LVW Advisors LLC Sells 23 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

LVW Advisors LLC cut its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 7.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 290 shares of the company’s stock after selling 23 shares during the period. LVW Advisors LLC’s holdings in MercadoLibre were worth $595,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raymond James & Associates lifted its stake in shares of MercadoLibre by 4.8% in the 2nd quarter. Raymond James & Associates now owns 34,840 shares of the company’s stock valued at $57,256,000 after purchasing an additional 1,604 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of MercadoLibre by 20.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,642 shares of the company’s stock worth $41,794,000 after buying an additional 4,658 shares during the period. Gulf International Bank UK Ltd raised its holdings in shares of MercadoLibre by 33.4% in the first quarter. Gulf International Bank UK Ltd now owns 4,960 shares of the company’s stock worth $7,499,000 after buying an additional 1,241 shares during the period. Caprock Group LLC raised its holdings in shares of MercadoLibre by 143.7% in the second quarter. Caprock Group LLC now owns 580 shares of the company’s stock worth $955,000 after buying an additional 342 shares during the period. Finally, Sarasin & Partners LLP raised its holdings in shares of MercadoLibre by 168.5% in the second quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock worth $74,622,000 after buying an additional 28,494 shares during the period. 87.62% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on MELI shares. Redburn Atlantic started coverage on MercadoLibre in a report on Friday. They issued a “buy” rating and a $2,800.00 price target on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $2,530.00 price target on shares of MercadoLibre in a report on Monday, October 7th. The Goldman Sachs Group lifted their price target on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Susquehanna lifted their price target on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research report on Wednesday, August 28th. Finally, Bank of America boosted their price objective on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a report on Thursday, September 12th. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $2,283.00.

MercadoLibre Price Performance

NASDAQ:MELI opened at $2,091.16 on Friday. MercadoLibre, Inc. has a one year low of $1,141.04 and a one year high of $2,161.73. 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 has a market cap of $106.02 billion, a PE ratio of 93.56, a P/E/G ratio of 1.25 and a beta of 1.61. The stock has a 50 day moving average price of $2,012.56 and a 200 day moving average price of $1,743.46.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, topping the consensus estimate of $8.53 by $1.95. The company had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.64 billion. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The firm’s revenue for the quarter was up 41.5% compared to the same quarter last year. During the same period in the prior year, the business posted $5.16 earnings per share. Equities research analysts expect that MercadoLibre, Inc. will post 37.55 EPS for the current fiscal 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.