Slow Capital Inc. cut its holdings in shares of Mercadolibre Inc (NASDAQ:MELI) by 6.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,700 shares of the company’s stock after selling 187 shares during the quarter. Slow Capital Inc.’s holdings in Mercadolibre were worth $1,652,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Harvest Group Wealth Management LLC purchased a new position in shares of Mercadolibre in the 1st quarter worth about $28,000. NEXT Financial Group Inc raised its holdings in shares of Mercadolibre by 104.3% in the 2nd quarter. NEXT Financial Group Inc now owns 47 shares of the company’s stock worth $29,000 after purchasing an additional 24 shares during the period. Icon Wealth Partners LLC purchased a new position in shares of Mercadolibre in the 1st quarter worth about $32,000. CENTRAL TRUST Co raised its holdings in shares of Mercadolibre by 62.5% in the 2nd quarter. CENTRAL TRUST Co now owns 52 shares of the company’s stock worth $33,000 after purchasing an additional 20 shares during the period. Finally, Shine Investment Advisory Services Inc. purchased a new position in shares of Mercadolibre in the 1st quarter worth about $34,000. Hedge funds and other institutional investors own 84.06% of the company’s stock.

Shares of NASDAQ MELI traded up $15.24 during mid-day trading on Tuesday, reaching $638.89. The company had a trading volume of 29,758 shares, compared to its average volume of 535,293. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.82 and a current ratio of 2.82. The stock has a market capitalization of $34.03 billion, a PE ratio of -776.39 and a beta of 1.76. The business has a 50-day moving average price of $633.56. Mercadolibre Inc has a 1-year low of $257.52 and a 1-year high of $698.98.

Mercadolibre (NASDAQ:MELI) last issued its earnings results on Wednesday, August 7th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.03. Mercadolibre had a return on equity of 1.62% and a net margin of 0.87%. The business had revenue of $545.24 million for the quarter, compared to analysts’ expectations of $507.68 million. During the same period in the previous year, the firm posted ($0.25) EPS. The company’s quarterly revenue was up 62.6% on a year-over-year basis. Sell-side analysts predict that Mercadolibre Inc will post 0.79 earnings per share for the current fiscal year.

A number of equities analysts have recently commented on the company. Citigroup upgraded Mercadolibre from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $609.00 to $729.00 in a report on Thursday, August 8th. UBS Group set a $730.00 price objective on Mercadolibre and gave the stock a “buy” rating in a report on Wednesday, June 26th. Credit Suisse Group increased their target price on Mercadolibre from $640.00 to $710.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. They noted that the move was a valuation call. JPMorgan Chase & Co. upgraded Mercadolibre from a “neutral” rating to an “overweight” rating and increased their target price for the company from $563.00 to $750.00 in a research note on Tuesday. Finally, BidaskClub lowered Mercadolibre from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $618.60.

Mercadolibre Company Profile

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, 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, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.

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Institutional Ownership by Quarter for Mercadolibre (NASDAQ:MELI)

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