Mercadolibre Inc (NASDAQ:MELI) Shares Sold by Cumberland Advisors Inc.

Cumberland Advisors Inc. trimmed its holdings in shares of Mercadolibre Inc (NASDAQ:MELI) by 24.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,900 shares of the company’s stock after selling 600 shares during the quarter. Cumberland Advisors Inc.’s holdings in Mercadolibre were worth $965,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Norges Bank purchased a new stake in Mercadolibre in the fourth quarter valued at approximately $110,161,000. FMR LLC raised its stake in shares of Mercadolibre by 11.3% during the fourth quarter. FMR LLC now owns 1,017,995 shares of the company’s stock worth $298,119,000 after acquiring an additional 103,215 shares in the last quarter. Executive Wealth Management LLC purchased a new position in shares of Mercadolibre during the fourth quarter worth approximately $112,000. Public Employees Retirement System of Ohio raised its stake in shares of Mercadolibre by 2.7% during the fourth quarter. Public Employees Retirement System of Ohio now owns 56,452 shares of the company’s stock worth $16,532,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Millennium Management LLC purchased a new position in shares of Mercadolibre during the fourth quarter worth approximately $6,398,000. 91.12% of the stock is currently owned by institutional investors.

In other Mercadolibre news, Director Emiliano Calemzuk purchased 120 shares of the stock in a transaction on Saturday, March 9th. The stock was acquired at an average price of $414.14 per share, with a total value of $49,696.80. Following the completion of the acquisition, the director now owns 2,669 shares in the company, valued at $1,105,339.66. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.32% of the stock is currently owned by company insiders.

Several research analysts have commented on the stock. HSBC downgraded shares of Mercadolibre from a “buy” rating to a “hold” rating and set a $512.99 price target on the stock. in a research note on Wednesday, April 10th. Bank of America restated a “buy” rating and set a $600.00 target price on shares of Mercadolibre in a report on Wednesday, April 3rd. Stifel Nicolaus lowered Mercadolibre from a “buy” rating to a “hold” rating and set a $490.00 price target for the company. in a research report on Thursday, March 14th. BTIG Research boosted their target price on Mercadolibre to $535.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. Finally, JPMorgan Chase & Co. boosted their target price on Mercadolibre from $430.00 to $515.00 and gave the stock an “overweight” rating in a research report on Monday, March 11th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $443.92.

MELI stock traded down $12.49 during midday trading on Wednesday, reaching $489.47. The company’s stock had a trading volume of 8,428 shares, compared to its average volume of 511,174. The company has a quick ratio of 1.29, a current ratio of 1.30 and a debt-to-equity ratio of 1.79. Mercadolibre Inc has a 1 year low of $257.52 and a 1 year high of $527.09. The firm has a market cap of $22.59 billion, a price-to-earnings ratio of -597.13 and a beta of 2.22.

Mercadolibre (NASDAQ:MELI) last posted its quarterly earnings results on Tuesday, February 26th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.13. The business had revenue of $428.00 million for the quarter, compared to the consensus estimate of $400.80 million. Mercadolibre had a negative return on equity of 13.47% and a negative net margin of 2.54%. The business’s revenue was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.53) EPS. Research analysts expect that Mercadolibre Inc will post 0.4 EPS for the current year.

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About Mercadolibre

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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Institutional Ownership by Quarter for Mercadolibre (NASDAQ:MELI)

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