WP Advisors LLC Has $705,000 Position in MercadoLibre, Inc. (NASDAQ:MELI)

WP Advisors LLC reduced its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 6.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 429 shares of the company’s stock after selling 30 shares during the quarter. WP Advisors LLC’s holdings in MercadoLibre were worth $705,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital International Investors grew its position in 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 buying an additional 4,317 shares in the last quarter. Capital World Investors grew its position in 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 buying an additional 95,029 shares in the last quarter. GQG Partners LLC grew its position in 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 buying an additional 648,198 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in 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 buying an additional 232,787 shares in the last quarter. Finally, Janus Henderson Group PLC grew its position in 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 buying an additional 132,028 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Trading Up 2.3 %

MercadoLibre stock traded up $45.87 during mid-day trading on Friday, hitting $2,061.66. The stock had a trading volume of 384,426 shares, compared to its average volume of 362,923. The stock has a 50-day simple moving average of $1,777.26 and a two-hundred day simple moving average of $1,651.05. The stock has a market capitalization of $104.52 billion, a PE ratio of 92.24, a P/E/G ratio of 1.13 and a beta of 1.60. MercadoLibre, Inc. has a 12 month low of $1,141.04 and a 12 month high of $2,064.76. The company has a current ratio of 1.27, a quick ratio of 1.25 and a debt-to-equity ratio of 0.66.

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MELI. Dbs Bank raised MercadoLibre from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 11th. Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and lifted their price objective for the company from $1,400.00 to $2,100.00 in a report on Monday, May 20th. JPMorgan Chase & Co. lifted their price objective on MercadoLibre from $2,150.00 to $2,400.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. Wedbush reaffirmed an “outperform” rating and set a $1,800.00 price objective on shares of MercadoLibre in a report on Friday, May 3rd. Finally, Citigroup lifted their price objective on MercadoLibre from $2,000.00 to $2,200.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $2,067.92.

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.