Invesco Ltd. Purchases 104,554 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Key Points

• Invesco Ltd. has increased its holdings in MercadoLibre by 22.4%, acquiring an additional 104,554 shares, bringing its total ownership to 570,967 shares worth approximately $1.11 billion.
• MercadoLibre's stock has shown significant growth, up almost 300% over the past two years, and currently has a market cap of $119.33 billion.
• Despite missing earnings estimates with $10.31 EPS compared to the expected $12.01, the company's revenue of $6.79 billion exceeded analysts’ expectations, marking a 33.8% year-over-year increase.

Invesco Ltd. increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 22.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 570,967 shares of the company's stock after acquiring an additional 104,554 shares during the quarter. Invesco Ltd. owned about 1.13% of MercadoLibre worth $1,113,881,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of MELI. Bank Pictet & Cie Europe AG acquired a new position in MercadoLibre during the 4th quarter valued at approximately $561,000. Cerity Partners LLC boosted its holdings in shares of MercadoLibre by 1.0% in the 4th quarter. Cerity Partners LLC now owns 4,926 shares of the company's stock valued at $8,948,000 after acquiring an additional 51 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of MercadoLibre by 17.1% in the 4th quarter. Bank of Montreal Can now owns 18,809 shares of the company's stock valued at $31,984,000 after acquiring an additional 2,750 shares during the last quarter. Scotia Capital Inc. boosted its holdings in shares of MercadoLibre by 124.6% in the 4th quarter. Scotia Capital Inc. now owns 584 shares of the company's stock valued at $993,000 after acquiring an additional 324 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its holdings in shares of MercadoLibre by 139.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 599 shares of the company's stock valued at $1,019,000 after acquiring an additional 349 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Stock Performance

MELI opened at $2,353.70 on Friday. 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 has a market cap of $119.33 billion, a price-to-earnings ratio of 58.13, a PEG ratio of 1.43 and a beta of 1.46. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week high of $2,645.22. The firm's fifty day simple moving average is $2,437.60 and its two-hundred day simple moving average is $2,241.91.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted 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 company had revenue of $6.79 billion for the quarter, compared to analysts' expectations of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The business'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 earnings per share. Equities analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MELI has been the topic of several recent research reports. Daiwa Capital Markets initiated coverage on shares of MercadoLibre in a report on Friday, August 1st. They issued a "buy" rating and a $3,000.00 price objective on the stock. Jefferies Financial Group reaffirmed a "hold" rating and issued a $2,800.00 price objective on shares of MercadoLibre in a report on Tuesday. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $2,700.00 price objective on shares of MercadoLibre in a report on Tuesday. Wall Street Zen downgraded shares of MercadoLibre from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. Finally, JPMorgan Chase & Co. upped their price objective on shares of MercadoLibre from $2,600.00 to $2,700.00 and gave the company a "neutral" rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average 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.

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