Avity Investment Management Inc. Invests $31.77 Million in MercadoLibre, Inc. $MELI

Key Points

• Avity Investment Management Inc. invested approximately $31.77 million in MercadoLibre, acquiring 12,154 shares, making it the firm's 20th largest position at 2.4% of its holdings.
• MercadoLibre reported $10.31 earnings per share for the last quarter, missing estimates, but its revenue grew by 33.8% year-over-year, reaching $6.79 billion.
• Analysts have varying price targets for MercadoLibre, with a consensus target of $2,817.22 and the majority rating the stock as a "Moderate Buy."

Avity Investment Management Inc. acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 12,154 shares of the company's stock, valued at approximately $31,766,000. MercadoLibre comprises 2.4% of Avity Investment Management Inc.'s holdings, making the stock its 20th biggest position.

Several other hedge funds have also recently added to or reduced their stakes in MELI. Quintet Private Bank Europe S.A. grew its position in shares of MercadoLibre by 13.0% during the 2nd quarter. Quintet Private Bank Europe S.A. now owns 174 shares of the company's stock worth $455,000 after buying an additional 20 shares during the period. Parallel Advisors LLC boosted its holdings in shares of MercadoLibre by 167.3% in the 2nd quarter. Parallel Advisors LLC now owns 532 shares of the company's stock worth $1,391,000 after buying an additional 333 shares during the last quarter. Capital Asset Advisory Services LLC bought a new stake in MercadoLibre in the 2nd quarter valued at about $235,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of MercadoLibre by 12.7% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 89 shares of the company's stock worth $233,000 after buying an additional 10 shares in the last quarter. Finally, Salem Investment Counselors Inc. lifted its holdings in shares of MercadoLibre by 1.2% in the second quarter. Salem Investment Counselors Inc. now owns 1,874 shares of the company's stock worth $4,898,000 after buying an additional 22 shares in the last quarter. Institutional investors own 87.62% of the company's stock.

MercadoLibre Trading Up 0.0%

MercadoLibre stock opened at $2,339.36 on Monday. The stock has a 50-day moving average of $2,384.98 and a two-hundred day moving average of $2,308.07. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. MercadoLibre, Inc. has a one year low of $1,646.00 and a one year high of $2,645.22. The stock has a market cap of $118.60 billion, a PE ratio of 57.78, a price-to-earnings-growth ratio of 1.52 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 (EPS) for the quarter, missing analysts' consensus estimates of $12.01 by ($1.70). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The business had revenue of $6.79 billion for the quarter, compared to analysts' expectations of $6.57 billion. During the same period in the prior year, the business posted $10.48 earnings per share. The business's quarterly revenue was up 33.8% compared to the same quarter last year. On average, research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analysts Set New Price Targets

MELI has been the topic of several recent analyst reports. Scotiabank initiated coverage on shares of MercadoLibre in a report on Monday, July 28th. They issued a "sector outperform" rating and a $3,500.00 target price on the stock. JPMorgan Chase & Co. lifted their price objective on MercadoLibre from $2,600.00 to $2,700.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Jefferies Financial Group restated a "hold" rating and set a $2,800.00 price target on shares of MercadoLibre in a research note on Tuesday, August 5th. Citigroup cut their price target on MercadoLibre from $2,900.00 to $2,850.00 and set a "buy" rating for the company in a research note on Monday, August 18th. Finally, Susquehanna reiterated a "positive" rating and set a $2,975.00 price objective (up from $2,840.00) on shares of MercadoLibre in a research note on Thursday, June 26th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $2,817.22.

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.

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