HighTower Advisors LLC Acquires 2,603 Shares of MercadoLibre, Inc. $MELI

Key Points

• HighTower Advisors LLC increased its holdings in MercadoLibre, Inc. by 49.5% in Q1, totaling 7,858 shares valued at approximately $15.3 million.
• Analysts have set a consensus target price of $2,795 for MercadoLibre, with the majority issuing buy ratings and three maintaining a hold rating.
• Despite reporting a missed EPS estimate of $10.31 for Q2, MercadoLibre's revenue increased by 33.8% year-over-year, reaching $6.79 billion.

HighTower Advisors LLC grew its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 49.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,858 shares of the company's stock after purchasing an additional 2,603 shares during the quarter. HighTower Advisors LLC's holdings in MercadoLibre were worth $15,329,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Capital Research Global Investors increased its position in shares of MercadoLibre by 8.0% during the fourth quarter. Capital Research Global Investors now owns 2,415,815 shares of the company's stock valued at $4,108,079,000 after acquiring an additional 179,807 shares during the last quarter. Capital World Investors increased its position in shares of MercadoLibre by 24.5% during the fourth quarter. Capital World Investors now owns 1,568,602 shares of the company's stock valued at $2,667,386,000 after acquiring an additional 308,973 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of MercadoLibre by 41.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company's stock valued at $2,370,848,000 after acquiring an additional 405,425 shares during the last quarter. Jennison Associates LLC increased its position in shares of MercadoLibre by 1.6% during the first quarter. Jennison Associates LLC now owns 1,154,116 shares of the company's stock valued at $2,251,531,000 after acquiring an additional 18,731 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of MercadoLibre by 22.4% during the first quarter. Invesco Ltd. now owns 570,967 shares of the company's stock valued at $1,113,881,000 after acquiring an additional 104,554 shares during the last quarter. Institutional investors own 87.62% of the company's stock.

MercadoLibre Trading Down 0.9%

Shares of NASDAQ MELI traded down $21.07 during midday trading on Tuesday, reaching $2,342.94. The company had a trading volume of 343,407 shares, compared to its average volume of 362,042. MercadoLibre, Inc. has a one year low of $1,646.00 and a one year high of $2,645.22. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. The firm's fifty day moving average price is $2,411.81 and its 200-day moving average price is $2,267.19. The stock has a market cap of $118.79 billion, a PE ratio of 57.86, a price-to-earnings-growth ratio of 1.50 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted 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). The company had revenue of $6.79 billion during the quarter, compared to analysts' expectations of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The business's quarterly revenue was up 33.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $10.48 EPS. On average, equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on MELI shares. Benchmark reissued a "buy" rating and issued a $2,875.00 target price on shares of MercadoLibre in a research report on Tuesday, August 5th. Scotiabank started coverage on MercadoLibre in a research report on Monday, July 28th. They issued a "sector outperform" rating and a $3,500.00 price target for the company. Susquehanna reiterated a "positive" rating and issued a $2,975.00 price target (up from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. Citigroup reduced their price target on MercadoLibre from $2,900.00 to $2,850.00 and set a "buy" rating for the company in a research report on Monday. Finally, Raymond James Financial reiterated a "strong-buy" rating and issued a $2,750.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $2,817.22.

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.