128 Shares in MercadoLibre, Inc. (NASDAQ:MELI) Purchased by Fayez Sarofim & Co

Key Points

• Fayez Sarofim & Co has acquired a new stake in MercadoLibre, purchasing 128 shares valued at approximately $250,000 in the first quarter.
• MercadoLibre has seen significant institutional interest, with holdings by firms like Mitsubishi UFJ Asset Management increasing by 12.2% during the same period, indicating strong investor confidence.
• The stock has an average price target of $2,795.00 according to analysts, with a consensus rating of "Moderate Buy" amid mixed earnings results in the latest quarter.

Fayez Sarofim & Co acquired a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 128 shares of the company's stock, valued at approximately $250,000.

Other hedge funds have also recently modified their holdings of the company. Key Financial Inc bought a new stake in shares of MercadoLibre during the 1st quarter valued at $25,000. GW&K Investment Management LLC bought a new stake in shares of MercadoLibre during the 1st quarter valued at $25,000. Park Square Financial Group LLC bought a new stake in shares of MercadoLibre during the 4th quarter valued at $26,000. Covestor Ltd bought a new stake in shares of MercadoLibre during the 4th quarter valued at $27,000. Finally, Close Asset Management Ltd grew its position in shares of MercadoLibre by 366.7% during the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company's stock valued at $27,000 after acquiring an additional 11 shares during the period. Institutional investors own 87.62% of the company's stock.

MercadoLibre Trading Up 0.8%

Shares of NASDAQ:MELI traded up $18.88 during trading on Friday, reaching $2,353.70. The company's stock had a trading volume of 303,477 shares, compared to its average volume of 345,695. 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 firm's 50 day simple moving average is $2,437.60 and its two-hundred day simple moving average is $2,244.85. The stock has a market capitalization of $119.33 billion, a PE ratio of 58.13, a price-to-earnings-growth ratio of 1.44 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing analysts' consensus estimates of $12.01 by ($1.70). MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The business had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.57 billion. During the same period in the previous year, the business posted $10.48 EPS. The firm's revenue was up 33.8% on a year-over-year basis. On average, research analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of MercadoLibre from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. Benchmark reaffirmed a "buy" rating and issued a $2,875.00 target price on shares of MercadoLibre in a report on Tuesday, August 5th. Barclays dropped their target price on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. UBS Group set a $3,000.00 target price on shares of MercadoLibre in a report on Monday, June 2nd. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of MercadoLibre in a report on Thursday, May 1st. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, MercadoLibre has a consensus rating of "Moderate Buy" and an average price target of $2,795.00.

MercadoLibre Company 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.