Seven Mile Advisory Invests $207,000 in MercadoLibre, Inc. $MELI

Key Points

• Seven Mile Advisory has acquired a new position in MercadoLibre, purchasing 106 shares valued at approximately $207,000 in the first quarter.
• MercadoLibre's stock is currently trading at $2,392.30, with a market capitalization of $121.29 billion and a PE ratio of 59.08.
• The company reported a 33.8% year-over-year increase in revenue to $6.79 billion, although it missed earnings expectations with $10.31 per share.

Seven Mile Advisory bought a new position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 106 shares of the company's stock, valued at approximately $207,000.

A number of other hedge funds also recently made changes to their positions in MELI. Price T Rowe Associates Inc. MD increased its holdings in MercadoLibre by 41.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company's stock worth $2,370,848,000 after buying an additional 405,425 shares during the last quarter. Capital World Investors increased its holdings in MercadoLibre by 24.5% during the fourth quarter. Capital World Investors now owns 1,568,602 shares of the company's stock worth $2,667,386,000 after buying an additional 308,973 shares during the last quarter. Capital Research Global Investors increased its holdings in MercadoLibre by 8.0% during the fourth quarter. Capital Research Global Investors now owns 2,415,815 shares of the company's stock worth $4,108,079,000 after buying an additional 179,807 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in MercadoLibre by 170.9% during the first quarter. Assenagon Asset Management S.A. now owns 274,960 shares of the company's stock worth $536,411,000 after buying an additional 173,449 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in MercadoLibre by 22.4% during the first quarter. Invesco Ltd. now owns 570,967 shares of the company's stock worth $1,113,881,000 after buying an additional 104,554 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Price Performance

NASDAQ MELI traded down $21.07 on Tuesday, hitting $2,342.94. The stock had a trading volume of 343,407 shares, compared to its average volume of 362,042. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week high of $2,645.22. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. The company has a market capitalization of $118.79 billion, a price-to-earnings ratio of 57.86, a price-to-earnings-growth ratio of 1.50 and a beta of 1.46. The firm has a 50-day moving average of $2,411.81 and a 200-day moving average of $2,267.19.

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Cantor Fitzgerald restated an "overweight" rating and set a $2,700.00 price objective on shares of MercadoLibre in a report on Tuesday, August 5th. Raymond James Financial reiterated a "strong-buy" rating and issued a $2,750.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. Barclays reduced their target price on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. Benchmark reiterated a "buy" rating and issued a $2,875.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of MercadoLibre in a research note on Thursday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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.