Mercadolibre INC (MELI) Stock Rose While Global X Management Co LLC Has Trimmed by $3.20 Million Its Stake

March 19, 2018 - By Nellie Frank

Investors sentiment decreased to 1.16 in 2017 Q3. Its down 0.21, from 1.37 in 2017Q2. It worsened, as 42 investors sold MELI shares while 92 reduced holdings. 46 funds opened positions while 109 raised stakes. 35.73 million shares or 0.12% less from 35.78 million shares in 2017Q2 were reported. Magnetar Fincl Ltd Co holds 0.01% of its portfolio in MercadoLibre, Inc. (NASDAQ:MELI) for 1,917 shares. St Johns Management Co Limited Co holds 0.01% or 78 shares. First Mercantile Trust accumulated 5,100 shares. 3,534 were reported by State Board Of Administration Of Florida Retirement. Hanseatic Mgmt Serv Inc invested in 0.01% or 32 shares. Bbva Compass Comml Bank holds 0.04% in MercadoLibre, Inc. (NASDAQ:MELI) or 2,092 shares. National Bank Of Nova Scotia accumulated 0.03% or 20,300 shares. Reliance Com Of Delaware invested 0.03% of its portfolio in MercadoLibre, Inc. (NASDAQ:MELI). Oregon Public Employees Retirement Fund holds 14,271 shares. Barclays Public Limited Co reported 0% in MercadoLibre, Inc. (NASDAQ:MELI). Janney Montgomery Scott Ltd Company invested in 854 shares. L And S Incorporated invested in 3,255 shares. Tiaa Cref Investment Ltd Liability owns 7,101 shares or 0% of their US portfolio. Silvercrest Asset holds 0.02% of its portfolio in MercadoLibre, Inc. (NASDAQ:MELI) for 8,049 shares. State Of Alaska Department Of Revenue, a Alaska-based fund reported 1,440 shares.

Global X Management Co Llc decreased its stake in Mercadolibre Inc (MELI) by 8.75% based on its latest 2017Q3 regulatory filing with the SEC. Global X Management Co Llc sold 12,417 shares as the company’s stock rose 37.36% with the market. The institutional investor held 129,565 shares of the miscellaneous company at the end of 2017Q3, valued at $33.55M, down from 141,982 at the end of the previous reported quarter. Global X Management Co Llc who had been investing in Mercadolibre Inc for a number of months, seems to be less bullish one the $16.71 billion market cap company. The stock decreased 2.24% or $8.67 during the last trading session, reaching $378.44. About 717,343 shares traded or 11.04% up from the average. MercadoLibre, Inc. (NASDAQ:MELI) has risen 106.82% since March 19, 2017 and is uptrending. It has outperformed by 90.12% the S&P500.

Global X Management Co Llc, which manages about $3.30B and $3.68 billion US Long portfolio, upped its stake in Cameco Corp (NYSE:CCJ) by 1.18 million shares to 6.77 million shares, valued at $65.26M in 2017Q3, according to the filing. It also increased its holding in Mobileye N V Amstelveen (NYSE:MBLY) by 123,828 shares in the quarter, for a total of 314,066 shares, and has risen its stake in Enterprise Prods Partners L (NYSE:EPD).

Analysts await MercadoLibre, Inc. (NASDAQ:MELI) to report earnings on May, 3. They expect $0.44 EPS, down 60.00 % or $0.66 from last year’s $1.1 per share. MELI’s profit will be $19.43 million for 215.02 P/E if the $0.44 EPS becomes a reality. After $0.20 actual EPS reported by MercadoLibre, Inc. for the previous quarter, Wall Street now forecasts 120.00 % EPS growth.

MercadoLibre, Inc. (NASDAQ:MELI) Ratings Coverage

Among 15 analysts covering MercadoLibre (NASDAQ:MELI), 6 have Buy rating, 2 Sell and 7 Hold. Therefore 40% are positive. MercadoLibre has $500.0 highest and $120 lowest target. $327.58’s average target is -13.44% below currents $378.44 stock price. MercadoLibre had 43 analyst reports since August 6, 2015 according to SRatingsIntel. Morgan Stanley reinitiated the shares of MELI in report on Friday, October 28 with “Underweight” rating. The stock has “Neutral” rating by JP Morgan on Tuesday, May 16. The stock of MercadoLibre, Inc. (NASDAQ:MELI) has “Market Perform” rating given on Monday, April 25 by Cowen & Co. The stock of MercadoLibre, Inc. (NASDAQ:MELI) has “Neutral” rating given on Monday, December 5 by Susquehanna. On Wednesday, February 28 the stock rating was upgraded by J.P. Morgan to “Buy”. The rating was upgraded by JP Morgan on Wednesday, February 28 to “Overweight”. JP Morgan maintained the stock with “Neutral” rating in Monday, March 14 report. The rating was maintained by Stifel Nicolaus on Friday, February 23 with “Buy”. The stock of MercadoLibre, Inc. (NASDAQ:MELI) earned “Buy” rating by Goldman Sachs on Wednesday, December 7. The firm has “Sell” rating given on Wednesday, December 20 by Citigroup.

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