TrinityBridge Ltd raised its position in shares of MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 19.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,327 shares of the company’s stock after buying an additional 703 shares during the quarter. TrinityBridge Ltd’s holdings in MercadoLibre were worth $7,482,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of MELI. Wedbush Fund Advisers LLC acquired a new position in shares of MercadoLibre in the second quarter worth about $29,000. Twin Lakes Capital Management LLC acquired a new stake in shares of MercadoLibre during the second quarter valued at approximately $31,000. NBT Bank N.A. acquired a new stake in shares of MercadoLibre during the third quarter valued at approximately $35,000. Markowski Investments acquired a new stake in shares of MercadoLibre during the second quarter valued at approximately $36,000. Finally, Byrne Asset Management LLC purchased a new stake in shares of MercadoLibre in the 3rd quarter valued at approximately $40,000. 87.62% of the stock is owned by hedge funds and other institutional investors.
MercadoLibre Price Performance
NASDAQ MELI opened at $1,660.10 on Wednesday. The company has a 50 day simple moving average of $1,829.97 and a 200-day simple moving average of $1,811.70. 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 firm has a market capitalization of $84.17 billion, a price-to-earnings ratio of 45.15, a price-to-earnings-growth ratio of 1.18 and a beta of 1.42. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,372.79.
MercadoLibre (NASDAQ:MELI – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $9.19 EPS for the quarter, topping the consensus estimate of $8.65 by $0.54. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The business had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.79 billion. During the same period last year, the company posted $10.31 earnings per share. The firm’s quarterly revenue was up 49.8% compared to the same quarter last year. Equities research analysts predict that MercadoLibre, Inc. will post 38.09 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of research firms recently commented on MELI. Citigroup raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $2,100.00 to $2,050.00 in a research note on Tuesday, October 27th. JPMorgan Chase & Co. boosted their target price on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. Susquehanna increased their target price on MercadoLibre to $2,400.00 and gave the company a “positive” rating in a report on Tuesday, October 6th. New Street Research began coverage on MercadoLibre in a report on Wednesday, September 23rd. They issued a “buy” rating and a $2,450.00 target price for the company. Finally, BTIG Research reaffirmed a “buy” rating and issued a $2,150.00 target price on shares of MercadoLibre in a research report on Tuesday, October 27th. Thirteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, MercadoLibre currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,248.75.
Read Our Latest Stock Analysis on MELI
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 initially developed an online marketplace and has expanded into a broad platform connecting buyers and sellers with businesses and consumers.
Its commerce operations include the MercadoLibre marketplace, where users can purchase and sell products across numerous categories. The company also offers supporting services such as Mercado Envíos for shipping and logistics, Mercado Ads for digital advertising, and tools for merchants to manage their online businesses.
MercadoLibre’s financial technology business is centered on Mercado Pago, which provides digital payment processing, online checkout, money transfer and account services.
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