Jones Financial Companies Lllp grew its stake in MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 25.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,426 shares of the company’s stock after purchasing an additional 2,501 shares during the period. Jones Financial Companies Lllp’s holdings in MercadoLibre were worth $20,815,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in MercadoLibre during the second quarter worth $2,246,015,000. Capital Research Global Investors increased its stake in shares of MercadoLibre by 22.5% in the 4th quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock worth $4,481,812,000 after acquiring an additional 408,939 shares during the last quarter. Norges Bank acquired a new stake in shares of MercadoLibre in the 4th quarter worth $597,045,000. Royal Bank of Canada raised its holdings in shares of MercadoLibre by 114.2% during the 1st quarter. Royal Bank of Canada now owns 444,603 shares of the company’s stock worth $768,728,000 after acquiring an additional 237,008 shares during the period. Finally, Marshall Wace LLP raised its holdings in shares of MercadoLibre by 184.8% during the 4th quarter. Marshall Wace LLP now owns 311,818 shares of the company’s stock worth $628,083,000 after acquiring an additional 202,322 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.
MercadoLibre Price Performance
NASDAQ:MELI opened at $1,947.90 on Tuesday. MercadoLibre, Inc. has a 52 week low of $1,495.00 and a 52 week high of $2,548.50. The stock’s fifty day moving average is $1,799.08 and its two-hundred day moving average is $1,772.26. The company has a market capitalization of $98.75 billion, a P/E ratio of 52.98, a P/E/G ratio of 1.32 and a beta of 1.34. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.53.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on MELI shares. Raymond James Financial set a $2,000.00 price objective on shares of MercadoLibre in a report on Friday, May 8th. Cantor Fitzgerald lifted their target price on shares of MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Daiwa Securities Group lowered shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 target price on the stock. in a report on Friday, May 8th. Morgan Stanley decreased their target price on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of MercadoLibre in a research note on Thursday, July 2nd. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,272.00.
View Our Latest Report on MercadoLibre
MercadoLibre Profile
MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.
Key offerings include its marketplace platform and a suite of logistics and payment services.
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