Commonwealth Bank of Australia lessened its position in shares of Mercadolibre Inc (NASDAQ:MELI) by 37.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 659 shares of the company’s stock after selling 387 shares during the quarter. Commonwealth Bank of Australia’s holdings in Mercadolibre were worth $223,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC increased its holdings in Mercadolibre by 79.7% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 408 shares of the company’s stock valued at $139,000 after purchasing an additional 181 shares during the last quarter. Financial Gravity Wealth Inc. increased its holdings in Mercadolibre by 151.3% in the 3rd quarter. Financial Gravity Wealth Inc. now owns 671 shares of the company’s stock valued at $193,000 after purchasing an additional 404 shares during the last quarter. HMS Capital Management LLC acquired a new stake in Mercadolibre in the 2nd quarter valued at approximately $211,000. Wagner Bowman Management Corp acquired a new stake in Mercadolibre in the 3rd quarter valued at approximately $214,000. Finally, Harbour Capital Advisors LLC acquired a new stake in Mercadolibre in the 3rd quarter valued at approximately $234,000. 91.40% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently weighed in on the stock. Credit Suisse Group dropped their target price on shares of Mercadolibre from $425.00 to $420.00 and set an “outperform” rating for the company in a report on Thursday, August 9th. ValuEngine upgraded shares of Mercadolibre from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 9th. BidaskClub upgraded shares of Mercadolibre from a “hold” rating to a “buy” rating in a report on Tuesday, November 6th. Barclays lifted their target price on shares of Mercadolibre from $360.00 to $370.00 and gave the company an “overweight” rating in a report on Friday, November 2nd. Finally, Piper Jaffray Companies dropped their target price on shares of Mercadolibre to $340.00 and set an “overweight” rating for the company in a report on Tuesday, October 30th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Mercadolibre currently has an average rating of “Buy” and an average target price of $362.62.
Mercadolibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, November 1st. The company reported ($0.23) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.13). The business had revenue of $355.30 million during the quarter, compared to analyst estimates of $352.75 million. Mercadolibre had a negative return on equity of 9.47% and a negative net margin of 7.04%. The business’s revenue was up 16.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.63 EPS. On average, sell-side analysts anticipate that Mercadolibre Inc will post -0.99 earnings per share for the current fiscal year.
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MercadoLibre, Inc hosts online commerce platforms in Latin America. It offers MercadoLibre Marketplace, an automated online commerce service for businesses and individuals to list items and conduct their sales and purchases online in a fixed-price or auction-based format. The company's Marketplace platform enables commerce through online classifieds for motor vehicles, vessels, aircraft, services, and real estate; and Internet users to browse through various products that are listed on its Website and to register with MercadoLibre to list and purchase items and services.
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