Mutual Advisors LLC Has $2.50 Million Stake in MercadoLibre, Inc. $MELI

Mutual Advisors LLC grew its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 9.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 956 shares of the company’s stock after purchasing an additional 82 shares during the period. Mutual Advisors LLC’s holdings in MercadoLibre were worth $2,499,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Jennison Associates LLC increased its holdings in MercadoLibre by 1.6% in the first quarter. Jennison Associates LLC now owns 1,154,116 shares of the company’s stock worth $2,251,531,000 after buying an additional 18,731 shares during the last quarter. Invesco Ltd. increased 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 buying an additional 104,554 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in MercadoLibre by 21.2% during 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 position in MercadoLibre by 3.3% during 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 position in MercadoLibre by 23.5% during 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. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on MELI. Scotiabank began coverage on MercadoLibre in a research report on Monday, July 28th. They set a “sector outperform” rating and a $3,500.00 target price for the company. Benchmark reaffirmed a “buy” rating and set a $2,875.00 target price on shares of MercadoLibre in a research report on Tuesday, August 5th. Daiwa Capital Markets began coverage on MercadoLibre in a research report on Friday, August 1st. They set a “buy” rating and a $3,000.00 target price for the company. Jefferies Financial Group reaffirmed a “hold” rating and set a $2,800.00 target price on shares of MercadoLibre in a research report on Tuesday, August 5th. Finally, Citigroup decreased their target price on MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating for the company in a research report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $2,810.88.

MercadoLibre Stock Down 0.3%

MELI opened at $2,043.06 on Friday. MercadoLibre, Inc. has a 1-year low of $1,646.00 and a 1-year high of $2,645.22. 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 stock has a market capitalization of $103.58 billion, a price-to-earnings ratio of 50.46, a P/E/G ratio of 1.38 and a beta of 1.46. The business has a 50 day moving average of $2,342.88 and a 200-day moving average of $2,345.99.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Monday, August 4th. The company reported $10.31 earnings per share for the quarter, missing the consensus estimate of $12.01 by ($1.70). MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The business had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.57 billion. During the same period in the prior year, the company posted $10.48 earnings per share. The firm’s revenue was up 33.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

MercadoLibre 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.