1,649 Shares in MercadoLibre, Inc. (NASDAQ:MELI) Acquired by ING Groep NV

Key Points

• ING Groep NV has acquired a new stake in MercadoLibre, purchasing 1,649 shares valued at approximately $3.22 million in the first quarter of the year.
• MercadoLibre's recent quarterly earnings report showed $10.31 EPS, missing estimates by $1.70, but its revenue increased by 33.8% year-over-year to $6.79 billion.
• Analysts have mixed ratings on MercadoLibre, with a consensus of "Moderate Buy" and an average price target of about $2,707.50 despite recent downgrades from some research firms.

ING Groep NV acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,649 shares of the company's stock, valued at approximately $3,217,000.

A number of other institutional investors have also recently made changes to their positions in MELI. Commonwealth Equity Services LLC raised its position in shares of MercadoLibre by 6.9% in the 1st quarter. Commonwealth Equity Services LLC now owns 8,985 shares of the company's stock valued at $17,529,000 after purchasing an additional 582 shares during the last quarter. Raiffeisen Bank International AG increased its holdings in shares of MercadoLibre by 5.2% during the 1st quarter. Raiffeisen Bank International AG now owns 2,691 shares of the company's stock worth $5,511,000 after buying an additional 132 shares during the last quarter. Haven Private LLC raised its stake in shares of MercadoLibre by 2.3% in the 1st quarter. Haven Private LLC now owns 613 shares of the company's stock valued at $1,196,000 after acquiring an additional 14 shares during the period. Blair William & Co. IL increased its stake in MercadoLibre by 13.7% during the first quarter. Blair William & Co. IL now owns 3,993 shares of the company's stock worth $7,789,000 after purchasing an additional 481 shares during the period. Finally, Blue Sky Capital Consultants Group Inc. increased its stake in shares of MercadoLibre by 5.6% during the first quarter. Blue Sky Capital Consultants Group Inc. now owns 1,553 shares of the company's stock worth $3,030,000 after buying an additional 83 shares during the period. Hedge funds and other institutional investors own 87.62% of the company's stock.

MercadoLibre Stock Performance

MELI traded up $18.88 during midday trading on Friday, hitting $2,353.70. 303,477 shares of the company traded hands, compared to its average volume of 345,695. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week 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 company's 50-day moving average is $2,437.60 and its 200 day moving average is $2,241.91. The firm has a market capitalization of $119.33 billion, a PE ratio of 58.13, a price-to-earnings-growth ratio of 1.43 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings results 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). MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The company had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.57 billion. During the same period in the prior year, the firm posted $10.48 EPS. The business's revenue for the quarter was up 33.8% on a year-over-year basis. On average, research analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on MELI shares. Jefferies Financial Group reaffirmed a "hold" rating and set a $2,800.00 price objective on shares of MercadoLibre in a report on Tuesday. Susquehanna reiterated a "positive" rating and issued a $2,975.00 price target (up from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. UBS Group set a $3,000.00 price objective on shares of MercadoLibre in a research note on Monday, June 2nd. Barclays reduced their price objective on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $2,700.00 price target on shares of MercadoLibre in a report on Tuesday. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $2,795.00.

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.