MercadoLibre, Inc. (NASDAQ:MELI) Holdings Lowered by APG Asset Management N.V.

APG Asset Management N.V. trimmed its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 15.0% during the second quarter, Holdings Channel reports. The institutional investor owned 60,808 shares of the company’s stock after selling 10,755 shares during the period. APG Asset Management N.V.’s holdings in MercadoLibre were worth $79,877,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. JCIC Asset Management Inc. raised its position in shares of MercadoLibre by 0.5% during the 2nd quarter. JCIC Asset Management Inc. now owns 1,378 shares of the company’s stock worth $2,661,000 after buying an additional 7 shares in the last quarter. Montag A & Associates Inc. raised its position in shares of MercadoLibre by 1.6% during the 2nd quarter. Montag A & Associates Inc. now owns 444 shares of the company’s stock worth $692,000 after buying an additional 7 shares in the last quarter. Integrated Advisors Network LLC raised its position in shares of MercadoLibre by 4.4% during the 2nd quarter. Integrated Advisors Network LLC now owns 191 shares of the company’s stock worth $298,000 after buying an additional 8 shares in the last quarter. Lido Advisors LLC raised its position in shares of MercadoLibre by 0.9% during the 2nd quarter. Lido Advisors LLC now owns 863 shares of the company’s stock worth $1,345,000 after buying an additional 8 shares in the last quarter. Finally, Souders Financial Advisors raised its position in shares of MercadoLibre by 3.6% during the 1st quarter. Souders Financial Advisors now owns 256 shares of the company’s stock worth $377,000 after buying an additional 9 shares in the last quarter. Institutional investors own 78.21% of the company’s stock.

In related news, Director Henrique Vasoncelos Dubugras bought 845 shares of the business’s stock in a transaction that occurred on Wednesday, August 18th. The stock was purchased at an average cost of $1,783.32 per share, for a total transaction of $1,506,905.40. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.39% of the stock is owned by corporate insiders.

A number of analysts recently commented on MELI shares. BTIG Research boosted their target price on shares of MercadoLibre from $1,720.00 to $1,930.00 and gave the stock a “buy” rating in a report on Thursday, August 5th. DZ Bank initiated coverage on shares of MercadoLibre in a report on Friday, July 9th. They issued a “buy” rating and a $1,900.00 target price on the stock. Credit Suisse Group reissued a “buy” rating and issued a $2,100.00 target price on shares of MercadoLibre in a research report on Friday, October 1st. Zacks Investment Research downgraded shares of MercadoLibre from a “strong-buy” rating to a “hold” rating and set a $1,672.00 price objective on the stock. in a research report on Wednesday, October 6th. Finally, Barclays boosted their price objective on shares of MercadoLibre from $2,000.00 to $2,100.00 and gave the company an “overweight” rating in a research report on Thursday, August 5th. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $1,911.22.

Shares of MercadoLibre stock opened at $1,518.43 on Thursday. The firm has a fifty day simple moving average of $1,785.82 and a 200-day simple moving average of $1,593.73. The company has a current ratio of 1.18, a quick ratio of 1.14 and a debt-to-equity ratio of 22.07. MercadoLibre, Inc. has a 1-year low of $1,192.14 and a 1-year high of $2,020.00. The stock has a market capitalization of $75.48 billion, a price-to-earnings ratio of -30,368.60 and a beta of 1.51.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Wednesday, August 4th. The company reported $1.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.09 by $1.28. MercadoLibre had a negative net margin of 0.02% and a positive return on equity of 5.55%. The business had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the previous year, the company earned $1.11 earnings per share. MercadoLibre’s revenue for the quarter was up 93.9% on a year-over-year basis. As a group, research analysts predict that MercadoLibre, Inc. will post 3.09 earnings per share for the current year.

About MercadoLibre

MercadoLibre, Inc engages in the provision of online commerce platform with focus on e-commerce and its related services. It operates through the following geographical segments: Brazil, Argentina, Mexico, Venezuela, and Other Countries. The firm provides users a mechanism for buying, selling and paying as well as collecting, generating leads, and comparing lists through e-commerce transactions.

Further Reading: Average Daily Trade Volume Explained

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Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)

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