LRI Investments LLC Boosts Stock Position in MercadoLibre, Inc. $MELI

LRI Investments LLC boosted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 3.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 586 shares of the company’s stock after purchasing an additional 19 shares during the quarter. LRI Investments LLC’s holdings in MercadoLibre were worth $1,531,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Jennison Associates LLC increased its holdings in shares of MercadoLibre by 1.6% in the 1st quarter. Jennison Associates LLC now owns 1,154,116 shares of the company’s stock valued at $2,251,531,000 after acquiring an additional 18,731 shares during the last quarter. Invesco Ltd. boosted its holdings in MercadoLibre by 22.4% in the first quarter. Invesco Ltd. now owns 570,967 shares of the company’s stock worth $1,113,881,000 after purchasing an additional 104,554 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in MercadoLibre by 21.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company’s stock worth $1,073,823,000 after purchasing an additional 96,283 shares during the period. Generation Investment Management LLP boosted its holdings in MercadoLibre by 3.3% in the first quarter. Generation Investment Management LLP now owns 530,564 shares of the company’s stock worth $1,035,061,000 after purchasing an additional 16,878 shares during the period. Finally, GQG Partners LLC boosted its holdings in MercadoLibre by 23.5% in the first quarter. GQG Partners LLC now owns 461,875 shares of the company’s stock worth $901,058,000 after purchasing an additional 87,912 shares during the period. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Price Performance

Shares of MELI opened at $2,133.67 on Friday. The company has a market cap of $108.17 billion, a P/E ratio of 52.70, a PEG ratio of 1.43 and a beta of 1.46. The stock has a fifty day moving average price of $2,363.50 and a 200 day moving average price of $2,346.09. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing analysts’ consensus estimates of $12.01 by ($1.70). The company had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.MercadoLibre’s quarterly revenue was up 33.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $10.48 earnings per share. On average, research analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. decreased their price objective on shares of MercadoLibre from $2,700.00 to $2,600.00 and set a “neutral” rating for the company in a report on Friday, October 3rd. Citigroup decreased their price objective on shares of MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating for the company in a report on Thursday. Daiwa Capital Markets assumed coverage on shares of MercadoLibre in a report on Friday, August 1st. They issued a “buy” rating and a $3,000.00 price objective for the company. Wedbush set a $2,700.00 price objective on shares of MercadoLibre and gave the stock an “outperform” rating in a report on Tuesday, August 5th. Finally, Benchmark reaffirmed a “buy” rating and issued a $2,875.00 price objective on shares of MercadoLibre in a report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average target price of $2,815.29.

MercadoLibre Company Profile

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.