Figure 8 Investment Strategies LLC Increases Holdings in MercadoLibre, Inc. $MELI

Figure 8 Investment Strategies LLC lifted its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 130.7% in the second quarter, HoldingsChannel.com reports. The fund owned 796 shares of the company’s stock after buying an additional 451 shares during the quarter. Figure 8 Investment Strategies LLC’s holdings in MercadoLibre were worth $1,351,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Capital Research Global Investors boosted its stake in MercadoLibre by 22.5% in the 4th quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock worth $4,481,812,000 after purchasing an additional 408,939 shares during the period. Capital International Investors grew its holdings in MercadoLibre by 7.3% during the 4th quarter. Capital International Investors now owns 1,725,125 shares of the company’s stock valued at $3,474,880,000 after buying an additional 118,018 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of MercadoLibre by 9.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company’s stock valued at $3,188,718,000 after buying an additional 137,100 shares during the last quarter. BlackRock Inc. bought a new stake in shares of MercadoLibre during the second quarter valued at approximately $2,246,015,000. Finally, Janus Henderson Group PLC lifted its holdings in shares of MercadoLibre by 1.7% in the first quarter. Janus Henderson Group PLC now owns 614,238 shares of the company’s stock worth $1,062,019,000 after buying an additional 10,142 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Down 0.6%

NASDAQ MELI opened at $1,978.36 on Friday. The stock has a 50 day moving average price of $1,859.43 and a 200-day moving average price of $1,770.98. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,548.50. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12. The company has a market capitalization of $100.30 billion, a P/E ratio of 53.80, a P/E/G ratio of 1.36 and a beta of 1.31.

MercadoLibre (NASDAQ:MELI) last announced 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 company 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%. MercadoLibre’s quarterly revenue was up 49.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $10.31 earnings per share. As a group, equities analysts predict that MercadoLibre, Inc. will post 39.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MELI. UBS Group dropped their target price on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. BTIG Research reiterated a “buy” rating and issued a $2,150.00 price target on shares of MercadoLibre in a report on Thursday. Citigroup boosted their price target on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Barclays dropped their price objective on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating for the company in a report on Monday, May 11th. Finally, Morgan Stanley reduced their target price on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. Eleven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and an average target price 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.