WNY Asset Management LLC purchased a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 888 shares of the company’s stock, valued at approximately $1,507,000.
A number of other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new position in MercadoLibre in the 2nd quarter valued at about $2,246,015,000. Jupiter Topco LLC purchased a new position in shares of MercadoLibre in the second quarter valued at approximately $917,123,000. Linonia Partnership LP grew its holdings in shares of MercadoLibre by 325.1% in the second quarter. Linonia Partnership LP now owns 553,788 shares of the company’s stock valued at $939,994,000 after purchasing an additional 423,527 shares in the last quarter. Capital Research Global Investors increased its stake in MercadoLibre by 22.5% during the 4th quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock worth $4,481,812,000 after buying an additional 408,939 shares during the period. Finally, Norges Bank acquired a new stake in MercadoLibre during the 4th quarter worth approximately $597,045,000. 87.62% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several brokerages have commented on MELI. Barclays decreased their price target on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. Morgan Stanley reduced their price objective on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. Citigroup lifted their target price on MercadoLibre from $1,950.00 to $2,000.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Zacks Research upgraded MercadoLibre from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Finally, JPMorgan Chase & Co. increased their price target on MercadoLibre from $1,900.00 to $2,150.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,272.00.
MercadoLibre Price Performance
Shares of MELI opened at $1,930.75 on Friday. The firm has a market capitalization of $97.88 billion, a price-to-earnings ratio of 52.51, a PEG ratio of 1.34 and a beta of 1.34. The firm’s fifty day simple moving average is $1,817.82 and its 200-day simple moving average is $1,771.00. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,548.50. 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 (NASDAQ:MELI – Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $9.19 EPS for the quarter, topping analysts’ consensus estimates of $8.65 by $0.54. The firm had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The company’s revenue was up 49.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $10.31 earnings per share. Equities analysts forecast that MercadoLibre, Inc. will post 39.11 EPS for the current fiscal year.
MercadoLibre Profile
MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.
Key offerings include its marketplace platform and a suite of logistics and payment services.
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