Eschler Asset Management LLP Buys Shares of 531 MercadoLibre, Inc. $MELI

Key Points

• Eschler Asset Management LLP acquired a new stake in MercadoLibre, buying 531 shares valued at approximately $1,036,000, making it the firm's 11th largest position.
• MercadoLibre's stock has seen increases in support from several large investors, with institutional ownership now at 87.62% of its stock.
• Despite a strong revenue growth of 33.8% year-over-year, the company reported earnings per share of $10.31, missing analysts' expectations of $12.01.

Eschler Asset Management LLP bought a new position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm bought 531 shares of the company's stock, valued at approximately $1,036,000. MercadoLibre comprises approximately 2.6% of Eschler Asset Management LLP's portfolio, making the stock its 11th biggest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Bank Pictet & Cie Europe AG purchased a new position in shares of MercadoLibre during the fourth quarter worth $561,000. Comerica Bank boosted its holdings in MercadoLibre by 22.4% in the fourth quarter. Comerica Bank now owns 2,398 shares of the company's stock valued at $4,078,000 after purchasing an additional 439 shares in the last quarter. Bison Wealth LLC acquired a new stake in shares of MercadoLibre in the fourth quarter valued at approximately $206,000. Aptus Capital Advisors LLC acquired a new stake in shares of MercadoLibre in the fourth quarter valued at approximately $284,000. Finally, Ancora Advisors LLC raised its stake in shares of MercadoLibre by 10.9% during the fourth quarter. Ancora Advisors LLC now owns 61 shares of the company's stock worth $104,000 after purchasing an additional 6 shares during the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Stock Down 2.9%

NASDAQ MELI traded down $70.53 during trading on Monday, reaching $2,346.96. 783,945 shares of the company's stock were exchanged, compared to its average volume of 390,558. MercadoLibre, Inc. has a fifty-two week low of $1,646.00 and a fifty-two week high of $2,645.22. The firm has a market capitalization of $118.99 billion, a PE ratio of 57.96, a P/E/G ratio of 1.57 and a beta of 1.49. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. The company's fifty day simple moving average is $2,402.07 and its 200-day simple moving average is $2,302.70.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly 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 firm had revenue of $6.79 billion for the quarter, compared to analysts' expectations of $6.57 billion. During the same period last year, the business earned $10.48 earnings per share. The firm's revenue for the quarter was up 33.8% on a year-over-year basis. Sell-side analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on MELI. The Goldman Sachs Group increased their price objective on MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Wall Street Zen cut MercadoLibre from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $2,700.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. JPMorgan Chase & Co. boosted their price target on MercadoLibre from $2,600.00 to $2,700.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Finally, Barclays cut their target price on MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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.