Cetera Advisor Networks LLC Cuts Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Cetera Advisor Networks LLC lowered its stake in MercadoLibre, Inc. (NASDAQ:MELIGet Rating) by 17.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,373 shares of the company’s stock after selling 299 shares during the quarter. Cetera Advisor Networks LLC’s holdings in MercadoLibre were worth $1,633,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in MELI. United Asset Strategies Inc. grew its holdings in shares of MercadoLibre by 5.8% in the first quarter. United Asset Strategies Inc. now owns 182 shares of the company’s stock valued at $216,000 after purchasing an additional 10 shares in the last quarter. Gateway Investment Advisers LLC lifted its position in MercadoLibre by 0.4% during the first quarter. Gateway Investment Advisers LLC now owns 2,648 shares of the company’s stock valued at $3,150,000 after purchasing an additional 11 shares during the last quarter. Aberdeen Wealth Management LLC grew its stake in shares of MercadoLibre by 8.6% in the 4th quarter. Aberdeen Wealth Management LLC now owns 152 shares of the company’s stock worth $205,000 after buying an additional 12 shares in the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its holdings in shares of MercadoLibre by 4.7% in the 1st quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 268 shares of the company’s stock worth $319,000 after buying an additional 12 shares during the last quarter. Finally, Tamar Securities LLC raised its position in shares of MercadoLibre by 6.7% during the 1st quarter. Tamar Securities LLC now owns 192 shares of the company’s stock valued at $228,000 after buying an additional 12 shares in the last quarter. Institutional investors own 89.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. New Street Research initiated coverage on MercadoLibre in a research report on Wednesday, July 6th. They issued a “buy” rating and a $1,100.00 price target for the company. StockNews.com raised MercadoLibre from a “sell” rating to a “hold” rating in a research report on Thursday, August 4th. Credit Suisse Group raised their price target on MercadoLibre from $1,430.00 to $1,470.00 and gave the stock an “outperform” rating in a research report on Thursday, August 4th. JPMorgan Chase & Co. boosted their price objective on shares of MercadoLibre from $1,300.00 to $1,350.00 in a research report on Monday, August 8th. Finally, Jefferies Financial Group lowered their target price on shares of MercadoLibre from $850.00 to $800.00 in a report on Thursday, July 21st. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and an average price target of $1,388.18.

MercadoLibre Trading Down 0.3 %

MELI stock opened at $855.91 on Friday. MercadoLibre, Inc. has a 12 month low of $600.68 and a 12 month high of $1,962.79. The firm’s 50-day moving average is $822.47 and its 200 day moving average is $912.18. The company has a market capitalization of $43.08 billion, a PE ratio of 180.95 and a beta of 1.68. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.30 and a quick ratio of 1.27.

MercadoLibre (NASDAQ:MELIGet Rating) last issued its earnings results on Wednesday, August 3rd. The company reported $2.43 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.75. MercadoLibre had a net margin of 2.68% and a return on equity of 19.66%. During the same quarter last year, the firm earned $1.37 EPS. On average, research analysts anticipate that MercadoLibre, Inc. will post 7.76 EPS for the current year.

About MercadoLibre

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MercadoLibre, Inc operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; 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.

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Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)

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