Ieq Capital LLC Raises Stock Position in MercadoLibre, Inc. $MELI

Key Points

• Ieq Capital LLC increased its holdings in MercadoLibre, Inc. by 16.9% in the first quarter, acquiring an additional 317 shares, bringing its total to 2,195 shares valued at approximately $4.28 million.
• MercadoLibre reported earnings per share (EPS) of $10.31 in its last quarterly earnings, missing expectations by $1.70, while revenue rose to $6.79 billion, exceeding estimates.
• According to analysts, MercadoLibre holds a consensus rating of "Moderate Buy" with a target price of $2,817.22, despite Citigroup recently lowering its price objective from $2,900 to $2,850.

Ieq Capital LLC grew its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 16.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,195 shares of the company's stock after buying an additional 317 shares during the quarter. Ieq Capital LLC's holdings in MercadoLibre were worth $4,282,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of MELI. Meiji Yasuda Life Insurance Co lifted its position in MercadoLibre by 0.5% during the fourth quarter. Meiji Yasuda Life Insurance Co now owns 999 shares of the company's stock valued at $1,699,000 after purchasing an additional 5 shares in the last quarter. Formidable Asset Management LLC lifted its position in MercadoLibre by 3.2% during the fourth quarter. Formidable Asset Management LLC now owns 160 shares of the company's stock valued at $272,000 after purchasing an additional 5 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in MercadoLibre by 4.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 118 shares of the company's stock valued at $201,000 after purchasing an additional 5 shares in the last quarter. Sonora Investment Management Group LLC lifted its position in MercadoLibre by 3.1% during the first quarter. Sonora Investment Management Group LLC now owns 168 shares of the company's stock valued at $328,000 after purchasing an additional 5 shares in the last quarter. Finally, Beacon Capital Management LLC lifted its position in MercadoLibre by 8.3% during the first quarter. Beacon Capital Management LLC now owns 65 shares of the company's stock valued at $127,000 after purchasing an additional 5 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

MercadoLibre Trading Up 0.0%

Shares of NASDAQ:MELI traded up $0.62 during trading on Monday, reaching $2,472.91. The company's stock had a trading volume of 292,481 shares, compared to its average volume of 386,617. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $125.38 billion, a PE ratio of 61.07, a price-to-earnings-growth ratio of 1.61 and a beta of 1.49. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22. The firm's 50 day simple moving average is $2,414.10 and its two-hundred day simple moving average is $2,294.36.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $12.01 by ($1.70). The firm had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The firm's revenue for the quarter was up 33.8% on a year-over-year basis. During the same period in the previous year, the business earned $10.48 EPS. On average, research analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on MELI. Susquehanna reiterated a "positive" rating and set a $2,975.00 target price (up from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. Scotiabank initiated coverage on MercadoLibre in a research report on Monday, July 28th. They set a "sector outperform" rating and a $3,500.00 target price on the stock. Raymond James Financial reiterated a "strong-buy" rating and issued a $2,750.00 price target on shares of MercadoLibre in a research note on Tuesday, August 5th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $2,700.00 price target on shares of MercadoLibre in a research note on Tuesday, August 5th. Finally, UBS Group set a $3,000.00 price target on MercadoLibre in a research note on Monday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, MercadoLibre presently has an average rating of "Moderate Buy" and a consensus target price 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.