Landsberg Bennett & Dubbaneh LLC decreased its stake in Mercadolibre Inc (NASDAQ:MELI) by 3.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 788 shares of the company’s stock after selling 28 shares during the period. Landsberg Bennett & Dubbaneh LLC’s holdings in Mercadolibre were worth $427,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. NEXT Financial Group Inc increased its holdings in shares of Mercadolibre by 104.3% in the 2nd quarter. NEXT Financial Group Inc now owns 47 shares of the company’s stock worth $29,000 after buying an additional 24 shares during the last quarter. CENTRAL TRUST Co increased its holdings in shares of Mercadolibre by 62.5% in the 2nd quarter. CENTRAL TRUST Co now owns 52 shares of the company’s stock worth $33,000 after buying an additional 20 shares during the last quarter. Advisory Alpha LLC bought a new position in shares of Mercadolibre during the 1st quarter valued at $37,000. Emerald Investment Partners LLC bought a new position in shares of Mercadolibre during the 2nd quarter valued at $37,000. Finally, Next Capital Management LLC bought a new position in shares of Mercadolibre during the 2nd quarter valued at $41,000. 81.50% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts recently commented on MELI shares. Citigroup raised shares of Mercadolibre from a “neutral” rating to a “buy” rating and increased their target price for the company from $609.00 to $729.00 in a report on Thursday, August 8th. UBS Group set a $730.00 target price on shares of Mercadolibre and gave the company a “buy” rating in a report on Wednesday, June 26th. Piper Jaffray Companies increased their target price on shares of Mercadolibre from $584.00 to $675.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Goldman Sachs Group set a $713.00 target price on shares of Mercadolibre and gave the company a “buy” rating in a report on Tuesday, September 10th. Finally, BTIG Research raised shares of Mercadolibre from a “neutral” rating to a “buy” rating and set a $720.00 target price on the stock in a report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company’s stock. Mercadolibre presently has an average rating of “Buy” and an average price target of $665.69.
Mercadolibre (NASDAQ:MELI) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.03. The business had revenue of $545.24 million during the quarter, compared to analysts’ expectations of $507.68 million. Mercadolibre had a net margin of 0.87% and a return on equity of 1.24%. The firm’s revenue for the quarter was up 62.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.25) EPS. Sell-side analysts expect that Mercadolibre Inc will post 0.58 EPS for the current fiscal year.
MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, 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, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.
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