Krane Funds Advisors LLC Sells 76 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Krane Funds Advisors LLC lessened its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 30.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 176 shares of the company’s stock after selling 76 shares during the quarter. Krane Funds Advisors LLC’s holdings in MercadoLibre were worth $361,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of MELI. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of MercadoLibre by 1,600.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after purchasing an additional 16 shares in the last quarter. Optimum Investment Advisors boosted its stake in shares of MercadoLibre by 750.0% in the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after purchasing an additional 15 shares in the last quarter. Financial Connections Group Inc. bought a new position in shares of MercadoLibre during the second quarter valued at about $36,000. Quarry LP purchased a new position in MercadoLibre in the 2nd quarter worth approximately $43,000. Finally, NBC Securities Inc. boosted its stake in shares of MercadoLibre by 35.0% during the third quarter. NBC Securities Inc. now owns 27 shares of the company’s stock valued at $55,000 after purchasing an additional 7 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on MELI. BTIG Research boosted their price target on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Morgan Stanley boosted their target price on shares of MercadoLibre from $2,175.00 to $2,500.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Citigroup increased their price target on shares of MercadoLibre from $2,000.00 to $2,200.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Cantor Fitzgerald restated an “overweight” rating and issued a $2,530.00 price objective on shares of MercadoLibre in a report on Monday, October 7th. Finally, Bank of America boosted their price target on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $2,283.00.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $2,100.58 on Tuesday. The firm has a market cap of $106.49 billion, a price-to-earnings ratio of 93.99, a P/E/G ratio of 1.25 and a beta of 1.61. MercadoLibre, Inc. has a fifty-two week low of $1,141.04 and a fifty-two week high of $2,161.73. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. The firm has a fifty day moving average price of $2,038.67 and a 200 day moving average price of $1,770.04.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, beating analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The company had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same period in the prior year, the company earned $5.16 earnings per share. The firm’s revenue was up 41.5% on a year-over-year basis. As a group, sell-side analysts expect 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.