First Mercantile Trust Co Lowers stake in Mercadolibre Inc (MELI)

Mercadolibre Inc (MELI) : First Mercantile Trust Co reduced its stake in Mercadolibre Inc by 19.61% during the most recent quarter end. The investment management company now holds a total of 8,200 shares of Mercadolibre Inc which is valued at $1,556,606 after selling 2,000 shares in Mercadolibre Inc , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Mercadolibre Inc makes up approximately 0.21% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Simplex Trading reduced its stake in MELI by selling 928 shares or 58.96% in the most recent quarter. The Hedge Fund company now holds 646 shares of MELI which is valued at $122,630. Mercadolibre Inc makes up approx 0.02% of Simplex Trading’s portfolio.Telemus Capital reduced its stake in MELI by selling 397 shares or 25.88% in the most recent quarter. The Hedge Fund company now holds 1,137 shares of MELI which is valued at $212,039. Mercadolibre Inc makes up approx 0.02% of Telemus Capital’s portfolio.Eqis Capital Management boosted its stake in MELI in the latest quarter, The investment management firm added 650 additional shares and now holds a total of 4,273 shares of Mercadolibre Inc which is valued at $796,872. Mercadolibre Inc makes up approx 0.05% of Eqis Capital Management’s portfolio.

Mercadolibre Inc opened for trading at $187.08 and hit $190.22 on the upside on Friday, eventually ending the session at $189.83, with a gain of 1.90% or 3.54 points. The heightened volatility saw the trading volume jump to 3,18,720 shares. Company has a market cap of $8,382 M.

On the company’s financial health, Mercadolibre Inc reported $0.74 EPS for the quarter, beating the analyst consensus estimate by $ 0.14 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.60. The company had revenue of $199.64 million for the quarter, compared to analysts expectations of $180.94 million. The company’s revenue was up 29.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS.

Many Wall Street Analysts have commented on Mercadolibre Inc. Mercadolibre Inc was Upgraded by JP Morgan to ” Overweight” on Sep 2, 2016. Goldman Initiated Mercadolibre Inc on Aug 9, 2016 to “Neutral”, Price Target of the shares are set at $170.Company shares were Reiterated by Piper Jaffray on Aug 5, 2016 to “Overweight”, Firm has raised the Price Target to $ 185 from a previous price target of $160 .

MercadoLibre Inc. hosts an online commerce platform in Latin America which is focused on enabling e-commerce and its related services. The Company provides a portfolio of services facilitating e-commerce transactions in Argentina Brazil Chile Colombia Costa Rica Ecuador Mexico Peru Uruguay and Venezuela. The Company also operates online commerce platforms in the Dominican Republic Panama and Portugal. The Company offers its users an eco-system of six related e-commerce services: the MercadoLibre Marketplace The MercadoLibre Classifieds Service the MercadoPago payments solution the MercadoLibre Advertising program the MercadoShops online stores solution and the Mercado Envios shipping service. The Company also operates a real estate classified platform that covers some areas of State of Florida in the United States.

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