MercadoLibre, Inc. (NASDAQ:MELI) Shares Purchased by Algert Global LLC

Algert Global LLC grew its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 30.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 390 shares of the company’s stock after purchasing an additional 90 shares during the period. Algert Global LLC’s holdings in MercadoLibre were worth $641,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. First PREMIER Bank acquired a new position in MercadoLibre during the 1st quarter worth about $27,000. Migdal Insurance & Financial Holdings Ltd. lifted its position 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 worth $28,000 after purchasing an additional 16 shares in the last quarter. Scarborough Advisors LLC purchased a new position in shares of MercadoLibre in the fourth quarter valued at approximately $36,000. Financial Connections Group Inc. acquired a new position in shares of MercadoLibre in the second quarter valued at approximately $36,000. Finally, Transcendent Capital Group LLC purchased a new stake in MercadoLibre during the 4th quarter worth approximately $38,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on MELI shares. JPMorgan Chase & Co. cut shares of MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 price target for the company. in a research report on Wednesday. Dbs Bank upgraded MercadoLibre from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 11th. BTIG Research boosted their target price on MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. The Goldman Sachs Group increased their price target on MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Finally, StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, MercadoLibre currently has an average rating of “Moderate Buy” and an average price target of $2,246.07.

MercadoLibre Price Performance

Shares of MELI opened at $1,960.00 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26. MercadoLibre, Inc. has a 1-year low of $1,141.04 and a 1-year high of $2,161.73. The stock has a market cap of $99.37 billion, a PE ratio of 87.70, a price-to-earnings-growth ratio of 1.34 and a beta of 1.61. The firm has a fifty day moving average price of $1,975.39 and a 200 day moving average price of $1,728.02.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, August 1st. The company reported $10.48 EPS 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 analysts’ expectations of $4.64 billion. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The business’s revenue was up 41.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.16 earnings per share. As a group, sell-side analysts anticipate that MercadoLibre, Inc. will post 35.79 EPS for the current year.

About MercadoLibre

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.