Acadian Asset Management LLC Makes New Investment in MercadoLibre, Inc. (NASDAQ:MELI)

Acadian Asset Management LLC purchased a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 623 shares of the company’s stock, valued at approximately $1,023,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raymond James & Associates boosted its stake in shares of MercadoLibre by 4.8% in the second quarter. Raymond James & Associates now owns 34,840 shares of the company’s stock valued at $57,256,000 after purchasing an additional 1,604 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of MercadoLibre by 20.3% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,642 shares of the company’s stock valued at $41,794,000 after buying an additional 4,658 shares during the last quarter. Gulf International Bank UK Ltd raised its stake in MercadoLibre by 33.4% during the 1st quarter. Gulf International Bank UK Ltd now owns 4,960 shares of the company’s stock worth $7,499,000 after acquiring an additional 1,241 shares in the last quarter. Sarasin & Partners LLP lifted its position in MercadoLibre by 168.5% in the second quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock valued at $74,622,000 after acquiring an additional 28,494 shares during the last quarter. Finally, Banco BTG Pactual S.A. boosted its stake in MercadoLibre by 24.6% in the fourth quarter. Banco BTG Pactual S.A. now owns 16,758 shares of the company’s stock valued at $26,504,000 after acquiring an additional 3,312 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Down 0.8 %

NASDAQ:MELI opened at $2,105.51 on Tuesday. The business’s 50-day moving average is $1,869.28 and its two-hundred day moving average is $1,677.47. The firm has a market capitalization of $106.74 billion, a PE ratio of 94.21, a price-to-earnings-growth ratio of 1.33 and a beta of 1.61. MercadoLibre, Inc. has a 12 month low of $1,141.04 and a 12 month high of $2,143.96. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26.

MercadoLibre (NASDAQ:MELI) last announced its earnings results 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. The business had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The business’s quarterly revenue was up 41.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.16 earnings per share. Research analysts predict that MercadoLibre, Inc. will post 35.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MELI. The Goldman Sachs Group boosted their price objective on MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. New Street Research lowered MercadoLibre from a “buy” rating to a “neutral” rating in a report on Friday, May 24th. Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and raised their price objective for the stock from $1,400.00 to $2,100.00 in a research note on Monday, May 20th. Cantor Fitzgerald started coverage on shares of MercadoLibre in a research note on Thursday, September 5th. They issued an “overweight” rating and a $2,530.00 target price for the company. Finally, Citigroup boosted their price target on MercadoLibre from $2,000.00 to $2,200.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $2,182.92.

MercadoLibre 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.