Driehaus Capital Management LLC Increases Position in MercadoLibre, Inc. (NASDAQ:MELI)

Driehaus Capital Management LLC raised its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 33.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 31,667 shares of the company’s stock after purchasing an additional 7,966 shares during the period. Driehaus Capital Management LLC owned 0.06% of MercadoLibre worth $52,042,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. First PREMIER Bank purchased a new position in MercadoLibre in the 1st quarter worth approximately $27,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of MercadoLibre by 1,600.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after purchasing an additional 16 shares in the last quarter. Scarborough Advisors LLC purchased a new stake in shares of MercadoLibre during the fourth quarter valued at $36,000. Financial Connections Group Inc. bought a new stake in MercadoLibre in the 2nd quarter worth about $36,000. Finally, Transcendent Capital Group LLC purchased a new position in MercadoLibre in the 4th quarter worth about $38,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Trading Down 1.7 %

Shares of MELI opened at $2,064.71 on Friday. The stock has a market capitalization of $104.67 billion, a PE ratio of 92.38, a P/E/G ratio of 1.34 and a beta of 1.61. The company’s fifty day moving average is $1,941.21 and its 200 day moving average is $1,710.31. 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, Inc. has a fifty-two week low of $1,141.04 and a fifty-two week high of $2,161.73.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.53 by $1.95. The business had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.64 billion. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The company’s quarterly revenue was up 41.5% compared to the same quarter last year. During the same period in the prior year, the business posted $5.16 earnings per share. Sell-side analysts expect that MercadoLibre, Inc. will post 35.79 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on MELI. The Goldman Sachs Group boosted their target price on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. increased their target price on MercadoLibre from $2,150.00 to $2,400.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. Bank of America boosted their price target 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. Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. Finally, Morgan Stanley raised their price objective on shares of MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and a consensus target price of $2,217.50.

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.