Twelve Points Wealth Management LLC Sells 12 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Twelve Points Wealth Management LLC reduced its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 4.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 271 shares of the company’s stock after selling 12 shares during the quarter. Twelve Points Wealth Management LLC’s holdings in MercadoLibre were worth $556,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Sumitomo Life Insurance Co. bought a new position in shares of MercadoLibre during the 3rd quarter valued at approximately $2,257,000. Jamison Private Wealth Management Inc. boosted its stake in MercadoLibre by 10.8% during the third quarter. Jamison Private Wealth Management Inc. now owns 1,336 shares of the company’s stock worth $2,741,000 after buying an additional 130 shares during the period. Petredis Investment Advisors LLC increased its position in MercadoLibre by 2.6% during the third quarter. Petredis Investment Advisors LLC now owns 2,328 shares of the company’s stock valued at $4,777,000 after acquiring an additional 60 shares during the last quarter. Prospect Financial Services LLC purchased a new stake in shares of MercadoLibre in the third quarter valued at $402,000. Finally, Swedbank AB lifted its holdings in shares of MercadoLibre by 352.8% in the 3rd quarter. Swedbank AB now owns 94,123 shares of the company’s stock worth $193,137,000 after acquiring an additional 73,336 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on MELI shares. The Goldman Sachs Group upped their price target on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Bank of America increased their price target on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Susquehanna boosted 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. Dbs Bank upgraded MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. Finally, Raymond James initiated coverage on shares of MercadoLibre in a research note on Friday, September 27th. They set an “outperform” rating and a $2,350.00 target price for the company. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $2,283.00.

MercadoLibre Stock Up 0.6 %

MercadoLibre stock opened at $2,046.47 on Thursday. 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 firm has a market cap of $103.75 billion, a P/E ratio of 91.56, a P/E/G ratio of 1.25 and a beta of 1.61. The business has a fifty day moving average of $2,026.84 and a two-hundred day moving average of $1,756.18. MercadoLibre, Inc. has a twelve month low of $1,141.04 and a twelve month high of $2,161.73.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, topping the consensus estimate of $8.53 by $1.95. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The firm had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same period in the previous year, the company posted $5.16 EPS. The business’s revenue for the quarter was up 41.5% compared to the same quarter last year. On average, analysts forecast 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.