AdvisorNet Financial Inc trimmed its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 2.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,014 shares of the company’s stock after selling 26 shares during the period. AdvisorNet Financial Inc’s holdings in MercadoLibre were worth $1,666,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of MELI. International Assets Investment Management LLC raised its position in shares of MercadoLibre by 112,333.8% during the fourth quarter. International Assets Investment Management LLC now owns 146,164 shares of the company’s stock valued at $229,703,000 after buying an additional 146,034 shares during the last quarter. Cerity Partners LLC lifted its holdings in shares of MercadoLibre by 21.9% in the 4th quarter. Cerity Partners LLC now owns 2,274 shares of the company’s stock worth $3,574,000 after buying an additional 409 shares during the period. Tennessee Valley Asset Management Partners bought a new stake in shares of MercadoLibre in the 4th quarter valued at about $57,000. Simplicity Solutions LLC lifted its holdings in MercadoLibre by 5.8% during the fourth quarter. Simplicity Solutions LLC now owns 1,032 shares of the company’s stock worth $1,622,000 after buying an additional 57 shares during the period. Finally, Beverly Hills Private Wealth LLC grew its position in shares of MercadoLibre by 60.5% in the 4th quarter. Beverly Hills Private Wealth LLC now owns 276 shares of the company’s stock worth $434,000 after buying an additional 104 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of MELI traded up $93.43 during trading hours on Thursday, reaching $1,992.00. 379,460 shares of the company’s stock traded hands, compared to its average volume of 369,915. The firm has a market capitalization of $100.99 billion, a price-to-earnings ratio of 86.94, a P/E/G ratio of 1.13 and a beta of 1.60. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.27 and a quick ratio of 1.25. MercadoLibre, Inc. has a twelve month low of $1,141.04 and a twelve month high of $1,995.26. The business’s fifty day simple moving average is $1,676.02 and its two-hundred day simple moving average is $1,627.87.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, beating the consensus estimate of $8.53 by $1.95. MercadoLibre had a net margin of 8.03% and a return on equity of 45.61%. The business had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $4.64 billion. During the same period in the previous year, the company posted $5.16 EPS. MercadoLibre’s revenue was up 41.5% on a year-over-year basis. Analysts predict that MercadoLibre, Inc. will post 33.4 earnings per share for the current year.

Analysts Set New Price Targets

MELI has been the topic of a number of analyst reports. New Street Research cut shares of MercadoLibre from a “buy” rating to a “neutral” rating in a research note on Friday, May 24th. UBS Group decreased their target price on shares of MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. BTIG Research upped their price target on MercadoLibre from $1,885.00 to $2,025.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Barclays lifted their price target on shares of MercadoLibre from $2,000.00 to $2,100.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Finally, StockNews.com cut MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $2,020.00.

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.