Generate Investment Management Ltd Makes New Investment in MercadoLibre, Inc. (NASDAQ:MELI)

Generate Investment Management Ltd bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,167 shares of the company's stock, valued at approximately $8,129,000.

Other hedge funds have also recently bought and sold shares of the company. Park Square Financial Group LLC acquired a new position in shares of MercadoLibre in the 4th quarter valued at $26,000. Covestor Ltd acquired a new position in shares of MercadoLibre in the fourth quarter worth $27,000. Heck Capital Advisors LLC purchased a new position in MercadoLibre in the fourth quarter valued at about $32,000. VSM Wealth Advisory LLC acquired a new position in MercadoLibre in the 4th quarter worth about $37,000. Finally, E Fund Management Hong Kong Co. Ltd. lifted its holdings in shares of MercadoLibre by 375.0% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 19 shares of the company's stock valued at $37,000 after buying an additional 15 shares during the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Price Performance

Shares of MELI traded up $19.70 during trading hours on Thursday, hitting $2,560.20. The stock had a trading volume of 326,748 shares, compared to its average volume of 387,158. The stock has a market capitalization of $129.80 billion, a price-to-earnings ratio of 62.97, a P/E/G ratio of 1.51 and a beta of 1.51. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.20 and a quick ratio of 1.18. The company's fifty day moving average is $2,413.70 and its two-hundred day moving average is $2,099.89. MercadoLibre, Inc. has a 52 week low of $1,563.21 and a 52 week high of $2,635.88.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.82 by $1.92. MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. The business had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.55 billion. During the same quarter in the prior year, the company earned $6.78 EPS. The firm's quarterly revenue was up 37.0% on a year-over-year basis. On average, analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on MELI shares. Cantor Fitzgerald dropped their price objective on MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating on the stock in a report on Wednesday, June 11th. Barclays boosted their price objective on MercadoLibre from $2,500.00 to $3,100.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Morgan Stanley restated an "overweight" rating on shares of MercadoLibre in a research report on Thursday, May 1st. The Goldman Sachs Group boosted their price objective on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. Finally, Citigroup reiterated a "buy" rating on shares of MercadoLibre in a research note on Friday, June 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $2,645.94.

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.