Seaport Global Advisors LLC Trims Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Seaport Global Advisors LLC lessened its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 24.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 568 shares of the company’s stock after selling 179 shares during the quarter. MercadoLibre makes up approximately 3.3% of Seaport Global Advisors LLC’s investment portfolio, making the stock its 4th largest position. Seaport Global Advisors LLC’s holdings in MercadoLibre were worth $933,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. O Dell Group LLC increased 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 valued at $445,000 after buying an additional 6 shares during the period. Belpointe Asset Management LLC boosted its holdings in MercadoLibre by 1.0% in the second quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock valued at $1,016,000 after acquiring an additional 6 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in MercadoLibre by 0.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company’s stock valued at $2,419,000 after purchasing an additional 6 shares during the period. Evolutionary Tree Capital Management LLC raised its holdings in MercadoLibre by 0.3% during the 2nd quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company’s stock worth $3,403,000 after purchasing an additional 6 shares during the last quarter. Finally, Hilltop National Bank lifted its position 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 purchasing an additional 7 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MELI has been the subject of a number of analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $2,530.00 target price on shares of MercadoLibre in a research note on Monday, September 23rd. Raymond James assumed coverage on MercadoLibre in a research report on Friday. They issued an “outperform” rating and a $2,350.00 price objective for the company. The Goldman Sachs Group boosted their price objective on MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Barclays raised their target price on MercadoLibre from $2,000.00 to $2,100.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Finally, Citigroup boosted their price target on MercadoLibre from $2,000.00 to $2,200.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given 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 $2,217.50.

MercadoLibre Stock Down 1.7 %

MercadoLibre stock opened at $2,064.71 on Monday. The firm has a market capitalization of $104.67 billion, a price-to-earnings ratio of 92.38, a price-to-earnings-growth ratio of 1.34 and a beta of 1.61. The firm’s fifty day moving average price is $1,941.21 and its two-hundred day moving average price is $1,712.60. MercadoLibre, Inc. has a 1-year low of $1,141.04 and a 1-year high of $2,161.73. 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 announced its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, beating the consensus estimate of $8.53 by $1.95. The business had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The firm’s revenue for the quarter was up 41.5% compared to the same quarter last year. During the same quarter last year, the firm earned $5.16 EPS. On average, equities research analysts predict that MercadoLibre, Inc. will post 35.79 earnings per share for the current fiscal year.

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.