MercadoLibre, Inc. (NASDAQ:MELI) Shares Purchased by 1832 Asset Management L.P.

1832 Asset Management L.P. raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 9.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 60,459 shares of the company’s stock after acquiring an additional 5,019 shares during the period. 1832 Asset Management L.P. owned 0.12% of MercadoLibre worth $99,358,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Gryphon Financial Partners LLC lifted its position in MercadoLibre by 40.9% during the fourth quarter. Gryphon Financial Partners LLC now owns 513 shares of the company’s stock worth $861,000 after buying an additional 149 shares during the period. Brown Advisory Inc. boosted its position in shares of MercadoLibre by 2.3% in the fourth quarter. Brown Advisory Inc. now owns 545 shares of the company’s stock worth $856,000 after acquiring an additional 12 shares during the last quarter. Quest Partners LLC purchased a new stake in MercadoLibre in the fourth quarter valued at approximately $288,000. US Bancorp DE increased its position in MercadoLibre by 6.8% during the fourth quarter. US Bancorp DE now owns 10,721 shares of the company’s stock worth $16,848,000 after purchasing an additional 682 shares during the last quarter. Finally, FineMark National Bank & Trust purchased a new position in MercadoLibre during the fourth quarter worth approximately $204,000. 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 Monday. MercadoLibre, Inc. has a 12-month low of $1,141.04 and a 12-month high of $2,157.64. 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 stock has a market capitalization of $106.65 billion, a PE ratio of 94.13, a P/E/G ratio of 1.33 and a beta of 1.61. The firm’s fifty day moving average price is $1,899.17 and its 200 day moving average price is $1,692.71.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, August 1st. The company reported $10.48 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 business had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter last year, the company posted $5.16 earnings per share. The company’s quarterly revenue was up 41.5% compared to the same quarter last year. As a group, research analysts expect that MercadoLibre, Inc. will post 35.22 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on MELI shares. The Goldman Sachs Group upped their price objective on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. StockNews.com lowered MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Bank of America lifted their price objective on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Citigroup increased their target price on shares of MercadoLibre from $2,000.00 to $2,200.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Finally, Cantor Fitzgerald began coverage on shares of MercadoLibre in a research note on Thursday, September 5th. They set an “overweight” rating and a $2,530.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus 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.