Freemont Management S.A. Buys New Holdings in MercadoLibre, Inc. $MELI

Freemont Management S.A. bought a new stake in MercadoLibre, Inc. (NASDAQ:MELI) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,600 shares of the company’s stock, valued at approximately $4,182,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Jennison Associates LLC increased its holdings in shares of MercadoLibre by 7.0% during the second quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock valued at $3,228,460,000 after acquiring an additional 81,124 shares in the last quarter. Invesco Ltd. grew its position in MercadoLibre by 22.4% in the 1st quarter. Invesco Ltd. now owns 570,967 shares of the company’s stock valued at $1,113,881,000 after purchasing an additional 104,554 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in MercadoLibre by 21.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company’s stock valued at $1,073,823,000 after purchasing an additional 96,283 shares in the last quarter. Generation Investment Management LLP increased its stake in MercadoLibre by 3.3% during the 1st quarter. Generation Investment Management LLP now owns 530,564 shares of the company’s stock valued at $1,035,061,000 after purchasing an additional 16,878 shares in the last quarter. Finally, GQG Partners LLC raised its holdings 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 buying an additional 87,912 shares during the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Stock Performance

MELI stock opened at $2,108.60 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. The firm has a market cap of $106.90 billion, a PE ratio of 51.45, a P/E/G ratio of 1.56 and a beta of 1.51. The business has a 50 day moving average of $2,290.36 and a 200-day moving average of $2,375.77. 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 results on Wednesday, October 29th. The company reported $8.32 EPS for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). The business had revenue of $7.41 billion for the quarter, compared to the consensus estimate of $7.19 billion. MercadoLibre had a return on equity of 41.35% and a net margin of 7.93%.The business’s revenue was up 39.5% compared to the same quarter last year. During the same quarter last year, the business posted $7.83 earnings per share. As a group, sell-side analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. 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 objective for the company. Citigroup dropped their price target on shares of MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating on the stock in a research report on Thursday, October 9th. Susquehanna decreased their price objective on MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating for the company in a report on Monday, October 13th. Cantor Fitzgerald dropped their target price on MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. Finally, Daiwa Capital Markets started coverage on MercadoLibre in a research report on Friday, August 1st. They set a “buy” rating and a $3,000.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $2,861.25.

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.