Valeo Financial Advisors LLC Lowers Shares in MercadoLibre, Inc. (NASDAQ:MELI)

Financial Advisors


Valeo Financial Advisors LLC reduced its equity position in MercadoLibre, Inc. (NASDAQ:MELI – Get Rating) by 17.9% during the fourth quarter, according to a recent disclosure to the Securities and Exchange Commission (SEC). The institutional investor owned 924 shares in the company after selling 201 shares during the quarter. Valeo Financial Advisors LLC’s MercadoLibre holding was valued at $782,000 as of the latest SEC filing.

Several other large investors have also added or reduced their stakes in MELI. Amalgamated Bank increased its MercadoLibre stake by 93.8% in the third quarter. Amalgamated Bank bought 15 more shares last quarter and now owns 31 shares in the company worth $26,000. Huntington National Bank increased its MercadoLibre stake by 45.8% in the third quarter. Huntington National Bank bought an additional 11 shares last quarter and now owns 35 shares in the company, valued at $29,000. Atlas Capital Advisors LLC increased its MercadoLibre shareholding by 414.3% in the third quarter. Atlas Capital Advisors LLC purchased an additional 29 shares last quarter and now owns 36 shares of the company worth $30,000. CVA Family Office LLC increased its MercadoLibre shareholding by 3,600.0% in the third quarter. CVA Family Office LLC purchased an additional 36 shares last quarter and now owns 37 shares of the company, valued at $31,000. Finally, Hollencrest Capital Management purchased a new position in his MercadoLibre shares in the fourth quarter worth $32,000. Hedge funds and other institutional investors hold 80.49% of the company’s shares.

Wall Street analyst speaks out

Several equity analysts have recently commented on the MELI stock. BTIG Research raised its price target on MercadoLibre shares to $1,600.00 from $1,400.00 in a report on Thursday, May 4. On Wednesday, February 15, TheStreet upgraded MercadoLibre shares from a ‘c’ rating to a ‘b-‘ rating in a research note. Morgan Stanley raised its price target on MercadoLibre stock to $1,770.00 from $1,620.00 in a research note on Friday, March 31. StockNews.com began covering MercadoLibre shares in a research note on Thursday, March 16th. They set a “Hold” rating on the stock. Finally, Bank of America raised its price target on MercadoLibre shares from $1,400.00 to $1,680.00, giving the company a Buy rating in its research note on Thursday, April 13. Three equity research analysts rated the company as a “hold”, while six rated it as a “buy”. Based on MarketBeat data, MercadoLibre currently has an average rating of “moderate buy” and an average target price of $1,480.50.

Insider trading on MercadoLibre

In related news, director Emiliano Karemzuk sold 150 shares in the company in a transaction on Tuesday, March 7. The shares were sold at an average price of $1,256.00 for a total of $188,400.00. Following the transaction, the directors own 115 shares of the company’s stock, valued at approximately $144,440. The transaction was disclosed in legal filings with the Securities and Exchange Commission, available at this link. Insiders own 0.27% of the company’s shares.

MercadoLibre price performance

MercadoLibre shares opened Friday at $1,279.67. The company’s 50-day moving average price is $1,250.05 and its 200-day moving average price is $1,084.87. The company has a market capitalization of $64.25 billion, a P/E ratio of 104.81 times, a price/earnings multiple of 1.68 times, and a beta of 1.57 times. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt to equity ratio of 1.23. MercadoLibre hit a 12-month low of $600.68 and a high of $1,337.75.

MercadoLibre (NASDAQ:MELI – Get Rating) last reported results on Wednesday, May 3rd. The company reported earnings per share (EPS) of $3.97 for the quarter, beating consensus expectations of $3.04 by $0.93. The company had revenue of $3.04 billion for the quarter, compared with analyst expectations of $2.88 billion. MercadoLibre posted a net profit margin of 5.46% and a return on equity of 34.92%. Revenue for this business increased by 35.1% year-on-year. His EPS for the same business in the same period last year was $1.30. As a group, equity research analysts expect MercadoLibre, Inc. to post 15.55 EPS for the year.

MercadoLibre Company Profile

(get rating)

MercadoLibre, Inc is committed to developing online commerce platforms with a focus on e-commerce and related services. It operates through geographic segments: Brazil, Argentina, Mexico and other countries. The Other Countries segment includes Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Panama, Peru, Bolivia, Honduras, Nicaragua, El Salvador, Guatemala, Paraguay, Uruguay, and the United States.

References

Want to know if other hedge funds hold MELI? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for MercadoLibre, Inc. (NASDAQ:MELI – Get Rating).

MercadoLibre Quarterly Institutional Ownership (NASDAQ:MELI)

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