Summitry LLC Increases Position in MercadoLibre, Inc. $MELI

Summitry LLC raised its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 19.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 192 shares of the company’s stock after purchasing an additional 31 shares during the period. Summitry LLC’s holdings in MercadoLibre were worth $502,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MELI. GW&K Investment Management LLC bought a new stake in MercadoLibre in the 1st quarter worth approximately $25,000. Close Asset Management Ltd raised its stake in shares of MercadoLibre by 366.7% during the first quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock worth $27,000 after acquiring an additional 11 shares in the last quarter. Brooklyn Investment Group lifted its holdings in shares of MercadoLibre by 650.0% in the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock worth $29,000 after acquiring an additional 13 shares during the last quarter. Twin Tree Management LP purchased a new stake in shares of MercadoLibre in the 1st quarter valued at $29,000. Finally, Saudi Central Bank bought a new position in shares of MercadoLibre during the 1st quarter valued at $35,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $2,048.89 on Friday. 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 firm’s fifty day simple moving average is $2,256.65 and its 200 day simple moving average is $2,372.71. The stock has a market cap of $103.87 billion, a P/E ratio of 50.00, a price-to-earnings-growth ratio of 1.56 and a beta of 1.51. MercadoLibre, Inc. has a twelve month low of $1,646.00 and a twelve month high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $8.32 EPS for the quarter, missing the consensus estimate of $9.88 by ($1.56). The company had revenue of $7.41 billion during the quarter, compared to the consensus estimate of $7.19 billion. MercadoLibre had a return on equity of 41.35% and a net margin of 7.93%.The firm’s revenue for the quarter was up 39.5% compared to the same quarter last year. During the same quarter last year, the company posted $7.83 earnings per share. As a group, research analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MELI. Jefferies Financial Group restated a “hold” rating and set a $2,800.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. Scotiabank began coverage on MercadoLibre in a report on Monday, July 28th. They set a “sector outperform” rating and a $3,500.00 target price for the company. Susquehanna decreased their price target on MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a research note on Monday, October 13th. Morgan Stanley boosted their price objective on MercadoLibre from $2,850.00 to $2,950.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Finally, Benchmark cut their target price on shares of MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. One research 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 MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $2,854.71.

MercadoLibre Company 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.