GQG Partners LLC Grows Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Key Points

• GQG Partners LLC increased its stake in MercadoLibre by 23.5%, owning a total of 461,875 shares, which represents 1.4% of its portfolio.
• Analysts have issued predominantly positive ratings for MercadoLibre, with a target price range between $2,750.00 and $3,000.00, indicating a market sentiment favoring further growth.
• MercadoLibre reported earnings of $10.31 per share for the recent quarter, missing estimates but achieving a revenue of $6.79 billion, up 33.8% year-over-year.

GQG Partners LLC lifted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 23.5% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 461,875 shares of the company's stock after buying an additional 87,912 shares during the quarter. MercadoLibre makes up 1.4% of GQG Partners LLC's holdings, making the stock its 27th largest holding. GQG Partners LLC owned 0.91% of MercadoLibre worth $901,058,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Key Financial Inc purchased a new stake in MercadoLibre in the 1st quarter worth $25,000. GW&K Investment Management LLC purchased a new stake in MercadoLibre in the 1st quarter worth $25,000. Park Square Financial Group LLC bought a new stake in shares of MercadoLibre in the 4th quarter worth about $26,000. Covestor Ltd bought a new stake in shares of MercadoLibre in the 4th quarter worth about $27,000. Finally, Close Asset Management Ltd increased its holdings in shares of MercadoLibre by 366.7% in the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company's stock worth $27,000 after buying an additional 11 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on MELI shares. Citigroup restated a "buy" rating on shares of MercadoLibre in a report on Friday, June 6th. Susquehanna restated a "positive" rating and issued a $2,975.00 target price (up from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. UBS Group set a $3,000.00 target price on shares of MercadoLibre in a report on Monday, June 2nd. Raymond James Financial restated a "strong-buy" rating and issued a $2,750.00 target price on shares of MercadoLibre in a report on Tuesday, August 5th. Finally, Benchmark restated a "buy" rating and issued a $2,875.00 target price on shares of MercadoLibre in a report on Tuesday, August 5th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $2,795.00.

MercadoLibre Price Performance

Shares of MELI stock opened at $2,350.83 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. The company has a market capitalization of $119.19 billion, a P/E ratio of 58.06, a P/E/G ratio of 1.46 and a beta of 1.46. The company's 50-day simple moving average is $2,426.54 and its two-hundred day simple moving average is $2,251.59. MercadoLibre, Inc. has a one year low of $1,646.00 and a one year high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $10.31 earnings per share for the quarter, missing the consensus estimate 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 analysts' expectations of $6.57 billion. During the same period in the previous year, the company posted $10.48 EPS. MercadoLibre's revenue for the quarter was up 33.8% on a year-over-year basis. As a group, equities analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current year.

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.

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