Argent Trust Co Purchases New Position in MercadoLibre, Inc. (NASDAQ:MELI)

Argent Trust Co purchased a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 150 shares of the company’s stock, valued at approximately $247,000.

Other large investors have also added to or reduced their stakes in the company. Raymond James & Associates increased its position in MercadoLibre by 4.8% in the second quarter. Raymond James & Associates now owns 34,840 shares of the company’s stock worth $57,256,000 after purchasing an additional 1,604 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in MercadoLibre by 20.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,642 shares of the company’s stock worth $41,794,000 after acquiring an additional 4,658 shares in the last quarter. Gulf International Bank UK Ltd increased its stake in MercadoLibre by 33.4% during the first 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 during the last quarter. Caprock Group LLC raised its position in MercadoLibre by 143.7% during the second quarter. Caprock Group LLC now owns 580 shares of the company’s stock valued at $955,000 after purchasing an additional 342 shares during the period. Finally, Sarasin & Partners LLP lifted its stake in shares of MercadoLibre by 168.5% in the 2nd quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock valued at $74,622,000 after purchasing an additional 28,494 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Down 0.3 %

NASDAQ:MELI opened at $2,103.75 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26. The firm has a market cap of $106.65 billion, a PE ratio of 94.13, a price-to-earnings-growth ratio of 1.33 and a beta of 1.61. The company has a 50-day moving average of $1,899.17 and a 200 day moving average of $1,690.40. MercadoLibre, Inc. has a 1-year low of $1,141.04 and a 1-year high of $2,157.64.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, topping the consensus estimate of $8.53 by $1.95. The firm had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The company’s revenue was up 41.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.16 EPS. As a group, research analysts anticipate that MercadoLibre, Inc. will post 35.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. JPMorgan Chase & Co. increased their price target on MercadoLibre from $2,150.00 to $2,400.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. The Goldman Sachs Group upped their price target on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Bank of America raised their price objective on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Barclays upped their target price on MercadoLibre from $2,000.00 to $2,100.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Finally, StockNews.com cut MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $2,207.31.

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.