Scientech Research LLC Makes New Investment in MercadoLibre, Inc. $MELI

Key Points

• Scientech Research LLC acquired 1,688 shares of MercadoLibre, Inc., valued at approximately $3.29 million, making it the company's second-largest position in their investment portfolio.
• MercadoLibre reported earnings of $10.31 EPS for the latest quarter, missing estimates of $12.01, but achieved a revenue increase of 33.8% year-over-year with $6.79 billion.
• Institutional investors collectively own 87.62% of MercadoLibre's stock, and recent analyst ratings have given the company a consensus rating of "Moderate Buy" with an average price target of approximately $2,817.22.

Scientech Research LLC acquired a new position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,688 shares of the company's stock, valued at approximately $3,293,000. MercadoLibre comprises 0.9% of Scientech Research LLC's investment portfolio, making the stock its 2nd largest holding.

Other hedge funds have also bought and sold shares of the company. Key Financial Inc bought a new position in shares of MercadoLibre in the 1st quarter worth $25,000. GW&K Investment Management LLC bought a new position in MercadoLibre in the first quarter valued at $25,000. Close Asset Management Ltd raised its position in MercadoLibre by 366.7% during the first quarter. Close Asset Management Ltd now owns 14 shares of the company's stock valued at $27,000 after purchasing an additional 11 shares in the last quarter. Park Square Financial Group LLC purchased a new position in shares of MercadoLibre in the 4th quarter worth about $26,000. Finally, Brooklyn Investment Group boosted its holdings in shares of MercadoLibre by 650.0% in the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company's stock worth $29,000 after purchasing an additional 13 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Trading Down 0.5%

Shares of NASDAQ MELI traded down $10.79 during trading hours on Thursday, hitting $2,338.20. The company's stock had a trading volume of 330,897 shares, compared to its average volume of 389,439. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22. 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. 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 business has a 50-day simple moving average of $2,391.71 and a 200-day simple moving average of $2,304.11.

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

Analysts Set New Price Targets

Several analysts have issued reports on the company. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $2,750.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. Wedbush set a $2,700.00 price objective on shares of MercadoLibre and gave the company an "outperform" rating in a research note on Tuesday, August 5th. JPMorgan Chase & Co. lifted their target price on shares of MercadoLibre from $2,600.00 to $2,700.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Scotiabank started coverage on shares of MercadoLibre in a research report on Monday, July 28th. They set a "sector outperform" rating and a $3,500.00 price target for the company. Finally, Barclays reduced their price objective on MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, MercadoLibre currently has an average rating of "Moderate Buy" and an average target price of $2,817.22.

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.