Mercer Global Advisors Inc. ADV Acquires 2,939 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Mercer Global Advisors Inc. ADV grew its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 265.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,046 shares of the company’s stock after purchasing an additional 2,939 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in MercadoLibre were worth $6,649,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. First PREMIER Bank bought a new stake in MercadoLibre in the first quarter valued at $27,000. Migdal Insurance & Financial Holdings Ltd. increased 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 acquired a new stake in shares of MercadoLibre during the 4th quarter worth about $36,000. Scarborough Advisors LLC bought a new position in MercadoLibre during the 4th quarter valued at about $36,000. Finally, Financial Connections Group Inc. acquired a new position in MercadoLibre in the second quarter valued at about $36,000. 87.62% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on MELI shares. StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. The Goldman Sachs Group boosted their price objective on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Bank of America raised their target price 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. New Street Research cut MercadoLibre from a “buy” rating to a “neutral” rating in a report on Friday, May 24th. Finally, Barclays increased their price objective on shares of MercadoLibre from $2,000.00 to $2,100.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $2,207.31.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $2,103.75 on Friday. MercadoLibre, Inc. has a 52 week low of $1,141.04 and a 52 week high of $2,157.64. 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 stock has a market capitalization of $106.65 billion, a price-to-earnings ratio of 94.13, a PEG ratio of 1.33 and a beta of 1.61. The firm has a fifty day moving average of $1,899.17 and a two-hundred day moving average of $1,690.40.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, beating the consensus estimate of $8.53 by $1.95. The firm 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 quarterly revenue was up 41.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.16 earnings per share. As a group, equities research analysts predict that MercadoLibre, Inc. will post 35.22 EPS for the current 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.