Boston Common Asset Management LLC Boosts Stock Position in MercadoLibre, Inc. $MELI

Key Points

• Boston Common Asset Management LLC has increased its stake in MercadoLibre, Inc. by 25.1%, owning 5,837 shares valued at approximately $15.26 million at the end of Q2.
• MercadoLibre's stock is currently valued at $2,172.75, down 3.3%, with a market capitalization of $110.16 billion and a P/E ratio of 53.66.
• Market analysts maintain an overall positive outlook on MercadoLibre, with a consensus rating of "Moderate Buy" and an average target price of $2,822.78.

Boston Common Asset Management LLC increased its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 25.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,837 shares of the company's stock after purchasing an additional 1,171 shares during the quarter. Boston Common Asset Management LLC's holdings in MercadoLibre were worth $15,256,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. Jennison Associates LLC lifted its holdings in MercadoLibre by 1.6% during the 1st quarter. Jennison Associates LLC now owns 1,154,116 shares of the company's stock worth $2,251,531,000 after purchasing an additional 18,731 shares in the last quarter. Invesco Ltd. lifted its holdings in MercadoLibre by 22.4% during the 1st quarter. Invesco Ltd. now owns 570,967 shares of the company's stock worth $1,113,881,000 after purchasing an additional 104,554 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in MercadoLibre by 21.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company's stock worth $1,073,823,000 after purchasing an additional 96,283 shares in the last quarter. Generation Investment Management LLP lifted its holdings in MercadoLibre by 3.3% during the 1st quarter. Generation Investment Management LLP now owns 530,564 shares of the company's stock worth $1,035,061,000 after purchasing an additional 16,878 shares in the last quarter. Finally, GQG Partners LLC lifted its holdings in MercadoLibre by 23.5% during the 1st quarter. GQG Partners LLC now owns 461,875 shares of the company's stock worth $901,058,000 after purchasing an additional 87,912 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.

MercadoLibre Stock Down 3.3%

Shares of NASDAQ:MELI opened at $2,172.75 on Friday. The stock's 50-day moving average price is $2,382.29 and its 200-day moving average price is $2,343.55. 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 capitalization of $110.16 billion, a P/E ratio of 53.66, a price-to-earnings-growth ratio of 1.44 and a beta of 1.46. 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 (NASDAQ:MELI - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) 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 the consensus estimate of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The firm's revenue for the quarter was up 33.8% compared to the same quarter last year. During the same period in the previous year, the business earned $10.48 earnings per share. On average, equities analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MELI. Susquehanna reiterated a "positive" rating and issued a $2,975.00 price objective (up previously from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. Wedbush set a $2,700.00 price objective on MercadoLibre and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Citigroup lowered their price objective on 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. Scotiabank began coverage on MercadoLibre in a research report on Monday, July 28th. They issued a "sector outperform" rating and a $3,500.00 price objective on the stock. Finally, Cantor Fitzgerald increased their price objective on MercadoLibre from $2,700.00 to $2,900.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $2,822.78.

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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