Krane Funds Advisors LLC Lowers Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Krane Funds Advisors LLC lowered its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 17.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 252 shares of the company’s stock after selling 54 shares during the quarter. Krane Funds Advisors LLC’s holdings in MercadoLibre were worth $414,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. O Dell Group LLC lifted its holdings in shares of MercadoLibre by 2.1% in the first quarter. O Dell Group LLC now owns 294 shares of the company’s stock worth $445,000 after buying an additional 6 shares in the last quarter. Belpointe Asset Management LLC lifted its stake in MercadoLibre by 1.0% in the 2nd quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock worth $1,016,000 after purchasing an additional 6 shares in the last quarter. Independent Advisor Alliance lifted its stake in MercadoLibre by 1.2% in the 4th quarter. Independent Advisor Alliance now owns 586 shares of the company’s stock worth $921,000 after purchasing an additional 7 shares in the last quarter. Hilltop National Bank boosted its holdings in shares of MercadoLibre by 14.3% during the 2nd quarter. Hilltop National Bank now owns 56 shares of the company’s stock valued at $92,000 after purchasing an additional 7 shares during the last quarter. Finally, Contravisory Investment Management Inc. grew its position in shares of MercadoLibre by 5.1% during the second quarter. Contravisory Investment Management Inc. now owns 143 shares of the company’s stock valued at $235,000 after purchasing an additional 7 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Trading Down 0.8 %

MELI opened at $2,122.37 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. The stock’s 50 day moving average price is $1,860.84 and its 200-day moving average price is $1,672.76. MercadoLibre, Inc. has a one year low of $1,141.04 and a one year high of $2,143.96. The stock has a market cap of $107.60 billion, a price-to-earnings ratio of 94.96, a P/E/G ratio of 1.33 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The company had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter in the previous year, the business earned $5.16 EPS. MercadoLibre’s revenue was up 41.5% compared to the same quarter last year. On average, equities analysts forecast that MercadoLibre, Inc. will post 35.22 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on MELI shares. Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and increased their price target for the company from $1,400.00 to $2,100.00 in a research note on Monday, May 20th. Barclays raised their target price on shares of MercadoLibre from $2,000.00 to $2,100.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. New Street Research cut shares of MercadoLibre from a “buy” rating to a “neutral” rating in a research note on Friday, May 24th. The Goldman Sachs Group lifted their price objective on shares of 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, Citigroup increased their price target on shares of MercadoLibre from $2,000.00 to $2,200.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $2,182.92.

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.