Forum Financial Management LP Decreases Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Forum Financial Management LP reduced its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 8.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 294 shares of the company’s stock after selling 28 shares during the quarter. Forum Financial Management LP’s holdings in MercadoLibre were worth $483,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Capital International Investors lifted its position in shares of MercadoLibre by 0.4% during the fourth quarter. Capital International Investors now owns 1,037,070 shares of the company’s stock worth $1,630,740,000 after purchasing an additional 4,317 shares in the last quarter. Capital World Investors lifted its position in shares of MercadoLibre by 12.7% during the first quarter. Capital World Investors now owns 845,749 shares of the company’s stock worth $1,278,738,000 after purchasing an additional 95,029 shares in the last quarter. GQG Partners LLC lifted its position in shares of MercadoLibre by 442.2% during the first quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock worth $1,201,679,000 after purchasing an additional 648,198 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of MercadoLibre by 43.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock worth $1,167,073,000 after purchasing an additional 232,787 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in shares of MercadoLibre by 55.8% during the first quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock worth $557,225,000 after purchasing an additional 132,028 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. JPMorgan Chase & Co. upped their price target on shares of MercadoLibre from $2,150.00 to $2,400.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. Susquehanna upped their price target on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a report on Wednesday. Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and upped their price target for the company from $1,400.00 to $2,100.00 in a report on Monday, May 20th. Finally, New Street Research cut shares of MercadoLibre from a “buy” rating to a “neutral” rating in a report on Friday, May 24th. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $2,067.92.

MercadoLibre Stock Up 2.3 %

MELI stock opened at $2,061.66 on Friday. 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 1-year low of $1,141.04 and a 1-year high of $2,064.76. The firm has a fifty day moving average price of $1,768.02 and a two-hundred day moving average price of $1,648.77. The firm has a market cap of $104.52 billion, a price-to-earnings ratio of 92.24, a PEG ratio of 1.13 and a beta of 1.60.

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

MercadoLibre Company 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.