Angeles Investment Advisors LLC Lowers Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Angeles Investment Advisors LLC cut its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 14.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 135 shares of the company’s stock after selling 23 shares during the period. Angeles Investment Advisors LLC’s holdings in MercadoLibre were worth $222,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of MELI. First PREMIER Bank purchased a new position in shares of MercadoLibre during the first quarter worth approximately $27,000. Migdal Insurance & Financial Holdings Ltd. grew its position in MercadoLibre by 1,600.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after buying an additional 16 shares during the last quarter. DSM Capital Partners LLC purchased a new position in MercadoLibre in the 4th quarter valued at $36,000. Scarborough Advisors LLC purchased a new position in MercadoLibre in the 4th quarter valued at $36,000. Finally, Financial Connections Group Inc. purchased a new position in MercadoLibre in the 2nd quarter valued at $36,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Trading Down 0.8 %

MercadoLibre stock opened at $2,105.51 on Tuesday. The stock has a market cap of $106.74 billion, a PE ratio of 94.21, a P/E/G ratio of 1.33 and a beta of 1.61. The stock has a 50-day moving average price of $1,869.28 and a 200 day moving average price of $1,677.47. MercadoLibre, Inc. has a 52 week low of $1,141.04 and a 52 week high of $2,143.96. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, August 1st. The company reported $10.48 EPS for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. The firm had revenue of $5.07 billion during 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% compared to the same quarter last year. During the same quarter last year, the business posted $5.16 EPS. Equities research analysts predict that MercadoLibre, Inc. will post 35.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MELI has been the topic of a number of analyst reports. StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Cantor Fitzgerald initiated coverage on MercadoLibre in a report on Thursday, September 5th. They issued an “overweight” rating and a $2,530.00 target price for the company. Bank of America raised their target price on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a report on Thursday, September 12th. Dbs Bank raised MercadoLibre from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 11th. Finally, Citigroup raised their target price on MercadoLibre from $2,000.00 to $2,200.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, MercadoLibre presently has an average rating of “Moderate Buy” and a consensus price target of $2,182.92.

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.