GHP Investment Advisors Inc. Cuts Position in MercadoLibre, Inc. (NASDAQ:MELI)

GHP Investment Advisors Inc. decreased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 26.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25 shares of the company’s stock after selling 9 shares during the quarter. GHP Investment Advisors Inc.’s holdings in MercadoLibre were worth $51,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MELI. O Dell Group LLC lifted its position in shares of MercadoLibre by 2.1% during the 1st quarter. O Dell Group LLC now owns 294 shares of the company’s stock worth $445,000 after purchasing an additional 6 shares during the last quarter. Belpointe Asset Management LLC lifted its holdings in MercadoLibre by 1.0% during the 2nd quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock worth $1,016,000 after buying an additional 6 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of MercadoLibre by 0.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company’s stock worth $2,419,000 after acquiring an additional 6 shares in the last quarter. Evolutionary Tree Capital Management LLC increased its holdings in shares of MercadoLibre by 0.3% in the 2nd quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company’s stock valued at $3,403,000 after acquiring an additional 6 shares during the last quarter. Finally, Hilltop National Bank raised its position in shares of MercadoLibre by 14.3% during the 2nd quarter. Hilltop National Bank now owns 56 shares of the company’s stock worth $92,000 after acquiring an additional 7 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Up 0.4 %

Shares of NASDAQ:MELI opened at $2,056.09 on Tuesday. The company has a market cap of $104.24 billion, a price-to-earnings ratio of 92.00, a PEG ratio of 1.26 and a beta of 1.61. MercadoLibre, Inc. has a fifty-two week low of $1,205.80 and a fifty-two week high of $2,161.73. The firm’s 50-day simple moving average is $2,047.64 and its 200-day simple moving average is $1,789.72. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.53 by $1.95. The company had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $4.64 billion. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The firm’s quarterly revenue was up 41.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.16 EPS. As a group, equities research analysts predict that MercadoLibre, Inc. will post 37.55 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MELI. Citigroup upped their price target on MercadoLibre from $2,200.00 to $2,480.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. downgraded shares of MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 target price on the stock. in a research report on Wednesday, October 2nd. Redburn Atlantic began coverage on shares of MercadoLibre in a research report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price target for the company. Barclays raised their price objective on MercadoLibre from $2,100.00 to $2,500.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Finally, Raymond James began coverage on MercadoLibre in a report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 target price for the company. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $2,301.67.

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.