Jones Financial Companies Lllp Raises Stake in MercadoLibre, Inc. $MELI

Key Points

• Jones Financial Companies increased its MercadoLibre stake by 25.2% in the second quarter, purchasing 2,501 additional shares for a total holding of 12,426 shares valued at approximately $20.8 million. Institutional investors collectively own 87.62% of MELI.
• MercadoLibre beat quarterly expectations, reporting $9.19 in earnings per share versus the $8.65 estimate and $10.17 billion in revenue, up 49.8% year over year.
• Analysts maintain a generally positive outlook, with 11 Buy ratings and six Holds producing a consensus “Moderate Buy” rating and an average price target of $2,272.

Jones Financial Companies Lllp increased its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 25.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,426 shares of the company's stock after buying an additional 2,501 shares during the quarter. Jones Financial Companies Lllp's holdings in MercadoLibre were worth $20,815,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Interchange Capital Partners LLC increased its stake in shares of MercadoLibre by 2.1% in the fourth quarter. Interchange Capital Partners LLC now owns 243 shares of the company's stock worth $490,000 after acquiring an additional 5 shares during the period. Cornerstone Select Advisors LLC raised its holdings in shares of MercadoLibre by 2.9% during the fourth quarter. Cornerstone Select Advisors LLC now owns 176 shares of the company's stock worth $355,000 after purchasing an additional 5 shares during the last quarter. Mitchell Capital Management Co. raised its holdings in shares of MercadoLibre by 0.4% during the fourth quarter. Mitchell Capital Management Co. now owns 1,262 shares of the company's stock worth $2,542,000 after purchasing an additional 5 shares during the last quarter. Strategic Advisors LLC lifted its position in MercadoLibre by 0.4% during the fourth quarter. Strategic Advisors LLC now owns 1,273 shares of the company's stock valued at $2,564,000 after purchasing an additional 5 shares during the period. Finally, Laird Norton Wetherby Wealth Management LLC lifted its position in MercadoLibre by 2.0% during the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 259 shares of the company's stock valued at $605,000 after purchasing an additional 5 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Up 1.3%

Shares of MELI opened at $1,947.90 on Tuesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,548.50. The stock has a market capitalization of $98.75 billion, a price-to-earnings ratio of 52.98, a PEG ratio of 1.32 and a beta of 1.34. The stock has a 50 day moving average price of $1,799.08 and a 200 day moving average price of $1,772.26.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $9.19 earnings per share for the quarter, beating analysts' consensus estimates of $8.65 by $0.54. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same quarter last year, the firm posted $10.31 EPS. The firm's revenue for the quarter was up 49.8% on a year-over-year basis. Equities research analysts forecast that MercadoLibre, Inc. will post 39.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MELI has been the topic of several analyst reports. Zacks Research raised MercadoLibre from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. JPMorgan Chase & Co. boosted their price objective on MercadoLibre from $1,900.00 to $2,150.00 and gave the company a "neutral" rating in a report on Tuesday, August 11th. Citigroup boosted their price objective on MercadoLibre from $1,950.00 to $2,000.00 and gave the company a "neutral" rating in a report on Wednesday, July 15th. Benchmark lowered their target price on MercadoLibre from $2,780.00 to $2,380.00 and set a "buy" rating on the stock in a research note on Friday, May 8th. Finally, Scotiabank dropped their target price on MercadoLibre from $3,500.00 to $2,800.00 and set a "sector outperform" rating on the stock in a report on Thursday, May 7th. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $2,272.00.

About MercadoLibre

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.

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