DAVENPORT & Co LLC Sells 2,327 Shares of Mercadolibre Inc (MELI)

DAVENPORT & Co LLC reduced its stake in shares of Mercadolibre Inc (NASDAQ:MELI) by 3.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 69,824 shares of the company’s stock after selling 2,327 shares during the period. DAVENPORT & Co LLC owned 0.15% of Mercadolibre worth $35,452,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Shine Investment Advisory Services Inc. bought a new stake in Mercadolibre during the first quarter valued at about $34,000. Csenge Advisory Group bought a new stake in Mercadolibre during the third quarter valued at about $42,000. We Are One Seven LLC bought a new stake in Mercadolibre during the fourth quarter valued at about $51,000. Larson Financial Group LLC bought a new stake in Mercadolibre during the fourth quarter valued at about $59,000. Finally, Bogart Wealth LLC raised its position in shares of Mercadolibre by 15.8% during the fourth quarter. Bogart Wealth LLC now owns 374 shares of the company’s stock valued at $109,000 after buying an additional 51 shares during the last quarter. Institutional investors and hedge funds own 82.80% of the company’s stock.

In related news, Director Emiliano Calemzuk purchased 120 shares of the firm’s stock in a transaction dated Saturday, March 9th. The shares were acquired at an average cost of $414.14 per share, with a total value of $49,696.80. Following the completion of the purchase, the director now directly owns 2,669 shares of the company’s stock, valued at $1,105,339.66. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.32% of the stock is owned by corporate insiders.

A number of brokerages have recently commented on MELI. Barclays reaffirmed a “buy” rating on shares of Mercadolibre in a research report on Sunday, May 5th. Stifel Nicolaus increased their price target on shares of Mercadolibre from $500.00 to $560.00 and gave the stock a “hold” rating in a research report on Friday, May 3rd. BBA Icatu Securities lowered shares of Mercadolibre from an “outperform” rating to an “underperform” rating and increased their price target for the stock from $400.00 to $520.00 in a research report on Wednesday. HSBC lowered shares of Mercadolibre from a “buy” rating to a “hold” rating and set a $512.99 price target for the company. in a research report on Wednesday, April 10th. Finally, Bank of America reissued a “buy” rating and issued a $600.00 price target on shares of Mercadolibre in a research report on Wednesday, April 3rd. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $471.31.

MELI opened at $542.64 on Friday. Mercadolibre Inc has a one year low of $257.52 and a one year high of $589.56. The company has a current ratio of 1.30, a quick ratio of 1.29 and a debt-to-equity ratio of 1.79. The company has a market cap of $26.76 billion, a PE ratio of -661.76 and a beta of 2.14.

Mercadolibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.14. Mercadolibre had a negative net margin of 0.74% and a negative return on equity of 4.25%. The business had revenue of $474.00 million for the quarter, compared to analysts’ expectations of $423.19 million. During the same period in the prior year, the firm earned ($0.29) earnings per share. Mercadolibre’s revenue was up 47.7% compared to the same quarter last year. As a group, equities analysts anticipate that Mercadolibre Inc will post 0.31 EPS for the current fiscal year.

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Mercadolibre Profile

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, 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, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.

Read More: Intrinsic Value and Stock Selection

Institutional Ownership by Quarter for Mercadolibre (NASDAQ:MELI)

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