Diversified Trust Co Takes Position in MercadoLibre, Inc. $MELI

Key Points

• Diversified Trust Co acquired 1,271 shares of MercadoLibre, valued at approximately $3.32 million, marking a new investment in the company during the second quarter.
• MercadoLibre reported quarterly earnings of $10.31 EPS, missing estimates by ($1.70), although revenue grew by 33.8% compared to the previous year.
• Analysts have set a moderate buy rating for MercadoLibre, with an average price target of $2,817.22, indicating confidence in the company’s future prospects.

Diversified Trust Co bought a new position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The firm bought 1,271 shares of the company's stock, valued at approximately $3,322,000.

Other large investors also recently added to or reduced their stakes in the company. IFM Investors Pty Ltd boosted its stake in shares of MercadoLibre by 4.9% during the 2nd quarter. IFM Investors Pty Ltd now owns 9,005 shares of the company's stock valued at $23,536,000 after purchasing an additional 424 shares in the last quarter. Oliver Lagore Vanvalin Investment Group purchased a new position in MercadoLibre in the second quarter worth about $3,123,000. Moody National Bank Trust Division raised its holdings in MercadoLibre by 1.3% in the second quarter. Moody National Bank Trust Division now owns 1,014 shares of the company's stock worth $2,650,000 after buying an additional 13 shares during the last quarter. Contravisory Investment Management Inc. raised its holdings in MercadoLibre by 6.8% in the second quarter. Contravisory Investment Management Inc. now owns 142 shares of the company's stock worth $371,000 after buying an additional 9 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its holdings in MercadoLibre by 213.8% in the second quarter. Exchange Traded Concepts LLC now owns 12,232 shares of the company's stock worth $31,970,000 after buying an additional 8,334 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.

MercadoLibre Stock Down 1.0%

MELI stock opened at $2,452.34 on Friday. The firm has a 50 day moving average of $2,382.11 and a 200 day moving average of $2,317.99. The stock has a market capitalization of $124.33 billion, a PE ratio of 60.57, a price-to-earnings-growth ratio of 1.60 and a beta of 1.49. The company has a quick ratio of 1.18, a current ratio of 1.20 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.

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. Sell-side analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analyst Ratings Changes

MELI has been the subject of several research reports. Wedbush set a $2,700.00 price objective on shares of MercadoLibre and gave the company an "outperform" rating in a report on Tuesday, August 5th. Raymond James Financial reiterated a "strong-buy" rating and issued a $2,750.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $2,700.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. Susquehanna restated a "positive" rating and set a $2,975.00 target price (up previously from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. Finally, Daiwa Capital Markets started coverage on shares of MercadoLibre in a research report on Friday, August 1st. They set a "buy" rating and a $3,000.00 target price for the company. One investment 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 an average price target 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.

Want to see what other hedge funds are holding MELI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MercadoLibre, Inc. (NASDAQ:MELI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.