MercadoLibre, Inc. (NASDAQ:MELI) Stock Holdings Trimmed by Genesis Investment Management LLP

Genesis Investment Management LLP decreased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 62.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,463 shares of the company’s stock after selling 46,501 shares during the period. MercadoLibre makes up approximately 8.4% of Genesis Investment Management LLP’s holdings, making the stock its 5th largest holding. Genesis Investment Management LLP owned approximately 0.05% of MercadoLibre worth $43,159,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MELI. Turtle Creek Wealth Advisors LLC purchased a new position in shares of MercadoLibre in the fourth quarter worth about $28,000. Proffitt & Goodson Inc. purchased a new position in shares of MercadoLibre in the third quarter worth about $32,000. Blue Trust Inc. increased its holdings in shares of MercadoLibre by 56.3% in the fourth quarter. Blue Trust Inc. now owns 25 shares of the company’s stock worth $39,000 after buying an additional 9 shares during the period. Castleview Partners LLC increased its holdings in shares of MercadoLibre by 58.8% in the second quarter. Castleview Partners LLC now owns 27 shares of the company’s stock worth $32,000 after buying an additional 10 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of MercadoLibre in the third quarter worth about $36,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on MELI. Wedbush reiterated an “outperform” rating and issued a $2,000.00 price objective on shares of MercadoLibre in a report on Tuesday, March 5th. Barclays cut their target price on MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 3rd. StockNews.com cut MercadoLibre from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. Susquehanna raised their target price on MercadoLibre from $1,850.00 to $2,000.00 and gave the stock a “positive” rating in a research note on Friday, February 23rd. Finally, Citigroup cut their target price on MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating on the stock in a research note on Wednesday, March 27th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,806.15.

MercadoLibre Stock Performance

MELI traded up $7.77 during mid-day trading on Wednesday, reaching $1,405.65. 125,790 shares of the company traded hands, compared to its average volume of 382,971. The stock has a market capitalization of $71.27 billion, a P/E ratio of 71.54, a P/E/G ratio of 0.91 and a beta of 1.44. The company has a quick ratio of 1.24, a current ratio of 1.27 and a debt-to-equity ratio of 0.72. The company’s fifty day moving average price is $1,581.12 and its 200-day moving average price is $1,524.73. MercadoLibre, Inc. has a 52-week low of $1,063.02 and a 52-week high of $1,825.00.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, February 22nd. The company reported $3.25 earnings per share for the quarter, missing analysts’ consensus estimates of $6.66 by ($3.41). The company had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $4.14 billion. MercadoLibre had a net margin of 6.82% and a return on equity of 39.07%. MercadoLibre’s quarterly revenue was up 42.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.25 earnings per share. On average, sell-side analysts expect that MercadoLibre, Inc. will post 35.89 EPS for the current year.

MercadoLibre Company 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.