University of Texas Texas AM Investment Management Co. Has $1.13 Million Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

University of Texas Texas AM Investment Management Co. raised its position in MercadoLibre, Inc. (NASDAQ:MELI) by 211.8% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 689 shares of the company’s stock after buying an additional 468 shares during the period. University of Texas Texas AM Investment Management Co.’s holdings in MercadoLibre were worth $1,132,000 as of its most recent filing with the SEC.

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

Wall Street Analysts Forecast Growth

MELI has been the subject of a number of analyst reports. Susquehanna lifted their price objective on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research note on Wednesday, August 28th. Raymond James began coverage on MercadoLibre in a research report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 target price for the company. BTIG Research increased their price target on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Bank of America boosted their price objective on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a report on Thursday, September 12th. Finally, Morgan Stanley increased their target price 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 issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, MercadoLibre presently has an average rating of “Moderate Buy” and a consensus price target of $2,217.50.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $2,066.12 on Wednesday. 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 firm has a market cap of $104.75 billion, a price-to-earnings ratio of 92.44, a price-to-earnings-growth ratio of 1.34 and a beta of 1.61. MercadoLibre, Inc. has a one year low of $1,141.04 and a one year high of $2,161.73. The stock’s 50-day moving average is $1,955.98 and its 200-day moving average is $1,720.04.

MercadoLibre (NASDAQ:MELI) last released 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. 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 the consensus estimate of $4.64 billion. During the same quarter in the prior year, the firm posted $5.16 EPS. The business’s revenue was up 41.5% on a year-over-year basis. Equities analysts predict that MercadoLibre, Inc. will post 35.79 earnings per share 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.