nVerses Capital LLC Sells 300 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

nVerses Capital LLC cut its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 75.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 100 shares of the company’s stock after selling 300 shares during the period. nVerses Capital LLC’s holdings in MercadoLibre were worth $205,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of MELI. American International Group Inc. lifted its stake in MercadoLibre by 2.9% in the 4th quarter. American International Group Inc. now owns 3,513 shares of the company’s stock valued at $5,521,000 after purchasing an additional 100 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of MercadoLibre by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 182,392 shares of the company’s stock valued at $286,636,000 after acquiring an additional 3,577 shares in the last quarter. Park Avenue Securities LLC grew its position in MercadoLibre by 12.8% during the 1st quarter. Park Avenue Securities LLC now owns 1,705 shares of the company’s stock worth $2,578,000 after acquiring an additional 194 shares during the last quarter. Salem Investment Counselors Inc. increased its holdings in MercadoLibre by 501.3% in the 1st quarter. Salem Investment Counselors Inc. now owns 481 shares of the company’s stock worth $727,000 after purchasing an additional 401 shares in the last quarter. Finally, First PREMIER Bank acquired a new position in MercadoLibre in the 1st quarter worth about $27,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

MELI has been the subject of several recent research reports. Dbs Bank raised MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. JPMorgan Chase & Co. cut shares of MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 price target for the company. in a research report on Wednesday, October 2nd. Raymond James began coverage on shares of MercadoLibre in a report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 price target on the stock. Susquehanna increased their price objective on MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a report on Wednesday, August 28th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $2,530.00 target price on shares of MercadoLibre in a report on Monday, October 7th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $2,283.00.

MercadoLibre Trading Up 0.7 %

NASDAQ MELI opened at $2,079.79 on Friday. MercadoLibre, Inc. has a 52 week low of $1,141.04 and a 52 week high of $2,161.73. The business has a 50 day moving average price of $2,034.69 and a 200-day moving average price of $1,763.90. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. The company has a market cap of $105.44 billion, a price-to-earnings ratio of 93.06, a P/E/G ratio of 1.25 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, beating analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The business had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same quarter in the previous year, the business posted $5.16 EPS. MercadoLibre’s quarterly revenue was up 41.5% on a year-over-year basis. As a group, equities analysts expect that MercadoLibre, Inc. will post 37.55 earnings per share for the current fiscal year.

About MercadoLibre

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.