Impax Asset Management Group plc Has $34.29 Million Stock Holdings in MercadoLibre, Inc. $MELI

Impax Asset Management Group plc raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 2.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 20,199 shares of the company’s stock after acquiring an additional 461 shares during the quarter. Impax Asset Management Group plc’s holdings in MercadoLibre were worth $34,286,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Laurel Wealth Advisors LLC acquired a new stake in MercadoLibre during the 4th quarter valued at approximately $26,000. Transamerica Financial Advisors LLC acquired a new position in shares of MercadoLibre during the fourth quarter valued at about $26,000. Purpose Unlimited Inc. acquired a new position in MercadoLibre during the 4th quarter worth approximately $28,000. Darwin Wealth Management LLC bought a new position in MercadoLibre in the second quarter worth approximately $29,000. Finally, Curio Wealth LLC bought a new position in MercadoLibre in the fourth quarter worth approximately $30,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Price Performance

MELI stock opened at $1,921.96 on Friday. The firm has a 50 day moving average of $1,786.39 and a 200-day moving average of $1,774.91. The firm has a market capitalization of $97.44 billion, a P/E ratio of 52.27, a price-to-earnings-growth ratio of 1.31 and a beta of 1.34. 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, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,548.50.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share for the quarter, topping the consensus estimate of $8.65 by $0.54. The firm had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The business’s quarterly revenue was up 49.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $10.31 earnings per share. As a group, sell-side analysts predict that MercadoLibre, Inc. will post 39.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MELI has been the subject of a number of recent research reports. The Goldman Sachs Group set a $2,100.00 price target on shares of MercadoLibre in a research note on Wednesday, May 13th. BTIG Research reaffirmed a “buy” rating and set a $2,150.00 price target on shares of MercadoLibre in a research report on Thursday, August 6th. Scotiabank decreased their price objective on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating for the company in a report on Thursday, May 7th. Barclays lowered their price objective on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. Finally, Cantor Fitzgerald upped their price objective on MercadoLibre from $2,150.00 to $2,300.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $2,272.00.

MercadoLibre Company 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.