MercadoLibre, Inc. (NASDAQ:MELI) Stock Position Raised by Tremblant Capital Group

Tremblant Capital Group grew its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 17.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,992 shares of the company’s stock after acquiring an additional 3,513 shares during the quarter. MercadoLibre accounts for approximately 4.3% of Tremblant Capital Group’s holdings, making the stock its 8th biggest holding. Tremblant Capital Group’s holdings in MercadoLibre were worth $39,428,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in MELI. Gryphon Financial Partners LLC grew its holdings in shares of MercadoLibre by 40.9% in the fourth quarter. Gryphon Financial Partners LLC now owns 513 shares of the company’s stock worth $861,000 after purchasing an additional 149 shares during the last quarter. Orion Portfolio Solutions LLC boosted its holdings in shares of MercadoLibre by 8.7% during the 4th quarter. Orion Portfolio Solutions LLC now owns 489 shares of the company’s stock valued at $770,000 after buying an additional 39 shares in the last quarter. Nations Financial Group Inc. IA ADV purchased a new position in shares of MercadoLibre in the 4th quarter worth about $627,000. Intech Investment Management LLC raised its position in shares of MercadoLibre by 0.6% in the 4th quarter. Intech Investment Management LLC now owns 3,175 shares of the company’s stock worth $4,990,000 after purchasing an additional 19 shares during the last quarter. Finally, IPG Investment Advisors LLC raised its position in MercadoLibre by 6.0% in the 4th quarter. IPG Investment Advisors LLC now owns 475 shares of the company’s stock worth $746,000 after buying an additional 27 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MELI. 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 note on Thursday, July 11th. JPMorgan Chase & Co. raised their target price on shares of MercadoLibre from $2,150.00 to $2,400.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. Citigroup raised their target price on shares of MercadoLibre from $2,000.00 to $2,200.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Finally, BTIG Research lifted their price objective on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $2,207.31.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $2,102.63 on Tuesday. The company has a market capitalization of $106.60 billion, a PE ratio of 94.08, a P/E/G ratio of 1.33 and a beta of 1.61. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. The company has a 50-day simple moving average of $1,906.34 and a two-hundred day simple moving average of $1,696.74. MercadoLibre, Inc. has a one year low of $1,141.04 and a one year high of $2,157.64.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. The business had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.64 billion. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The company’s revenue was up 41.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.16 earnings per share. Research analysts expect that MercadoLibre, Inc. will post 35.22 EPS for the current fiscal year.

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.