EFG Asset Management Americas Corp. purchased a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 745 shares of the company's stock, valued at approximately $1,741,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Lavaca Capital LLC increased its holdings in MercadoLibre by 140,201.3% during the second quarter. Lavaca Capital LLC now owns 1,066,290 shares of the company's stock worth $2,786,888,000 after buying an additional 1,065,530 shares during the last quarter. Norges Bank bought a new position in shares of MercadoLibre in the 2nd quarter valued at about $698,848,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of MercadoLibre by 304.7% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 255,103 shares of the company's stock worth $666,744,000 after purchasing an additional 192,071 shares during the last quarter. Flossbach Von Storch SE increased its stake in shares of MercadoLibre by 1,669.4% during the 3rd quarter. Flossbach Von Storch SE now owns 181,719 shares of the company's stock worth $424,666,000 after purchasing an additional 171,449 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of MercadoLibre by 28.4% in the 3rd quarter. Wellington Management Group LLP now owns 493,770 shares of the company's stock valued at $1,153,911,000 after purchasing an additional 109,228 shares during the period. Institutional investors own 87.62% of the company's stock.
Key MercadoLibre News
Here are the key news stories impacting MercadoLibre this week:
Analysts Set New Price Targets
Several brokerages recently issued reports on MELI. Dbs Bank upgraded shares of MercadoLibre from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, December 2nd. Cantor Fitzgerald dropped their price objective on MercadoLibre from $2,750.00 to $2,400.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 25th. Barclays cut their price objective on MercadoLibre from $2,900.00 to $2,600.00 and set an "overweight" rating for the company in a research report on Wednesday, February 25th. Wedbush decreased their target price on MercadoLibre from $2,600.00 to $2,400.00 and set an "outperform" rating on the stock in a report on Wednesday, February 25th. Finally, Zacks Research upgraded MercadoLibre from a "strong sell" rating to a "hold" rating in a research note on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $2,725.33.
View Our Latest Stock Report on MELI
MercadoLibre Trading Down 0.6%
Shares of NASDAQ:MELI opened at $1,670.00 on Friday. MercadoLibre, Inc. has a 12-month low of $1,631.18 and a 12-month high of $2,645.22. The business has a 50 day moving average of $1,996.22 and a 200-day moving average of $2,117.50. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.68. The stock has a market cap of $84.67 billion, a PE ratio of 42.39, a P/E/G ratio of 0.89 and a beta of 1.48.
MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results on Tuesday, February 24th. The company reported $11.03 earnings per share for the quarter, missing analysts' consensus estimates of $11.66 by ($0.63). The firm had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.45 billion. MercadoLibre had a return on equity of 33.73% and a net margin of 6.91%.MercadoLibre's revenue for the quarter was up 44.6% on a year-over-year basis. During the same quarter last year, the business posted $12.61 EPS. As a group, equities research analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.
About MercadoLibre
(
Free Report)
MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.
Key offerings include its marketplace platform and a suite of logistics and payment services.
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