Brown Brothers Harriman & Co. Sells 49 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Brown Brothers Harriman & Co. cut its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 23.4% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 160 shares of the company’s stock after selling 49 shares during the period. Brown Brothers Harriman & Co.’s holdings in MercadoLibre were worth $263,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MELI. O Dell Group LLC grew its stake in shares of MercadoLibre by 2.1% in the first quarter. O Dell Group LLC now owns 294 shares of the company’s stock worth $445,000 after acquiring an additional 6 shares during the period. Belpointe Asset Management LLC lifted its holdings in shares of MercadoLibre by 1.0% during the 2nd quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock valued at $1,016,000 after buying an additional 6 shares during the period. Hilltop National Bank boosted its stake in shares of MercadoLibre by 14.3% in the 2nd quarter. Hilltop National Bank now owns 56 shares of the company’s stock worth $92,000 after buying an additional 7 shares during the last quarter. Contravisory Investment Management Inc. boosted its stake in shares of MercadoLibre by 5.1% in the 2nd quarter. Contravisory Investment Management Inc. now owns 143 shares of the company’s stock worth $235,000 after buying an additional 7 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in shares of MercadoLibre by 0.9% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 752 shares of the company’s stock worth $1,294,000 after acquiring an additional 7 shares during the period. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Price Performance

NASDAQ:MELI opened at $2,102.64 on Thursday. The business’s 50-day simple moving average is $1,884.30 and its two-hundred day simple moving average is $1,683.67. MercadoLibre, Inc. has a 52 week low of $1,141.04 and a 52 week high of $2,143.96. The stock has a market cap of $106.60 billion, a PE ratio of 94.08, a P/E/G ratio of 1.33 and a beta of 1.61. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.53 by $1.95. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The company had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter last year, the company earned $5.16 EPS. The firm’s quarterly revenue was up 41.5% on a year-over-year basis. As a group, analysts forecast that MercadoLibre, Inc. will post 35.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on MELI shares. StockNews.com cut MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Dbs Bank raised shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 11th. Barclays upped their target price on shares of MercadoLibre from $2,000.00 to $2,100.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. Susquehanna lifted their price target on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research note on Wednesday, August 28th. Finally, The Goldman Sachs Group upped their price objective on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus price target of $2,182.92.

MercadoLibre Company 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.