Ensign Peak Advisors Inc Reduces Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Ensign Peak Advisors Inc lowered its position in MercadoLibre, Inc. (NASDAQ:MELI) by 6.9% during the second quarter, HoldingsChannel reports. The firm owned 44,699 shares of the company’s stock after selling 3,308 shares during the period. Ensign Peak Advisors Inc’s holdings in MercadoLibre were worth $73,458,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First PREMIER Bank acquired a new position in MercadoLibre during the first quarter worth about $27,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in MercadoLibre by 1,600.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after buying an additional 16 shares in the last quarter. DSM Capital Partners LLC acquired a new position in MercadoLibre during the fourth quarter worth $36,000. Scarborough Advisors LLC purchased a new stake in MercadoLibre in the 4th quarter valued at $36,000. Finally, Financial Connections Group Inc. acquired a new stake in shares of MercadoLibre in the 2nd quarter worth $36,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $2,103.75 on Friday. MercadoLibre, Inc. has a 12 month low of $1,141.04 and a 12 month high of $2,157.64. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26. The firm has a market capitalization of $106.65 billion, a PE ratio of 94.13, a price-to-earnings-growth ratio of 1.33 and a beta of 1.61. The business’s fifty day moving average price is $1,899.17 and its 200 day moving average price is $1,691.54.

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MELI. Dbs Bank raised shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 11th. StockNews.com downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. JPMorgan Chase & Co. upped their price objective on MercadoLibre from $2,150.00 to $2,400.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. Citigroup raised their target price on MercadoLibre from $2,000.00 to $2,200.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Finally, Susquehanna upped their price target on MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research note on Wednesday, August 28th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and an average target price of $2,207.31.

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.