105 Shares in MercadoLibre, Inc. $MELI Acquired by Ruggaard & Associates LLC

Key Points

• Ruggaard & Associates LLC acquired 105 shares of MercadoLibre, Inc. for approximately $205,000 in the first quarter, marking a new position for the investment firm.
• Various institutional investors have increased their stakes in MercadoLibre, with 87.62% of the stock owned by institutional investors.
• Analysts have varied ratings for MercadoLibre, with the average target price set at $2,817.22, reflecting a consensus of "Moderate Buy."

Ruggaard & Associates LLC purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 105 shares of the company's stock, valued at approximately $205,000.

Several other large investors have also recently added to or reduced their stakes in MELI. Samlyn Capital LLC lifted its holdings in shares of MercadoLibre by 93.5% during the first quarter. Samlyn Capital LLC now owns 64,301 shares of the company's stock worth $125,443,000 after buying an additional 31,067 shares in the last quarter. Punch & Associates Investment Management Inc. bought a new stake in shares of MercadoLibre in the first quarter valued at about $13,114,000. Parkwood LLC grew its stake in shares of MercadoLibre by 69.9% in the first quarter. Parkwood LLC now owns 9,218 shares of the company's stock valued at $17,983,000 after acquiring an additional 3,792 shares in the last quarter. PharVision Advisers LLC acquired a new stake in MercadoLibre in the 1st quarter worth about $306,000. Finally, Nissay Asset Management Corp Japan ADV raised its stake in MercadoLibre by 10.5% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 11,803 shares of the company's stock worth $23,026,000 after purchasing an additional 1,121 shares in the last quarter. Institutional investors own 87.62% of the company's stock.

MercadoLibre Price Performance

NASDAQ MELI traded down $10.79 on Thursday, hitting $2,338.20. 330,978 shares of the company's stock were exchanged, compared to its average volume of 389,706. The stock has a 50-day moving average of $2,391.71 and a 200-day moving average of $2,304.11. The stock has a market cap of $118.55 billion, a price-to-earnings ratio of 57.75, a P/E/G ratio of 1.54 and a beta of 1.49. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing analysts' consensus estimates of $12.01 by ($1.70). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The business had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.57 billion. During the same period last year, the firm posted $10.48 EPS. MercadoLibre's quarterly revenue was up 33.8% on a year-over-year basis. Analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analysts Set New Price Targets

MELI has been the topic of a number of analyst reports. Raymond James Financial restated a "strong-buy" rating and set a $2,750.00 target price on shares of MercadoLibre in a research report on Tuesday, August 5th. Scotiabank initiated coverage on MercadoLibre in a research note on Monday, July 28th. They issued a "sector outperform" rating and a $3,500.00 price target for the company. The Goldman Sachs Group raised their price objective on MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Citigroup dropped their price objective on MercadoLibre from $2,900.00 to $2,850.00 and set a "buy" rating for the company in a report on Monday, August 18th. Finally, Susquehanna reissued a "positive" rating and set a $2,975.00 target price (up from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $2,817.22.

MercadoLibre 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.