Whittier Trust Co. of Nevada Inc. Acquires 414 Shares of MercadoLibre, Inc. $MELI

Whittier Trust Co. of Nevada Inc. lifted its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 52.5% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,203 shares of the company’s stock after acquiring an additional 414 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in MercadoLibre were worth $3,144,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in MELI. Key Financial Inc bought a new stake in shares of MercadoLibre in the 1st quarter worth approximately $25,000. GW&K Investment Management LLC bought a new stake in shares of MercadoLibre in the 1st quarter worth approximately $25,000. Close Asset Management Ltd lifted its holdings in shares of MercadoLibre by 366.7% in the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock worth $27,000 after acquiring an additional 11 shares during the last quarter. Brooklyn Investment Group lifted its holdings in shares of MercadoLibre by 650.0% in the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock worth $29,000 after acquiring an additional 13 shares during the last quarter. Finally, Twin Tree Management LP bought a new stake in shares of MercadoLibre in the 1st quarter worth approximately $29,000. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Stock Up 1.9%

Shares of MercadoLibre stock opened at $2,142.05 on Wednesday. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. The company’s fifty day simple moving average is $2,328.33 and its two-hundred day simple moving average is $2,352.79. The company has a market cap of $108.60 billion, a P/E ratio of 52.90, a PEG ratio of 1.42 and a beta of 1.46. 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 earnings per share (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 analysts’ expectations of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The firm’s revenue for the quarter was up 33.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $10.48 earnings per share. Research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on MELI shares. Cantor Fitzgerald boosted their price objective on shares of MercadoLibre from $2,700.00 to $2,900.00 and gave the stock an “overweight” rating in a report on Wednesday, September 24th. Barclays lowered their price target on shares of MercadoLibre from $3,000.00 to $2,800.00 and set an “overweight” rating for the company in a report on Tuesday. Wedbush set a $2,700.00 price target on shares of MercadoLibre and gave the company an “outperform” rating in a report on Tuesday, August 5th. Scotiabank initiated coverage on shares of MercadoLibre in a report on Monday, July 28th. They set a “sector outperform” rating and a $3,500.00 price target for the company. Finally, Citigroup lowered their price target 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, October 9th. One 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’s stock. According to data from MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,799.12.

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.