Intech Investment Management LLC Increases Position in MercadoLibre, Inc. (NASDAQ:MELI)

Intech Investment Management LLC raised its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 0.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,260 shares of the company’s stock after buying an additional 13 shares during the period. Intech Investment Management LLC’s holdings in MercadoLibre were worth $3,714,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of MELI. GQG Partners LLC grew its position in MercadoLibre by 442.2% in the 1st quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock valued at $1,201,679,000 after acquiring an additional 648,198 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in MercadoLibre by 43.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock worth $1,167,073,000 after buying an additional 232,787 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in shares of MercadoLibre in the second quarter worth $2,913,000. Janus Henderson Group PLC increased its position in shares of MercadoLibre by 55.8% during the first quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock worth $557,225,000 after acquiring an additional 132,028 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of MercadoLibre by 1,432.2% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 127,355 shares of the company’s stock valued at $200,140,000 after acquiring an additional 119,043 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Down 0.3 %

MELI opened at $2,103.75 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. MercadoLibre, Inc. has a 52 week low of $1,141.04 and a 52 week high of $2,157.64. The business’s 50 day moving average is $1,899.17 and its two-hundred day moving average is $1,691.54. The firm has a market cap of $106.65 billion, a price-to-earnings ratio of 94.13, a price-to-earnings-growth ratio of 1.33 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, beating 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 the consensus estimate of $4.64 billion. During the same quarter in the prior year, the firm earned $5.16 EPS. MercadoLibre’s revenue for the quarter was up 41.5% on a year-over-year basis. On average, research analysts predict that MercadoLibre, Inc. will post 35.22 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on MELI shares. Bank of America boosted their target price on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Morgan Stanley upped their target price on shares of MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a research note on Friday. Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. Citigroup increased their price objective 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. Finally, The Goldman Sachs Group lifted their price objective on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and a consensus target price of $2,207.31.

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.