Caprock Group LLC Raises Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Caprock Group LLC boosted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 143.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 580 shares of the company’s stock after purchasing an additional 342 shares during the quarter. Caprock Group LLC’s holdings in MercadoLibre were worth $955,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in MELI. Amalgamated Bank increased its holdings in MercadoLibre by 22.2% during the 4th quarter. Amalgamated Bank now owns 55 shares of the company’s stock worth $86,000 after acquiring an additional 10 shares during the period. Private Advisor Group LLC increased its holdings in shares of MercadoLibre by 33.2% in the fourth quarter. Private Advisor Group LLC now owns 530 shares of the company’s stock worth $833,000 after purchasing an additional 132 shares during the period. Gryphon Financial Partners LLC raised its position in shares of MercadoLibre by 40.9% in the fourth quarter. Gryphon Financial Partners LLC now owns 513 shares of the company’s stock worth $861,000 after buying an additional 149 shares in the last quarter. Principal Securities Inc. bought a new stake in MercadoLibre during the fourth quarter valued at $242,000. Finally, QRG Capital Management Inc. purchased a new position in MercadoLibre during the fourth quarter worth about $223,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on MELI shares. Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and raised their price target for the company from $1,400.00 to $2,100.00 in a report on Monday, May 20th. Citigroup lifted their target price on shares of MercadoLibre from $2,000.00 to $2,200.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Dbs Bank raised shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 11th. Cantor Fitzgerald initiated coverage on shares of MercadoLibre in a report on Thursday, September 5th. They set an “overweight” rating and a $2,530.00 price objective for the company. Finally, StockNews.com cut MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $2,141.25.

MercadoLibre Stock Down 0.6 %

MELI opened at $2,017.58 on Wednesday. MercadoLibre, Inc. has a 12 month low of $1,141.04 and a 12 month high of $2,064.76. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. The business’s 50-day moving average price is $1,831.51 and its 200-day moving average price is $1,663.23. The company has a market cap of $102.29 billion, a P/E ratio of 90.27, a P/E/G ratio of 1.29 and a beta of 1.60.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, beating the consensus estimate of $8.53 by $1.95. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The firm had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter in the previous year, the company posted $5.16 earnings per share. The business’s revenue was up 41.5% on a year-over-year basis. On average, equities analysts expect that MercadoLibre, Inc. will post 35.22 EPS for the current year.

MercadoLibre Company Profile

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.