111 Capital Buys New Position in MercadoLibre, Inc. $MELI

Key Points

• 111 Capital has taken a new position in MercadoLibre, Inc. by acquiring 415 shares valued at approximately $1,085,000 during the 2nd quarter.
• MercadoLibre received mixed sentiments from analysts, with Barclays lowering their target price to $3,000 while Cantor Fitzgerald raised it to $2,900, indicating differing views on the stock's outlook.
• The company reported a net margin of 8.52% and a revenue increase of 33.8% compared to the previous year, although it missed earnings expectations for the quarter.

111 Capital bought a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 415 shares of the company's stock, valued at approximately $1,085,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Impact Investors Inc boosted its position in shares of MercadoLibre by 8.9% during the 2nd quarter. Impact Investors Inc now owns 147 shares of the company's stock valued at $383,000 after purchasing an additional 12 shares in the last quarter. Matthews International Capital Management LLC boosted its position in shares of MercadoLibre by 13.7% during the 2nd quarter. Matthews International Capital Management LLC now owns 1,681 shares of the company's stock valued at $4,394,000 after purchasing an additional 202 shares in the last quarter. Segment Wealth Management LLC boosted its position in shares of MercadoLibre by 4.9% during the 2nd quarter. Segment Wealth Management LLC now owns 835 shares of the company's stock valued at $2,182,000 after purchasing an additional 39 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in shares of MercadoLibre by 8.5% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,257 shares of the company's stock valued at $5,899,000 after purchasing an additional 177 shares in the last quarter. Finally, Jackson Wealth Management LLC bought a new stake in shares of MercadoLibre during the 2nd quarter valued at about $499,000. Institutional investors own 87.62% of the company's stock.

Analyst Upgrades and Downgrades

MELI has been the topic of several research analyst reports. Barclays cut their target price on MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 23rd. Cantor Fitzgerald upped their price target on MercadoLibre from $2,700.00 to $2,900.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 24th. Daiwa Capital Markets began coverage on MercadoLibre in a research note on Friday, August 1st. They set a "buy" rating and a $3,000.00 price target on the stock. JPMorgan Chase & Co. dropped their price target on MercadoLibre from $2,700.00 to $2,600.00 and set a "neutral" rating on the stock in a research note on Friday. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of MercadoLibre in a research note on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $2,822.78.

MercadoLibre Stock Performance

Shares of MELI opened at $2,172.75 on Friday. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $110.16 billion, a price-to-earnings ratio of 53.66, a PEG ratio of 1.44 and a beta of 1.46. The stock has a 50 day moving average of $2,382.29 and a 200 day moving average of $2,343.55. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued 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). The business had revenue of $6.79 billion for the quarter, compared to analysts' expectations of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The business's revenue was up 33.8% compared to the same quarter last year. During the same period in the previous year, the business posted $10.48 earnings per share. As a group, sell-side analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share 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.

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