Boston Common Asset Management LLC Lowers Position in MercadoLibre, Inc. (NASDAQ:MELI)

Boston Common Asset Management LLC decreased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 3.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 4,793 shares of the company’s stock after selling 187 shares during the period. Boston Common Asset Management LLC’s holdings in MercadoLibre were worth $9,835,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MELI. Cantor Fitzgerald L. P. bought a new stake in shares of MercadoLibre during the 4th quarter valued at about $275,000. Berkshire Capital Holdings Inc. raised its stake in MercadoLibre by 21.5% in the fourth quarter. Berkshire Capital Holdings Inc. now owns 5,700 shares of the company’s stock valued at $8,958,000 after purchasing an additional 1,010 shares in the last quarter. Foxhaven Asset Management LP raised its stake in MercadoLibre by 4.9% in the fourth quarter. Foxhaven Asset Management LP now owns 182,958 shares of the company’s stock valued at $287,526,000 after purchasing an additional 8,521 shares in the last quarter. Parkwood LLC lifted its position in MercadoLibre by 5.9% during the fourth quarter. Parkwood LLC now owns 2,752 shares of the company’s stock valued at $4,325,000 after purchasing an additional 153 shares during the last quarter. Finally, Profund Advisors LLC grew its stake in MercadoLibre by 23.5% in the 4th quarter. Profund Advisors LLC now owns 3,914 shares of the company’s stock worth $6,151,000 after buying an additional 745 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MELI. Bank of America raised their price objective on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Citigroup lifted their price target on MercadoLibre from $2,000.00 to $2,200.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. StockNews.com cut MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Cantor Fitzgerald reissued an “overweight” rating and set a $2,530.00 price objective on shares of MercadoLibre in a report on Monday. Finally, Susquehanna upped their target price on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research note on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $2,246.07.

MercadoLibre Stock Down 0.4 %

Shares of NASDAQ MELI opened at $2,040.50 on Friday. The firm’s fifty day moving average is $1,997.57 and its 200 day moving average is $1,737.60. MercadoLibre, Inc. has a 52 week low of $1,141.04 and a 52 week high of $2,161.73. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. The company has a market cap of $103.45 billion, a price-to-earnings ratio of 73.74, a PEG ratio of 1.25 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. The business had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The company’s revenue was up 41.5% on a year-over-year basis. During the same quarter last year, the firm earned $5.16 EPS. On average, equities research analysts expect that MercadoLibre, Inc. will post 37.55 earnings per share for the current 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.