Global Retirement Partners LLC bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI – Free Report) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 338 shares of the company’s stock, valued at approximately $574,000.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Capital Research Global Investors increased 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 valued at $4,481,812,000 after purchasing an additional 408,939 shares during the period. Norges Bank acquired a new position in MercadoLibre during the 4th quarter worth about $597,045,000. Royal Bank of Canada lifted its holdings in 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 buying an additional 237,008 shares during the period. Marshall Wace LLP grew its position in shares of MercadoLibre by 184.8% in the 4th quarter. Marshall Wace LLP now owns 311,818 shares of the company’s stock valued at $628,083,000 after buying an additional 202,322 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of MercadoLibre by 9.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company’s stock valued at $3,188,718,000 after buying an additional 137,100 shares during the last quarter. 87.62% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on the stock. Morgan Stanley decreased their target price on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. Barclays dropped their price target on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. UBS Group reduced their price objective on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. The Goldman Sachs Group set a $2,100.00 price objective on shares of MercadoLibre in a research report on Wednesday, May 13th. Finally, Raymond James Financial set a $2,000.00 target price on shares of MercadoLibre in a report on Friday, May 8th. Eleven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $2,272.00.
MercadoLibre Price Performance
MercadoLibre stock opened at $1,779.14 on Wednesday. The stock has a market capitalization of $90.20 billion, a price-to-earnings ratio of 48.39, a PEG ratio of 1.26 and a beta of 1.34. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,548.50. The stock’s 50 day moving average price is $1,773.74 and its two-hundred day moving average price is $1,778.68. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12.
MercadoLibre (NASDAQ:MELI – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $9.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.65 by $0.54. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The company had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.79 billion. During the same quarter in the prior year, the firm earned $10.31 EPS. The business’s revenue was up 49.8% on a year-over-year basis. On average, equities analysts predict that MercadoLibre, Inc. will post 39.11 earnings per share for the current year.
Insider Activity at MercadoLibre
In other news, Director Alejandro Nicolas Aguzin bought 600 shares of the stock in a transaction dated Friday, May 22nd. The shares were bought at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the transaction, the director directly owned 5,355 shares of the company’s stock, valued at $8,867,505.15. This trade represents a 12.62% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.26% of the stock is currently owned by corporate insiders.
MercadoLibre Company 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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