Saturna Capital Corp Decreases Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

by · The Markets Daily

Saturna Capital Corp lessened its position in shares of MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 8.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,550 shares of the company’s stock after selling 235 shares during the quarter. Saturna Capital Corp’s holdings in MercadoLibre were worth $4,975,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Prospect Financial Services LLC lifted its position in shares of MercadoLibre by 41.7% during the 1st quarter. Prospect Financial Services LLC now owns 340 shares of the company’s stock worth $663,000 after purchasing an additional 100 shares during the last quarter. Stratos Investment Management LLC acquired a new position in MercadoLibre during the first quarter worth about $203,000. JARISLOWSKY FRASER Ltd grew its position in MercadoLibre by 43.6% during the fourth quarter. JARISLOWSKY FRASER Ltd now owns 3,249 shares of the company’s stock worth $5,525,000 after buying an additional 987 shares during the period. Avant Financial Advisors LLC acquired a new stake in shares of MercadoLibre in the fourth quarter valued at approximately $316,000. Finally, Blue Sky Capital Consultants Group Inc. acquired a new stake in shares of MercadoLibre in the fourth quarter valued at approximately $2,500,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of MELI opened at $2,351.14 on Friday. The company’s 50 day moving average price is $2,493.54 and its 200 day moving average price is $2,176.24. MercadoLibre, Inc. has a 52 week low of $1,579.78 and a 52 week high of $2,645.22. The company has a market capitalization of $119.20 billion, a PE ratio of 57.82, a PEG ratio of 1.43 and a beta of 1.49. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.18 and a current ratio of 1.20.

MercadoLibre (NASDAQ:MELI – Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, topping the consensus estimate of $7.82 by $1.92. MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. The company had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.55 billion. During the same period in the previous year, the firm posted $6.78 earnings per share. The company’s revenue for the quarter was up 37.0% compared to the same quarter last year. Research analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MELI has been the topic of several recent analyst reports. UBS Group set a $3,000.00 price objective on shares of MercadoLibre in a research note on Monday, June 2nd. Morgan Stanley reissued an “overweight” rating on shares of MercadoLibre in a research note on Thursday, May 1st. Citigroup reaffirmed a “buy” rating on shares of MercadoLibre in a report on Friday, June 6th. Susquehanna reissued a “positive” rating and set a $2,975.00 price objective (up from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. Finally, Benchmark lowered shares of MercadoLibre from a “buy” rating to a “cautious” rating in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and a consensus target price of $2,645.94.

Get Our Latest Report on MercadoLibre

MercadoLibre Profile

(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.

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