Costello Asset Management INC Acquires New Shares in MercadoLibre, Inc. (NASDAQ:MELI)

Key Points

• Costello Asset Management INC has acquired a new stake in **MercadoLibre, Inc.**, purchasing 108 shares valued at approximately **$211,000**.
• Institutional investors collectively own **87.62%** of MercadoLibre's stock, with significant stake increases reported from firms like **Capital International Investors** and **Assenagon Asset Management S.A.**.
• MercadoLibre recently reported a **Q2 EPS** of $10.31, missing estimates, but had a **33.8%** year-over-year revenue increase to **$6.79 billion**.

Costello Asset Management INC bought a new position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 108 shares of the company's stock, valued at approximately $211,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Capital Research Global Investors grew its position in MercadoLibre by 8.0% during the fourth quarter. Capital Research Global Investors now owns 2,415,815 shares of the company's stock valued at $4,108,079,000 after buying an additional 179,807 shares during the period. Capital International Investors lifted its holdings in shares of MercadoLibre by 38.7% in the 4th quarter. Capital International Investors now owns 1,687,114 shares of the company's stock worth $2,868,869,000 after acquiring an additional 470,829 shares during the last quarter. Capital World Investors lifted its stake in shares of MercadoLibre by 24.5% during the 4th quarter. Capital World Investors now owns 1,568,602 shares of the company's stock worth $2,667,386,000 after acquiring an additional 308,973 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in MercadoLibre by 41.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company's stock valued at $2,370,848,000 after buying an additional 405,425 shares in the last quarter. Finally, Jennison Associates LLC raised its position in MercadoLibre by 1.6% during the 1st quarter. Jennison Associates LLC now owns 1,154,116 shares of the company's stock valued at $2,251,531,000 after purchasing an additional 18,731 shares in the last quarter. Institutional investors own 87.62% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Raymond James Financial reissued a "strong-buy" rating and set a $2,750.00 price target on shares of MercadoLibre in a research report on Tuesday. Jefferies Financial Group restated a "hold" rating and issued a $2,800.00 price target on shares of MercadoLibre in a research note on Tuesday. Wall Street Zen downgraded shares of MercadoLibre from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. Benchmark restated a "buy" rating and issued a $2,875.00 price objective on shares of MercadoLibre in a report on Tuesday. Finally, Susquehanna restated a "positive" rating and issued a $2,975.00 price target (up from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $2,795.00.

MercadoLibre Stock Performance

MELI traded up $17.60 on Thursday, reaching $2,334.82. The company had a trading volume of 352,014 shares, compared to its average volume of 351,713. The stock has a market capitalization of $118.38 billion, a PE ratio of 57.66, a P/E/G ratio of 1.42 and a beta of 1.46. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. MercadoLibre, Inc. has a 1 year low of $1,646.00 and a 1 year high of $2,645.22. The stock has a 50-day moving average price of $2,441.77 and a 200-day moving average price of $2,238.33.

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