Johnson Investment Counsel Inc. Purchases New Shares in MercadoLibre, Inc. $MELI

Key Points

• Johnson Investment Counsel Inc. acquired a new stake in MercadoLibre, Inc., purchasing 162 shares valued at approximately $423,000 in Q2.
• MercadoLibre's stock is currently down 5.1% with a recent trading price of $2,048.35 and a significant market cap of $103.85 billion.
• The company reported $10.31 earnings per share for the quarter, missing analysts' expectations of $12.01, despite a year-over-year revenue increase of 33.8%.

Johnson Investment Counsel Inc. purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 162 shares of the company's stock, valued at approximately $423,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Key Financial Inc acquired a new position in shares of MercadoLibre in the 1st quarter valued at $25,000. GW&K Investment Management LLC acquired a new position in shares of MercadoLibre in the 1st quarter valued at $25,000. Close Asset Management Ltd boosted its position in MercadoLibre by 366.7% during the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company's stock worth $27,000 after acquiring an additional 11 shares during the period. Brooklyn Investment Group boosted its position in MercadoLibre by 650.0% during the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company's stock worth $29,000 after acquiring an additional 13 shares during the period. Finally, Twin Tree Management LP acquired a new stake in MercadoLibre during the 1st quarter worth about $29,000. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Stock Down 5.1%

Shares of MELI stock opened at $2,048.35 on Thursday. The stock's 50 day simple moving average is $2,348.72 and its 200 day simple moving average is $2,345.35. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. MercadoLibre, Inc. has a twelve month low of $1,646.00 and a twelve month high of $2,645.22. The company has a market capitalization of $103.85 billion, a price-to-earnings ratio of 50.59, a PEG ratio of 1.46 and a beta of 1.46.

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Citigroup decreased their price objective on MercadoLibre from $2,850.00 to $2,700.00 and set a "buy" rating for the company in a research report on Thursday, October 9th. Scotiabank assumed coverage on MercadoLibre in a research report on Monday, July 28th. They set a "sector outperform" rating and a $3,500.00 price objective for the company. Wall Street Zen lowered MercadoLibre from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. Raymond James Financial restated a "strong-buy" rating and set a $2,750.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 5th. Finally, Barclays decreased their price objective on MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating for the company in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $2,810.88.

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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