Ninety One North America Inc. Raises Position in MercadoLibre, Inc. $MELI

Ninety One North America Inc. grew its position in MercadoLibre, Inc. (NASDAQ:MELI) by 21.5% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 6,094 shares of the company’s stock after purchasing an additional 1,080 shares during the quarter. Ninety One North America Inc.’s holdings in MercadoLibre were worth $15,927,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Ninety One UK Ltd raised its holdings in shares of MercadoLibre by 117.0% during the second quarter. Ninety One UK Ltd now owns 1,810 shares of the company’s stock valued at $4,731,000 after purchasing an additional 976 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. raised its holdings in shares of MercadoLibre by 13.5% during the second quarter. Generali Investments CEE investicni spolecnost a.s. now owns 2,520 shares of the company’s stock valued at $6,586,000 after purchasing an additional 300 shares during the last quarter. Bosman Wealth Management LLC raised its holdings in shares of MercadoLibre by 88.5% during the second quarter. Bosman Wealth Management LLC now owns 1,001 shares of the company’s stock valued at $2,616,000 after purchasing an additional 470 shares during the last quarter. Chicago Capital LLC raised its holdings in shares of MercadoLibre by 5.1% during the second quarter. Chicago Capital LLC now owns 3,982 shares of the company’s stock valued at $10,407,000 after purchasing an additional 192 shares during the last quarter. Finally, Capital Investment Advisors LLC raised its holdings in shares of MercadoLibre by 31.0% during the second quarter. Capital Investment Advisors LLC now owns 148 shares of the company’s stock valued at $387,000 after purchasing an additional 35 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MELI has been the subject of several research reports. Daiwa Capital Markets initiated coverage on shares of MercadoLibre in a report on Friday, August 1st. They set a “buy” rating and a $3,000.00 price objective for the company. Jefferies Financial Group reissued a “hold” rating and set a $2,800.00 price objective on shares of MercadoLibre in a report on Tuesday, August 5th. Raymond James Financial reissued a “strong-buy” rating and set a $2,750.00 price objective on shares of MercadoLibre in a report on Tuesday, August 5th. Wall Street Zen cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Sunday, June 22nd. Finally, Citigroup cut their target price on shares of MercadoLibre from $2,900.00 to $2,850.00 and set a “buy” rating for the company in a research report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $2,828.33.

MercadoLibre Stock Performance

Shares of NASDAQ MELI opened at $2,336.94 on Wednesday. The firm has a 50 day moving average of $2,393.33 and a 200 day moving average of $2,340.62. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $118.48 billion, a price-to-earnings ratio of 57.72, a price-to-earnings-growth ratio of 1.63 and a beta of 1.49. MercadoLibre, Inc. has a 12-month low of $1,646.00 and a 12-month high of $2,645.22.

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

About MercadoLibre

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.