Vanguard Personalized Indexing Management LLC Increases Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Vanguard Personalized Indexing Management LLC increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 6.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,788 shares of the company’s stock after buying an additional 103 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in MercadoLibre were worth $2,871,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Raymond James & Associates lifted its holdings in MercadoLibre by 4.8% during 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 in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in MercadoLibre by 20.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,642 shares of the company’s stock valued at $41,794,000 after purchasing an additional 4,658 shares in the last quarter. Gulf International Bank UK Ltd lifted its holdings in MercadoLibre by 33.4% during the first quarter. Gulf International Bank UK Ltd now owns 4,960 shares of the company’s stock valued at $7,499,000 after purchasing an additional 1,241 shares in the last quarter. Caprock Group LLC lifted its holdings 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 in the last quarter. Finally, Sarasin & Partners LLP lifted its holdings in MercadoLibre by 168.5% during the second 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 in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Price Performance

MercadoLibre stock opened at $2,103.75 on Friday. MercadoLibre, Inc. has a 12-month low of $1,141.04 and a 12-month high of $2,157.64. The stock has a market cap of $106.65 billion, a P/E ratio of 94.13, a PEG ratio of 1.33 and a beta of 1.61. The company has a 50-day moving average price of $1,899.17 and a 200 day moving average price of $1,690.40. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67.

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

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. StockNews.com downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Bank of America increased their target price on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Susquehanna increased their target price on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. increased their target price on shares of MercadoLibre from $2,150.00 to $2,400.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Finally, BTIG Research increased their target price on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, MercadoLibre presently has an average rating of “Moderate Buy” and an average target price of $2,207.31.

About MercadoLibre

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.