Financiere des Professionnels Fonds d investissement inc. Makes New $499,000 Investment in MercadoLibre, Inc. $MELI

Key Points

• Financiere des Professionnels Fonds d'investissement inc. acquired 191 shares of MercadoLibre, valued at approximately $499,000, indicating increased institutional interest in the stock.
• MercadoLibre reported $10.31 EPS for the last quarter, missing analysts' estimates of $12.01, but its revenue rose by 33.8% year-over-year to $6.79 billion.
• The stock currently has a consensus rating of "Moderate Buy" with an average price target of $2,817.22, reflecting analysts' positive outlook on its growth potential.

Financiere des Professionnels Fonds d investissement inc. bought a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 191 shares of the company's stock, valued at approximately $499,000.

Several other institutional investors have also added to or reduced their stakes in the business. Optimize Financial Inc lifted its holdings in shares of MercadoLibre by 1.7% during the 1st quarter. Optimize Financial Inc now owns 238 shares of the company's stock valued at $464,000 after buying an additional 4 shares during the period. Formidable Asset Management LLC raised its holdings in MercadoLibre by 3.2% in the 4th quarter. Formidable Asset Management LLC now owns 160 shares of the company's stock worth $272,000 after purchasing an additional 5 shares during the period. Revolve Wealth Partners LLC raised its holdings in MercadoLibre by 4.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 118 shares of the company's stock worth $201,000 after purchasing an additional 5 shares during the period. Sonora Investment Management Group LLC raised its holdings in MercadoLibre by 3.1% in the 1st quarter. Sonora Investment Management Group LLC now owns 168 shares of the company's stock worth $328,000 after purchasing an additional 5 shares during the period. Finally, Beacon Capital Management LLC raised its holdings in MercadoLibre by 8.3% in the 1st quarter. Beacon Capital Management LLC now owns 65 shares of the company's stock worth $127,000 after purchasing an additional 5 shares during the period. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on MELI shares. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $2,750.00 target price on shares of MercadoLibre in a report on Tuesday, August 5th. UBS Group set a $3,000.00 price objective on MercadoLibre in a research report on Monday, June 2nd. Cantor Fitzgerald restated an "overweight" rating and set a $2,700.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 5th. Wall Street Zen lowered MercadoLibre from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. Finally, Wedbush set a $2,700.00 price target on MercadoLibre and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. One 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.com, the company currently has an average rating of "Moderate Buy" and an average target price of $2,817.22.

MercadoLibre Trading Down 1.0%

Shares of MercadoLibre stock traded down $24.03 on Friday, hitting $2,452.34. 416,882 shares of the company traded hands, compared to its average volume of 391,160. The stock's 50 day moving average price is $2,380.81 and its 200-day moving average price is $2,313.86. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22. The company has a market cap of $124.33 billion, a PE ratio of 60.57, a PEG ratio of 1.59 and a beta of 1.49.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $6.79 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the firm posted $10.48 EPS. Equities research analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current year.

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.