MercadoLibre (MELI) Shares Down 0.9%

MercadoLibre (NASDAQ:MELI) fell 0.9% on Thursday . The company traded as low as $328.38 and last traded at $331.79. 465,151 shares traded hands during mid-day trading, a decline of 29% from the average session volume of 657,805 shares. The stock had previously closed at $328.70.

A number of brokerages have weighed in on MELI. Zacks Investment Research upgraded shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 9th. Piper Jaffray upped their price objective on shares of MercadoLibre from $268.00 to $330.00 and gave the stock an “overweight” rating in a report on Wednesday, December 13th. Bank of America restated a “buy” rating and issued a $450.00 price objective (up previously from $385.00) on shares of MercadoLibre in a report on Wednesday. Citigroup cut shares of MercadoLibre from a “neutral” rating to a “sell” rating and set a $230.00 price objective on the stock. in a report on Wednesday, December 20th. Finally, Stifel Nicolaus cut shares of MercadoLibre from a “buy” rating to a “hold” rating and cut their price objective for the stock from $425.00 to $405.00 in a report on Thursday, March 15th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $338.67.

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The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.96. The firm has a market cap of $15,359.25, a P/E ratio of 130.32 and a beta of 2.07.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.20 EPS for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.35). MercadoLibre had a net margin of 0.99% and a return on equity of 26.75%. The firm had revenue of $436.98 million for the quarter, compared to analysts’ expectations of $404.74 million. analysts expect that MercadoLibre will post 2.08 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of MELI. Fieldpoint Private Securities LLC purchased a new stake in shares of MercadoLibre during the third quarter valued at approximately $104,000. Dumac Inc. grew its holdings in shares of MercadoLibre by 105.6% during the fourth quarter. Dumac Inc. now owns 370 shares of the company’s stock valued at $116,000 after buying an additional 190 shares during the last quarter. Financial Gravity Companies Inc. purchased a new stake in shares of MercadoLibre during the fourth quarter valued at approximately $140,000. Elkfork Partners LLC purchased a new stake in shares of MercadoLibre during the fourth quarter valued at approximately $185,000. Finally, Green Square Capital LLC purchased a new stake in shares of MercadoLibre during the fourth quarter valued at approximately $200,000. Hedge funds and other institutional investors own 92.12% of the company’s stock.

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MercadoLibre Company Profile

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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