Equitable Holdings Inc. Buys New Shares in MercadoLibre, Inc. $MELI

Equitable Holdings Inc. bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI – Free Report) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 1,109 shares of the company’s stock, valued at approximately $1,883,000.

A number of other large investors have also bought and sold shares of the stock. Capital Research Global Investors raised its stake in MercadoLibre by 22.5% during the 4th quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock worth $4,481,812,000 after buying an additional 408,939 shares during the period. Capital International Investors lifted its holdings in shares of MercadoLibre by 7.3% in the 4th quarter. Capital International Investors now owns 1,725,125 shares of the company’s stock worth $3,474,880,000 after purchasing an additional 118,018 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in 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 purchasing an additional 137,100 shares during the period. BlackRock Inc. acquired a new stake in MercadoLibre in the 2nd quarter valued at $2,246,015,000. Finally, Janus Henderson Group PLC increased its stake in MercadoLibre by 1.7% during the 1st quarter. Janus Henderson Group PLC now owns 614,238 shares of the company’s stock valued at $1,062,019,000 after purchasing an additional 10,142 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Get MercadoLibre alerts:

MercadoLibre Stock Up 1.8%

MELI opened at $1,966.25 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.53. The stock has a market cap of $99.69 billion, a price-to-earnings ratio of 53.47, a PEG ratio of 1.32 and a beta of 1.34. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,548.50. The company’s 50-day moving average price is $1,824.45 and its two-hundred day moving average price is $1,772.36.

MercadoLibre (NASDAQ:MELI – Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.65 by $0.54. The company had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. MercadoLibre’s quarterly revenue was up 49.8% compared to the same quarter last year. During the same quarter last year, the business posted $10.31 EPS. As a group, equities analysts expect that MercadoLibre, Inc. will post 39.11 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on MELI. Morgan Stanley dropped their price objective on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. The Goldman Sachs Group set a $2,100.00 target price on shares of MercadoLibre in a report on Wednesday, May 13th. BTIG Research reaffirmed a “buy” rating and issued a $2,150.00 price target on shares of MercadoLibre in a research report on Thursday, August 6th. UBS Group dropped their price target on shares of 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, JPMorgan Chase & Co. boosted their price objective on MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Eleven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $2,272.00.

Get Our Latest Research Report on MercadoLibre

MercadoLibre Company Profile

(Free Report)

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.

Featured Stories

• Five stocks we like better than MercadoLibre
• 3 Financial Stocks Positioned for the Fed’s Next Move After Jackson Hole
• IREN’s AI Pivot Looks Real, But the Market Wanted a Faster Payoff After Earnings
• Boeing’s $131B F-15 Win: Mach 1 Momentum or Just Altitude?
• Okta Stock Surges 29%—Is $200 the Next Stop?

Want to see what other hedge funds are holding MELI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MercadoLibre, Inc. (NASDAQ:MELI – Free Report).

Receive News & Ratings for MercadoLibre Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MercadoLibre and related companies with MarketBeat.com's FREE daily email newsletter.