1832 Asset Management L.P. Purchases Shares of 40,630 MercadoLibre, Inc. $MELI

Key Points

• 1832 Asset Management L.P. invested $79.26 million in MercadoLibre, acquiring 40,630 shares, which amounts to approximately 0.08% ownership in the company.
• Several large institutional investors, including Banco Santander S.A. and JARISLOWSKY FRASER Ltd, have significantly increased their stakes in MercadoLibre during the first quarter of this year.
• Analysts have set varying price targets for MercadoLibre, with the average consensus target at $2,817.22, while the stock is currently trading around $2,430.62.

1832 Asset Management L.P. bought a new stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 40,630 shares of the company's stock, valued at approximately $79,264,000. 1832 Asset Management L.P. owned about 0.08% of MercadoLibre at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of MELI. Key Financial Inc acquired a new stake in shares of MercadoLibre during the first quarter worth about $25,000. GW&K Investment Management LLC acquired a new stake in shares of MercadoLibre during the first quarter worth about $25,000. Close Asset Management Ltd lifted its position in shares of MercadoLibre by 366.7% during the first quarter. Close Asset Management Ltd now owns 14 shares of the company's stock worth $27,000 after purchasing an additional 11 shares in the last quarter. Park Square Financial Group LLC acquired a new stake in shares of MercadoLibre during the fourth quarter worth about $26,000. Finally, Brooklyn Investment Group lifted its position in shares of MercadoLibre by 650.0% during the first 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. Institutional investors and hedge funds own 87.62% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on MELI shares. Jefferies Financial Group reissued a "hold" rating and set a $2,800.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. Citigroup reduced their price target on shares of MercadoLibre from $2,900.00 to $2,850.00 and set a "buy" rating on the stock in a research report on Monday, August 18th. Morgan Stanley reissued an "overweight" rating on shares of MercadoLibre in a research report on Thursday, May 1st. JPMorgan Chase & Co. increased their price target 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. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $2,700.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $2,817.22.

MercadoLibre Stock Down 0.1%

MercadoLibre stock traded down $2.21 during mid-day trading on Tuesday, hitting $2,405.53. The company had a trading volume of 409,689 shares, compared to its average volume of 390,684. The stock has a market cap of $121.96 billion, a price-to-earnings ratio of 59.41, a PEG ratio of 1.58 and a beta of 1.46. MercadoLibre, Inc. has a 1 year low of $1,646.00 and a 1 year high of $2,645.22. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. The business has a fifty day moving average of $2,410.39 and a 200 day moving average of $2,280.61.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing the consensus estimate of $12.01 by ($1.70). The company had revenue of $6.79 billion during 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 for the quarter was up 33.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $10.48 earnings per share. On average, sell-side analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

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.