RWC Asset Advisors US LLC bought a new position in MercadoLibre, Inc. (NASDAQ:MELI – Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 10,406 shares of the company’s stock, valued at approximately $17,987,000. MercadoLibre makes up approximately 4.8% of RWC Asset Advisors US LLC’s portfolio, making the stock its 9th largest holding.
A number of other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in MercadoLibre in the second quarter worth $2,246,015,000. Janus Henderson Group PLC increased its holdings in shares of MercadoLibre by 1.7% during the first quarter. Janus Henderson Group PLC now owns 614,238 shares of the company’s stock valued at $1,062,019,000 after acquiring an additional 10,142 shares in the last quarter. Linonia Partnership LP increased its holdings in shares of MercadoLibre by 325.1% during the second quarter. Linonia Partnership LP now owns 553,788 shares of the company’s stock valued at $939,994,000 after acquiring an additional 423,527 shares in the last quarter. Jupiter Topco LLC bought a new position in MercadoLibre in the 2nd quarter worth about $917,123,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in MercadoLibre by 7.9% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 533,816 shares of the company’s stock valued at $906,094,000 after purchasing an additional 38,871 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on the stock. Susquehanna raised their price target on shares of MercadoLibre to $2,400.00 and gave the company a “positive” rating in a research report on Tuesday, October 6th. Cantor Fitzgerald lowered their price objective on MercadoLibre from $2,300.00 to $2,200.00 and set an “overweight” rating on the stock in a research report on Monday, October 12th. New Street Research assumed coverage on MercadoLibre in a research note on Wednesday, September 23rd. They set a “buy” rating and a $2,450.00 target price on the stock. JPMorgan Chase & Co. increased their target price on MercadoLibre from $1,900.00 to $2,150.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. Finally, BTIG Research reissued a “buy” rating and issued a $2,150.00 target price on shares of MercadoLibre in a report on Thursday, September 3rd. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, MercadoLibre presently has an average rating of “Moderate Buy” and a consensus target price of $2,251.88.
View Our Latest Analysis on MercadoLibre
MercadoLibre Stock Performance
NASDAQ:MELI traded down $14.80 during trading hours on Friday, reaching $1,810.15. The company had a trading volume of 382,489 shares, compared to its average volume of 482,945. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. MercadoLibre, Inc. has a 52 week low of $1,495.00 and a 52 week high of $2,428.00. The firm has a market cap of $91.77 billion, a price-to-earnings ratio of 49.23, a PEG ratio of 1.28 and a beta of 1.31. The firm’s 50 day moving average price is $1,862.02 and its 200-day moving average price is $1,788.72.
MercadoLibre (NASDAQ:MELI – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $9.19 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $9.79 billion. During the same period in the prior year, the firm earned $10.31 EPS. The company’s revenue was up 49.8% compared to the same quarter last year. On average, analysts forecast that MercadoLibre, Inc. will post 38.09 EPS for the current year.
MercadoLibre Company 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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