IFM Investors Pty Ltd Has $16.74 Million Position in MercadoLibre, Inc. $MELI

IFM Investors Pty Ltd reduced its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1.4% in the 1st quarter, Holdings Channel reports. The institutional investor owned 8,581 shares of the company’s stock after selling 123 shares during the quarter. IFM Investors Pty Ltd’s holdings in MercadoLibre were worth $16,740,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Key Financial Inc acquired a new position in MercadoLibre during the first quarter valued at approximately $25,000. GW&K Investment Management LLC acquired a new position in MercadoLibre during the first quarter valued at approximately $25,000. Close Asset Management Ltd increased its stake in shares of MercadoLibre by 366.7% during the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock worth $27,000 after purchasing an additional 11 shares during the last quarter. Park Square Financial Group LLC acquired a new position in shares of MercadoLibre during the 4th quarter worth about $26,000. Finally, Brooklyn Investment Group increased its stake in shares of MercadoLibre by 650.0% during the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock worth $29,000 after purchasing an additional 13 shares during the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $2,373.01 on Wednesday. The stock has a market capitalization of $120.31 billion, a PE ratio of 58.61, a P/E/G ratio of 1.53 and a beta of 1.49. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. The business has a fifty day moving average price of $2,394.17 and a two-hundred day moving average price of $2,303.80. MercadoLibre, Inc. has a fifty-two week low of $1,646.00 and a fifty-two week high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Monday, August 4th. The company reported $10.31 earnings per share for the quarter, missing the consensus estimate of $12.01 by ($1.70). The company had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. MercadoLibre’s revenue was up 33.8% on a year-over-year basis. During the same period in the prior year, the firm earned $10.48 earnings per share. As a group, equities analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

MELI has been the topic of several recent analyst reports. Scotiabank started coverage on shares of MercadoLibre in a research note on Monday, July 28th. They set a “sector outperform” rating and a $3,500.00 price objective on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $2,700.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 5th. Daiwa Capital Markets started coverage on MercadoLibre in a research report on Friday, August 1st. They issued a “buy” rating and a $3,000.00 price objective for the company. Citigroup cut their price objective on MercadoLibre from $2,900.00 to $2,850.00 and set a “buy” rating for the company in a research report on Monday, August 18th. Finally, Wedbush set a $2,700.00 price objective on MercadoLibre and gave the company an “outperform” rating in a research report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $2,817.22.

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.