MercadoLibre, Inc. (NASDAQ:MELI) is Deepwater Asset Management LLC’s 7th Largest Position

Deepwater Asset Management LLC lessened its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 6.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,815 shares of the company’s stock after selling 594 shares during the quarter. MercadoLibre accounts for about 5.3% of Deepwater Asset Management LLC’s holdings, making the stock its 7th biggest position. Deepwater Asset Management LLC’s holdings in MercadoLibre were worth $14,487,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First PREMIER Bank purchased a new stake in shares of MercadoLibre in the first quarter valued at approximately $27,000. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of MercadoLibre by 1,600.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after purchasing an additional 16 shares in the last quarter. DSM Capital Partners LLC purchased a new stake in shares of MercadoLibre during the 4th quarter worth $36,000. Scarborough Advisors LLC acquired a new position in shares of MercadoLibre during the 4th quarter worth $36,000. Finally, Financial Connections Group Inc. purchased a new position in shares of MercadoLibre in the 2nd quarter valued at about $36,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Down 0.3 %

MELI stock opened at $2,103.75 on Friday. MercadoLibre, Inc. has a one year low of $1,141.04 and a one year high of $2,157.64. The stock has a market capitalization 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 two-hundred day moving average price of $1,691.54. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28.

MercadoLibre (NASDAQ:MELI) last released its 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 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 analyst estimates of $4.64 billion. During the same period in the prior year, the firm posted $5.16 earnings per share. The business’s quarterly revenue was up 41.5% compared to the same quarter last year. As a group, sell-side analysts expect that MercadoLibre, Inc. will post 35.22 EPS for the current year.

Wall Street Analysts Forecast Growth

MELI has been the topic of several recent analyst reports. Susquehanna upped their target price on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research report on Wednesday, August 28th. Barclays raised their price objective 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. Morgan Stanley boosted their target price on MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a research report on Friday. Dbs Bank upgraded MercadoLibre from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 11th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of MercadoLibre from $2,150.00 to $2,400.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Two investment 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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.