Berkshire Capital Holdings Inc. Boosts Stock Holdings in MercadoLibre, Inc. $MELI

Key Points

• Berkshire Capital Holdings Inc. significantly increased its stake in MercadoLibre, lifting its position by 48,100% during Q1, now holding approximately $9.40 million worth of shares.
• Several institutional investors have also increased their stakes in MercadoLibre, leading to a total institutional ownership of 87.62% of the company.
• Analysts have set various price targets for MercadoLibre's stock, with a consensus average target of $2,795.00, reflecting a general “Moderate Buy” rating for the stock.

Berkshire Capital Holdings Inc. boosted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 48,100.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,820 shares of the company's stock after acquiring an additional 4,810 shares during the quarter. MercadoLibre accounts for about 4.5% of Berkshire Capital Holdings Inc.'s investment portfolio, making the stock its 12th largest holding. Berkshire Capital Holdings Inc.'s holdings in MercadoLibre were worth $9,403,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Meiji Yasuda Life Insurance Co increased its stake in shares of MercadoLibre by 0.5% in the fourth quarter. Meiji Yasuda Life Insurance Co now owns 999 shares of the company's stock worth $1,699,000 after buying an additional 5 shares during the period. Formidable Asset Management LLC grew 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 acquiring an additional 5 shares during the last quarter. Revolve Wealth Partners LLC increased its position in shares of MercadoLibre by 4.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 118 shares of the company's stock valued at $201,000 after acquiring an additional 5 shares during the period. Sonora Investment Management Group LLC increased its position in shares of MercadoLibre by 3.1% in the first quarter. Sonora Investment Management Group LLC now owns 168 shares of the company's stock valued at $328,000 after acquiring an additional 5 shares during the period. Finally, Beacon Capital Management LLC raised its stake in shares of MercadoLibre by 8.3% during the first quarter. Beacon Capital Management LLC now owns 65 shares of the company's stock valued at $127,000 after acquiring an additional 5 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Benchmark reissued a "buy" rating and issued a $2,875.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. UBS Group set a $3,000.00 price objective on MercadoLibre in a research report on Monday, June 2nd. The Goldman Sachs Group boosted their target price on MercadoLibre from $2,640.00 to $3,000.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $2,700.00 price target on shares of MercadoLibre in a research note on Tuesday, August 5th. Finally, Barclays cut their price target on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $2,817.22.

MercadoLibre Stock Down 0.9%

Shares of MercadoLibre stock traded down $21.07 during midday trading on Tuesday, hitting $2,342.94. The company had a trading volume of 343,407 shares, compared to its average volume of 362,042. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week high of $2,645.22. 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 stock has a market capitalization of $118.79 billion, a P/E ratio of 57.86, a P/E/G ratio of 1.50 and a beta of 1.46. The company has a 50 day moving average of $2,411.81 and a 200 day moving average of $2,267.19.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its 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). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The company had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.57 billion. During the same period last year, the firm posted $10.48 earnings per share. The company's revenue was up 33.8% compared to the same quarter last year. On average, equities analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal 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.