Bank Pictet & Cie Europe AG grew its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 30.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,175 shares of the company’s stock after purchasing an additional 2,157 shares during the period. Bank Pictet & Cie Europe AG’s holdings in MercadoLibre were worth $15,859,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of MELI. Total Clarity Wealth Management Inc. increased its stake in MercadoLibre by 5.2% in the 1st quarter. Total Clarity Wealth Management Inc. now owns 122 shares of the company’s stock worth $211,000 after purchasing an additional 6 shares in the last quarter. Y.D. More Investments Ltd raised its holdings in MercadoLibre by 24.0% during the 1st quarter. Y.D. More Investments Ltd now owns 31 shares of the company’s stock worth $53,000 after buying an additional 6 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in MercadoLibre by 2.9% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 212 shares of the company’s stock valued at $367,000 after buying an additional 6 shares in the last quarter. Moody National Bank Trust Division lifted its stake in MercadoLibre by 0.8% during the second quarter. Moody National Bank Trust Division now owns 733 shares of the company’s stock valued at $1,244,000 after buying an additional 6 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC lifted its stake in MercadoLibre by 0.5% during the second quarter. Dynamic Advisor Solutions LLC now owns 1,227 shares of the company’s stock valued at $2,083,000 after buying an additional 6 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.
MercadoLibre Stock Up 1.2%
Shares of MELI stock traded up $22.15 on Tuesday, reaching $1,861.87. 150,423 shares of the company’s stock traded hands, compared to its average volume of 533,505. The company has a market capitalization of $94.40 billion, a P/E ratio of 50.66, a price-to-earnings-growth ratio of 1.29 and a beta of 1.31. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,428.00. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12. The business’s 50 day moving average price is $1,863.45 and its two-hundred day moving average price is $1,785.68.
MercadoLibre (NASDAQ:MELI – Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $9.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.65 by $0.54. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%. The firm had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.79 billion. During the same period in the prior year, the business earned $10.31 EPS. The business’s revenue for the quarter was up 49.8% on a year-over-year basis. On average, equities analysts forecast that MercadoLibre, Inc. will post 38.09 earnings per share for the current year.
Analysts Set New Price Targets
Several research analysts have commented on the stock. New Street Research started coverage on shares of MercadoLibre in a report on Wednesday, September 23rd. They issued a “buy” rating and a $2,450.00 target price for the company. Cantor Fitzgerald cut their price target on shares of MercadoLibre from $2,300.00 to $2,200.00 and set an “overweight” rating on the stock in a report on Monday, October 12th. Zacks Research upgraded shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Weiss Ratings restated a “hold (c)” rating on shares of MercadoLibre in a research report on Tuesday, September 29th. Finally, Susquehanna raised their price objective on shares of MercadoLibre to $2,400.00 and gave the stock a “positive” rating in a research note on Tuesday, October 6th. Twelve equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $2,251.88.
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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