Equitable Trust Co. Buys 1,738 Shares of MercadoLibre, Inc. $MELI

Key Points

• Equitable Trust Co. increased its stake in MercadoLibre by 123.6%, acquiring an additional 1,738 shares, bringing its total ownership to 3,144 shares valued at approximately $8.2 million.
• Several other hedge funds have also raised their holdings in MercadoLibre, with total institutional ownership now at 87.62% of the stock.
• Analysts have set new target prices for MercadoLibre, with Cantor Fitzgerald raising their target from $2,700 to $2,900 and various analysts issuing a consensus rating of "Moderate Buy" with an average target price of $2,810.88.

Equitable Trust Co. increased its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 123.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,144 shares of the company's stock after purchasing an additional 1,738 shares during the period. Equitable Trust Co.'s holdings in MercadoLibre were worth $8,217,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Jennison Associates LLC boosted its stake in shares of MercadoLibre by 1.6% in the 1st quarter. Jennison Associates LLC now owns 1,154,116 shares of the company's stock worth $2,251,531,000 after buying an additional 18,731 shares during the last quarter. Invesco Ltd. lifted its holdings in MercadoLibre by 22.4% in the first quarter. Invesco Ltd. now owns 570,967 shares of the company's stock valued at $1,113,881,000 after acquiring an additional 104,554 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in MercadoLibre by 21.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company's stock valued at $1,073,823,000 after acquiring an additional 96,283 shares during the period. Generation Investment Management LLP increased its position in shares of MercadoLibre by 3.3% during the 1st quarter. Generation Investment Management LLP now owns 530,564 shares of the company's stock valued at $1,035,061,000 after purchasing an additional 16,878 shares during the last quarter. Finally, GQG Partners LLC increased its position in shares of MercadoLibre by 23.5% during the 1st quarter. GQG Partners LLC now owns 461,875 shares of the company's stock valued at $901,058,000 after purchasing an additional 87,912 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MELI has been the subject of several recent research reports. Cantor Fitzgerald boosted their target price on shares of MercadoLibre from $2,700.00 to $2,900.00 and gave the company an "overweight" rating in a research report on Wednesday, September 24th. Wedbush set a $2,700.00 target price on MercadoLibre and gave the stock an "outperform" rating in a 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 report on Tuesday, August 5th. Daiwa Capital Markets assumed coverage on MercadoLibre in a research report on Friday, August 1st. They issued a "buy" rating and a $3,000.00 price target for the company. Finally, Wall Street Zen downgraded MercadoLibre from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $2,810.88.

MercadoLibre Stock Up 2.0%

NASDAQ MELI opened at $2,175.91 on Tuesday. The stock's 50 day moving average is $2,359.10 and its 200 day moving average is $2,348.74. 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, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22. The stock has a market cap of $110.32 billion, a PE ratio of 53.74, a P/E/G ratio of 1.43 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings data 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 company had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The company's quarterly revenue was up 33.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $10.48 EPS. Research analysts predict that MercadoLibre, Inc. will post 43.96 EPS 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.

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