Erste Asset Management GmbH Purchases 2,290 Shares of MercadoLibre, Inc. $MELI

Key Points

• Erste Asset Management GmbH increased its stake in MercadoLibre, Inc. by 21.2%, purchasing an additional 2,290 shares, bringing its total holdings to 13,087 shares valued at $27.19 million.
• MercadoLibre reported earnings of $10.31 per share for the latest quarter, missing expectations of $12.01, despite surpassing revenue estimates with $6.79 billion.
• Analysts have set varying price targets for MercadoLibre, with UBS Group aiming for $3,000.00 and Benchmark at $2,875.00, contributing to a consensus rating of "Moderate Buy".

Erste Asset Management GmbH boosted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 21.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,087 shares of the company's stock after purchasing an additional 2,290 shares during the period. Erste Asset Management GmbH's holdings in MercadoLibre were worth $27,189,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MELI. Key Financial Inc purchased a new position in MercadoLibre during the 1st quarter worth approximately $25,000. GW&K Investment Management LLC purchased a new position in MercadoLibre during the 1st quarter worth approximately $25,000. Park Square Financial Group LLC purchased a new position in MercadoLibre during the 4th quarter worth approximately $26,000. Close Asset Management Ltd grew its position in MercadoLibre by 366.7% during the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company's stock worth $27,000 after purchasing an additional 11 shares in the last quarter. Finally, Brooklyn Investment Group grew its position in MercadoLibre by 650.0% during the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company's stock worth $29,000 after purchasing an additional 13 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Stock Up 4.0%

Shares of MELI stock traded up $93.18 on Friday, hitting $2,430.62. The company's stock had a trading volume of 436,058 shares, compared to its average volume of 369,414. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. MercadoLibre, Inc. has a fifty-two week low of $1,646.00 and a fifty-two week high of $2,645.22. The firm's fifty day moving average price is $2,411.33 and its 200-day moving average price is $2,275.89. The stock has a market capitalization of $123.23 billion, a price-to-earnings ratio of 60.03, a P/E/G ratio of 1.58 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 business had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The firm's revenue for the quarter was up 33.8% on a year-over-year basis. During the same period in the previous year, the firm posted $10.48 EPS. Research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on MELI shares. Scotiabank started coverage on shares of MercadoLibre in a research report on Monday, July 28th. They set a "sector outperform" rating and a $3,500.00 price objective on the stock. Barclays lowered their price target on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. Citigroup lowered their price target on shares of MercadoLibre from $2,900.00 to $2,850.00 and set a "buy" rating on the stock in a report on Monday, August 18th. Benchmark restated a "buy" rating and set a $2,875.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Finally, Wall Street Zen cut shares of MercadoLibre from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $2,817.22.

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.