Creekmur Asset Management LLC Trims Position in MercadoLibre, Inc. (NASDAQ:MELI)

Creekmur Asset Management LLC cut its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 4.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 349 shares of the company’s stock after selling 17 shares during the quarter. Creekmur Asset Management LLC’s holdings in MercadoLibre were worth $716,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Capital World Investors increased its holdings in shares of MercadoLibre by 12.7% during the 1st quarter. Capital World Investors now owns 845,749 shares of the company’s stock valued at $1,278,738,000 after purchasing an additional 95,029 shares in the last quarter. GQG Partners LLC increased its holdings in shares of MercadoLibre by 442.2% during the 1st quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock valued at $1,201,679,000 after purchasing an additional 648,198 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of MercadoLibre by 43.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock valued at $1,167,073,000 after purchasing an additional 232,787 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of MercadoLibre by 55.8% during the 1st quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock valued at $557,225,000 after purchasing an additional 132,028 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of MercadoLibre by 3.6% during the 2nd quarter. Legal & General Group Plc now owns 323,570 shares of the company’s stock valued at $531,755,000 after purchasing an additional 11,265 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Trading Up 0.1 %

Shares of MELI opened at $2,028.21 on Wednesday. MercadoLibre, Inc. has a 52-week low of $1,205.80 and a 52-week high of $2,161.73. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. The firm’s fifty day moving average is $2,048.06 and its two-hundred day moving average is $1,793.83. The stock has a market cap of $102.82 billion, a PE ratio of 90.67, a price-to-earnings-growth ratio of 1.26 and a beta of 1.61.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on MELI shares. Dbs Bank raised shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $2,530.00 target price on shares of MercadoLibre in a report on Monday, October 7th. BTIG Research lifted their price target on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Citigroup lifted their price target on shares of MercadoLibre from $2,200.00 to $2,480.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $2,301.67.

About MercadoLibre

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.