Cross Staff Investments Inc Takes Position in MercadoLibre, Inc. $MELI

Key Points

• Cross Staff Investments Inc acquired a new stake in MercadoLibre, Inc., purchasing 200 shares valued at approximately $523,000 during Q2 2023.
• Institutional investors significantly increased their positions in MercadoLibre, with Banco Santander S.A. raising its stake by 221.9% in Q1 2023.
• Analysts are optimistic about MercadoLibre, as evidenced by multiple upgrades to target prices, with Cantor Fitzgerald raising its target from $2,700 to $2,900.

Cross Staff Investments Inc acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 200 shares of the company's stock, valued at approximately $523,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ninety One North America Inc. increased its position in MercadoLibre by 21.5% in the 2nd quarter. Ninety One North America Inc. now owns 6,094 shares of the company's stock valued at $15,927,000 after buying an additional 1,080 shares in the last quarter. Banco Santander S.A. increased its position in MercadoLibre by 221.9% in the 1st quarter. Banco Santander S.A. now owns 2,746 shares of the company's stock valued at $5,357,000 after buying an additional 1,893 shares in the last quarter. Stratos Investment Management LLC bought a new stake in MercadoLibre in the 1st quarter valued at about $203,000. Vaughan Nelson Investment Management L.P. increased its position in MercadoLibre by 8.5% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,257 shares of the company's stock valued at $5,899,000 after buying an additional 177 shares in the last quarter. Finally, Bosman Wealth Management LLC increased its position in MercadoLibre by 88.5% in the 2nd quarter. Bosman Wealth Management LLC now owns 1,001 shares of the company's stock valued at $2,616,000 after buying an additional 470 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on MELI shares. Cantor Fitzgerald boosted their target price on MercadoLibre from $2,700.00 to $2,900.00 and gave the company an "overweight" rating in a research report on Wednesday, September 24th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of MercadoLibre in a research report on Wednesday. Benchmark reaffirmed a "buy" rating and issued a $2,875.00 target price on shares of MercadoLibre in a research report on Tuesday, August 5th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $2,750.00 target price on shares of MercadoLibre in a research report on Tuesday, August 5th. Finally, Susquehanna reissued a "positive" rating and set a $2,975.00 price objective (up from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, MercadoLibre has an average rating of "Moderate Buy" and a consensus target price of $2,815.29.

MercadoLibre Stock Performance

Shares of MELI opened at $2,133.67 on Friday. 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 50 day moving average price of $2,363.50 and a two-hundred day moving average price of $2,344.22. The firm has a market capitalization of $108.18 billion, a P/E ratio of 52.70, a P/E/G ratio of 1.52 and a beta of 1.46. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $10.31 earnings per share 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 during the quarter, compared to analysts' expectations of $6.57 billion. During the same quarter in the previous year, the firm earned $10.48 EPS. MercadoLibre's quarterly revenue was up 33.8% on a year-over-year basis. Equities analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

MercadoLibre Company 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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