MercadoLibre, Inc. $MELI Shares Sold by Evolutionary Tree Capital Management LLC

by · The Cerbat Gem

Evolutionary Tree Capital Management LLC decreased its position in MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 9.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,774 shares of the company’s stock after selling 191 shares during the quarter. MercadoLibre accounts for about 4.9% of Evolutionary Tree Capital Management LLC’s holdings, making the stock its 6th biggest holding. Evolutionary Tree Capital Management LLC’s holdings in MercadoLibre were worth $4,637,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in MELI. Brooklyn Investment Group boosted its position in shares of MercadoLibre by 650.0% during the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock worth $29,000 after acquiring an additional 13 shares in the last quarter. Twin Tree Management LP acquired a new stake in shares of MercadoLibre during the 1st quarter worth about $29,000. Saudi Central Bank purchased a new stake in MercadoLibre during the first quarter worth approximately $35,000. McIlrath & Eck LLC boosted its holdings in MercadoLibre by 375.0% in the first quarter. McIlrath & Eck LLC now owns 19 shares of the company’s stock valued at $37,000 after purchasing an additional 15 shares in the last quarter. Finally, Highline Wealth Partners LLC boosted its holdings in MercadoLibre by 366.7% in the second quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock valued at $37,000 after purchasing an additional 11 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

MELI has been the topic of several analyst reports. Wedbush lifted their target price on MercadoLibre from $2,700.00 to $2,800.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. JPMorgan Chase & Co. lifted their price objective on shares of MercadoLibre from $2,600.00 to $2,650.00 and gave the company a “neutral” rating in a research report on Monday, November 3rd. Weiss Ratings restated a “buy (b-)” rating on shares of MercadoLibre in a research report on Friday, October 31st. Raymond James Financial restated a “strong-buy” rating and issued a $2,750.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. Finally, Barclays boosted their price target on shares of MercadoLibre from $2,800.00 to $2,900.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $2,848.82.

Check Out Our Latest Analysis on MELI

MercadoLibre Stock Performance

Shares of MELI opened at $2,082.00 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week high of $2,645.22. The company has a 50-day simple moving average of $2,184.85 and a 200-day simple moving average of $2,350.98. The company has a market capitalization of $105.55 billion, a PE ratio of 50.81, a P/E/G ratio of 1.56 and a beta of 1.51.

MercadoLibre (NASDAQ:MELI – Get Free Report) last issued its earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share for the quarter, missing the consensus estimate of $9.88 by ($1.56). MercadoLibre had a return on equity of 41.35% and a net margin of 7.93%.The company had revenue of $7.41 billion for the quarter, compared to analyst estimates of $7.19 billion. During the same quarter in the previous year, the company posted $7.83 earnings per share. The company’s quarterly revenue was up 39.5% compared to the same quarter last year. Equities research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

About MercadoLibre

(Free Report)

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.

Further Reading