MercadoLibre, Inc. $MELI is Atwood & Palmer Inc.’s 6th Largest Position

Atwood & Palmer Inc. grew its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 0.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,044 shares of the company’s stock after buying an additional 36 shares during the quarter. MercadoLibre accounts for about 2.8% of Atwood & Palmer Inc.’s investment portfolio, making the stock its 6th largest holding. Atwood & Palmer Inc.’s holdings in MercadoLibre were worth $44,547,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Jennison Associates LLC boosted its stake in shares of MercadoLibre by 1.6% during the 1st quarter. Jennison Associates LLC now owns 1,154,116 shares of the company’s stock valued at $2,251,531,000 after buying an additional 18,731 shares during the last quarter. Invesco Ltd. lifted its stake in MercadoLibre by 22.4% during the first quarter. Invesco Ltd. now owns 570,967 shares of the company’s stock worth $1,113,881,000 after purchasing an additional 104,554 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in MercadoLibre by 21.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company’s stock worth $1,073,823,000 after purchasing an additional 96,283 shares during the last quarter. Generation Investment Management LLP lifted its stake in MercadoLibre by 3.3% during the first quarter. Generation Investment Management LLP now owns 530,564 shares of the company’s stock worth $1,035,061,000 after purchasing an additional 16,878 shares during the last quarter. Finally, GQG Partners LLC lifted its stake 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 purchasing an additional 87,912 shares during the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $2,339.36 on Monday. MercadoLibre, Inc. has a fifty-two week low of $1,646.00 and a fifty-two week high of $2,645.22. The firm’s 50-day simple moving average is $2,384.98 and its 200 day simple moving average is $2,308.07. 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 stock has a market cap of $118.60 billion, a P/E ratio of 57.78, a P/E/G ratio of 1.52 and a beta of 1.49.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Monday, August 4th. The company reported $10.31 earnings per share for the quarter, missing analysts’ consensus estimates of $12.01 by ($1.70). MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The company had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.57 billion. During the same quarter in the prior year, the firm earned $10.48 earnings per share. MercadoLibre’s revenue for the quarter was up 33.8% compared to the same quarter last year. Equities analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Wall Street Analysts Forecast Growth

MELI has been the topic of several research analyst reports. Benchmark restated a “buy” rating and set a $2,875.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. Susquehanna reiterated a “positive” rating and issued a $2,975.00 target price (up from $2,840.00) on shares of MercadoLibre in a research note on Thursday, June 26th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $2,700.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. Daiwa Capital Markets began coverage on MercadoLibre in a research note on Friday, August 1st. They issued a “buy” rating and a $3,000.00 target price on the stock. Finally, Wall Street Zen cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Sunday, June 22nd. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $2,817.22.

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.