Knights of Columbus Asset Advisors LLC Buys 887 Shares of MercadoLibre, Inc. $MELI

Knights of Columbus Asset Advisors LLC boosted its position in MercadoLibre, Inc. (NASDAQ:MELI) by 392.5% during the third quarter, Holdings Channel reports. The fund owned 1,113 shares of the company’s stock after acquiring an additional 887 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in MercadoLibre were worth $1,924,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in MELI. Lido Advisors LLC increased its position in shares of MercadoLibre by 6.9% during the 3rd quarter. Lido Advisors LLC now owns 2,646 shares of the company’s stock valued at $4,575,000 after purchasing an additional 171 shares during the last quarter. Csenge Advisory Group raised its holdings in shares of MercadoLibre by 57.1% during the 3rd quarter. Csenge Advisory Group now owns 209 shares of the company’s stock valued at $361,000 after buying an additional 76 shares in the last quarter. Gryphon Financial Partners LLC lifted its position in MercadoLibre by 1.2% in the 3rd quarter. Gryphon Financial Partners LLC now owns 994 shares of the company’s stock worth $1,718,000 after buying an additional 12 shares during the last quarter. AlphaCore Capital LLC lifted its position in MercadoLibre by 39.6% in the 3rd quarter. AlphaCore Capital LLC now owns 328 shares of the company’s stock worth $567,000 after buying an additional 93 shares during the last quarter. Finally, Fulcrum Asset Management LLP bought a new stake in MercadoLibre in the 3rd quarter worth approximately $57,000. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Up 1.5%

MELI opened at $1,512.02 on Thursday. The company has a market cap of $76.66 billion, a P/E ratio of 39.97, a P/E/G ratio of 1.07 and a beta of 1.42. The business’s 50-day moving average price is $1,781.38 and its 200-day moving average price is $1,795.48. The company has a current ratio of 1.17, a quick ratio of 1.10 and a debt-to-equity ratio of 0.77. MercadoLibre, Inc. has a 12 month low of $1,465.06 and a 12 month high of $2,342.00.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Wednesday, November 4th. The company reported $8.83 earnings per share for the quarter, missing analysts’ consensus estimates of $9.27 by ($0.44). The company had revenue of $10.75 billion during the quarter, compared to the consensus estimate of $10.69 billion. MercadoLibre had a net margin of 4.91% and a return on equity of 25.15%. The company’s revenue was up 45.1% on a year-over-year basis. During the same period last year, the firm posted $8.32 EPS. On average, equities analysts expect that MercadoLibre, Inc. will post 37.44 EPS for the current year.

Key MercadoLibre News

These are some of the MELI news items that stood out recently:

• Positive Sentiment: MercadoLibre continues to show strong commerce and fintech growth. Third-quarter revenue rose 45% year over year to $10.75 billion, supporting the longer-term growth case. Article: MercadoLibre Declines 11.9% Since Q3 Earnings
• Neutral Sentiment: After a steep recent decline, some coverage argues MELI may offer an attractive entry point for growth investors, while other analysis questions whether its valuation is justified by current earnings. Article: Is MercadoLibre an Obvious Growth Stock to Buy?
• Negative Sentiment: Profitability concerns are weighing on sentiment: Q3 EPS of $8.83 missed the $9.27 consensus, and heavy investment spending and margin pressure have overshadowed revenue growth. Article: MercadoLibre Declines 11.9% Since Q3 Earnings

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. JPMorgan Chase & Co. cut their target price on MercadoLibre from $2,150.00 to $1,850.00 and set a “neutral” rating for the company in a research note on Monday. UBS Group lowered their price objective on shares of MercadoLibre from $1,750.00 to $1,600.00 and set a “neutral” rating for the company in a report on Wednesday. Cantor Fitzgerald cut their price objective on shares of MercadoLibre from $2,200.00 to $2,000.00 and set an “overweight” rating for the company in a research note on Thursday, November 5th. New Street Research started coverage on shares of MercadoLibre in a report on Wednesday, September 23rd. They set a “buy” rating and a $2,450.00 target price on the stock. Finally, Raymond James Financial reaffirmed a “strong-buy” rating on shares of MercadoLibre in a report on Thursday, November 5th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and an average price target of $2,170.62.

MercadoLibre Company Profile

MercadoLibre, Inc. operates an online commerce and financial technology platform focused on Latin America. Founded in Argentina in 1999, the company connects buyers and sellers through its marketplace, where businesses and individuals can list and purchase a wide range of products. The company’s services also include Mercado Pago, which offers digital payment and financial services for transactions on and off its marketplace. MercadoLibre supports commerce with services such as Mercado Envíos, its shipping and logistics platform, and provides advertising tools for merchants and brands.