IPG Investment Advisors LLC increased its position in MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 265.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,055 shares of the company’s stock after purchasing an additional 766 shares during the quarter. IPG Investment Advisors LLC’s holdings in MercadoLibre were worth $1,791,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the business. California State Teachers Retirement System lifted its stake in shares of MercadoLibre by 176,119.7% in the 2nd quarter. California State Teachers Retirement System now owns 119,862,892 shares of the company’s stock valued at $203,454,074,000 after purchasing an additional 119,794,873 shares during the period. BlackRock Inc. acquired a new position in MercadoLibre during the second quarter valued at approximately $2,246,015,000. Jupiter Topco LLC acquired a new position in MercadoLibre during the second quarter valued at approximately $917,123,000. Linonia Partnership LP raised its holdings in MercadoLibre by 325.1% in the second quarter. Linonia Partnership LP now owns 553,788 shares of the company’s stock worth $939,994,000 after purchasing an additional 423,527 shares during the period. Finally, Capital Research Global Investors raised its holdings in MercadoLibre by 22.5% in the fourth quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock worth $4,481,812,000 after purchasing an additional 408,939 shares during the period. Institutional investors own 87.62% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. Citigroup lifted their target price on MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. BTIG Research reissued a “buy” rating and issued a $2,150.00 target price on shares of MercadoLibre in a research note on Thursday, September 3rd. UBS Group dropped their price target on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of MercadoLibre in a report on Thursday, July 2nd. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $2,272.00.
MercadoLibre Stock Down 2.6%
MELI stock opened at $1,876.33 on Thursday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10. The stock has a market capitalization of $95.13 billion, a P/E ratio of 51.03, a P/E/G ratio of 1.32 and a beta of 1.31. The business has a 50-day moving average of $1,872.60 and a 200-day moving average of $1,768.04. MercadoLibre, Inc. has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,548.50.
MercadoLibre (NASDAQ:MELI – Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $9.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.65 by $0.54. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The business had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same quarter last year, the firm earned $10.31 EPS. MercadoLibre’s revenue for the quarter was up 49.8% compared to the same quarter last year. On average, sell-side analysts anticipate that MercadoLibre, Inc. will post 39.11 earnings per share for the current fiscal year.
MercadoLibre Profile
MercadoLibre, Inc is a technology company that operates an online commerce and financial services ecosystem across Latin America. Founded in 1999 by Marcos Galperin, the company began as an online marketplace and has expanded into a broad platform serving consumers, merchants and businesses.
Its marketplace enables users to buy and sell products across categories, while Mercado Pago provides digital payments, online checkout, money transfers and other financial services. The company also offers Mercado Envíos logistics and fulfillment services, Mercado Ads advertising solutions, and credit products through Mercado Crédito.
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