GF Fund Management CO. LTD. Has $19.30 Million Stake in MercadoLibre, Inc. (NASDAQ:MELI)

GF Fund Management CO. LTD. increased its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 2.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,891 shares of the company's stock after buying an additional 283 shares during the period. GF Fund Management CO. LTD.'s holdings in MercadoLibre were worth $19,296,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MELI. Park Square Financial Group LLC acquired a new position in MercadoLibre during the 4th quarter worth about $26,000. Covestor Ltd acquired a new position in MercadoLibre during the 4th quarter worth about $27,000. Heck Capital Advisors LLC acquired a new position in MercadoLibre during the 4th quarter worth about $32,000. VSM Wealth Advisory LLC acquired a new position in MercadoLibre during the 4th quarter worth about $37,000. Finally, E Fund Management Hong Kong Co. Ltd. lifted its position in 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 purchasing an additional 15 shares during the period. Institutional investors and hedge funds own 87.62% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. UBS Group set a $3,000.00 target price on shares of MercadoLibre in a research report on Monday, June 2nd. Wall Street Zen downgraded shares of MercadoLibre from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. Citigroup reissued a "buy" rating on shares of MercadoLibre in a research note on Friday, June 6th. Benchmark cut MercadoLibre from a "buy" rating to a "cautious" rating in a research note on Thursday, May 1st. Finally, Cantor Fitzgerald decreased their price target on shares of MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating for the company in a research note on Wednesday, June 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, MercadoLibre has a consensus rating of "Moderate Buy" and a consensus price target of $2,645.94.

MercadoLibre Price Performance

Shares of MELI stock traded up $34.98 on Friday, reaching $2,507.03. The company had a trading volume of 194,179 shares, compared to its average volume of 389,022. The stock has a market capitalization of $127.11 billion, a PE ratio of 61.66, a price-to-earnings-growth ratio of 1.49 and a beta of 1.49. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.57. MercadoLibre, Inc. has a one year low of $1,579.78 and a one year high of $2,645.22. The business's 50-day moving average is $2,469.05 and its 200 day moving average is $2,135.88.

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

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.