649 MercadoLibre, Inc. $MELI Shares Purchased by Stableford Capital II LLC

Stableford Capital II LLC boosted its position in MercadoLibre, Inc. (NASDAQ:MELI) by 34.0% during the third quarter, Holdings Channel.com reports. The fund owned 2,556 shares of the company’s stock after acquiring an additional 649 shares during the period. MercadoLibre accounts for 1.5% of Stableford Capital II LLC’s holdings, making the stock its 15th largest holding. Stableford Capital II LLC’s holdings in MercadoLibre were worth $4,418,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of MercadoLibre during the second quarter worth about $2,246,015,000. Janus Henderson Group PLC increased its holdings in MercadoLibre by 1.7% during the 1st quarter. Janus Henderson Group PLC now owns 614,238 shares of the company’s stock valued at $1,062,019,000 after purchasing an additional 10,142 shares during the period. Linonia Partnership LP increased its holdings in MercadoLibre by 325.1% during the 2nd 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 during the period. Jupiter Topco LLC bought a new position in MercadoLibre during the 2nd quarter valued at approximately $917,123,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised 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 Analyst Weigh In

A number of equities research analysts have recently weighed in on MELI shares. Cantor Fitzgerald lifted their price objective on MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Susquehanna upped their target price on MercadoLibre to $2,400.00 and gave the company a “positive” rating in a report on Tuesday. New Street Research assumed coverage on MercadoLibre in a research note on Wednesday, September 23rd. They issued a “buy” rating and a $2,450.00 price target for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MercadoLibre in a research note on Tuesday, September 29th. Finally, Zacks Research upgraded shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, MercadoLibre presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,251.88.

MercadoLibre Stock Down 0.9%

Shares of NASDAQ:MELI opened at $1,856.66 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. The stock has a fifty day simple moving average of $1,864.15 and a two-hundred day simple moving average of $1,774.90. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,428.00. The stock has a market capitalization of $94.13 billion, a price-to-earnings ratio of 50.49, a PEG ratio of 1.31 and a beta of 1.31.

MercadoLibre (NASDAQ:MELI) last issued 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. The firm had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.79 billion. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The company’s revenue was up 49.8% on a year-over-year basis. During the same period last year, the company earned $10.31 earnings per share. On average, research analysts anticipate that MercadoLibre, Inc. will post 38.29 earnings per share for the current fiscal year.

About MercadoLibre

MercadoLibre, Inc (NASDAQ:MELI) operates a technology platform serving commerce and financial-services customers across Latin America. Its online marketplace connects buyers and sellers, offering products across categories including electronics, apparel, home goods, automotive products and consumer packaged goods.

The company also provides a range of supporting services, including Mercado Pago, a digital payments platform that enables online and in-person transactions, money transfers and other financial services.