MercadoLibre, Inc. $MELI Stake Lifted by Freedom Investment Management Inc.

Key Points

• Freedom Investment Management Inc. increased its stake in MercadoLibre, Inc. by 86.3%, reaching a total position worth $1.14 million after acquiring 271 additional shares.
• Multiple institutional investors are actively enhancing their positions in MercadoLibre, including Banco Santander S.A., which raised its holdings by 221.9%, now valued at $5.36 million.
• Research analysts have set a range of price targets for MercadoLibre, with estimates varying from $2,850.00 by Citigroup to as high as $3,500.00 by Scotiabank, indicating a generally optimistic outlook.

Freedom Investment Management Inc. boosted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 86.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 585 shares of the company's stock after acquiring an additional 271 shares during the quarter. Freedom Investment Management Inc.'s holdings in MercadoLibre were worth $1,140,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in MELI. Bank Pictet & Cie Europe AG acquired a new position in shares of MercadoLibre in the fourth quarter valued at approximately $561,000. First Trust Advisors LP boosted its position in shares of MercadoLibre by 25.1% during the 4th quarter. First Trust Advisors LP now owns 13,004 shares of the company's stock worth $22,113,000 after acquiring an additional 2,609 shares in the last quarter. Integrated Wealth Concepts LLC boosted its holdings in MercadoLibre by 4.7% in the fourth quarter. Integrated Wealth Concepts LLC now owns 755 shares of the company's stock valued at $1,284,000 after purchasing an additional 34 shares in the last quarter. Virtus ETF Advisers LLC grew its position in shares of MercadoLibre by 3.7% in the 4th quarter. Virtus ETF Advisers LLC now owns 556 shares of the company's stock valued at $945,000 after buying an additional 20 shares during the last quarter. Finally, NZS Capital LLC grew its holdings in shares of MercadoLibre by 3.0% during the fourth quarter. NZS Capital LLC now owns 22,205 shares of the company's stock worth $37,758,000 after purchasing an additional 638 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Stock Performance

MELI traded up $58.86 during trading hours on Thursday, hitting $2,472.29. 373,052 shares of the stock were exchanged, compared to its average volume of 389,535. The stock has a market cap of $125.35 billion, a price-to-earnings ratio of 61.06, a price-to-earnings-growth ratio of 1.56 and a beta of 1.46. The stock has a 50-day simple moving average of $2,410.93 and a 200-day simple moving average of $2,282.38. 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 12 month low of $1,646.00 and a 12 month high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) 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 business had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.57 billion. During the same quarter in the previous year, the business posted $10.48 earnings per share. The company's quarterly revenue was up 33.8% compared to the same quarter last year. Analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Jefferies Financial Group reissued a "hold" rating and set a $2,800.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Morgan Stanley restated an "overweight" rating on shares of MercadoLibre in a research report on Thursday, May 1st. Susquehanna reissued a "positive" rating and issued a $2,975.00 price objective (up previously from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. Wedbush set a $2,700.00 price target on shares of MercadoLibre and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $2,750.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, MercadoLibre has an average rating of "Moderate Buy" and an average price target 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.