Legato Capital Management LLC Acquires 1,568 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Legato Capital Management LLC grew its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 111.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,980 shares of the company's stock after purchasing an additional 1,568 shares during the period. MercadoLibre makes up approximately 0.8% of Legato Capital Management LLC's holdings, making the stock its 13th largest holding. Legato Capital Management LLC's holdings in MercadoLibre were worth $5,814,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Venturi Wealth Management LLC boosted its holdings in shares of MercadoLibre by 10.0% in the 1st quarter. Venturi Wealth Management LLC now owns 1,553 shares of the company's stock worth $3,030,000 after acquiring an additional 141 shares in the last quarter. Granite Group Advisors LLC acquired a new position in shares of MercadoLibre in the 1st quarter worth approximately $220,000. First National Bank of Hutchinson boosted its holdings in shares of MercadoLibre by 11.6% in the 1st quarter. First National Bank of Hutchinson now owns 259 shares of the company's stock worth $505,000 after acquiring an additional 27 shares in the last quarter. Sustainable Growth Advisers LP boosted its holdings in shares of MercadoLibre by 9.2% in the 1st quarter. Sustainable Growth Advisers LP now owns 151,317 shares of the company's stock worth $295,200,000 after acquiring an additional 12,783 shares in the last quarter. Finally, KLP Kapitalforvaltning AS boosted its holdings in shares of MercadoLibre by 0.6% in the 1st quarter. KLP Kapitalforvaltning AS now owns 15,500 shares of the company's stock worth $30,238,000 after acquiring an additional 100 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Stock Down 1.3%

MELI stock traded down $31.99 during trading hours on Friday, reaching $2,359.06. 242,921 shares of the stock were exchanged, compared to its average volume of 393,460. The firm's 50-day moving average is $2,480.35 and its 200-day moving average is $2,198.06. The company has a market cap of $119.60 billion, a price-to-earnings ratio of 58.02, a PEG ratio of 1.42 and a beta of 1.49. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.20 and a quick ratio of 1.18. MercadoLibre, Inc. has a 12 month low of $1,579.78 and a 12 month high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, topping analysts' consensus estimates of $7.82 by $1.92. MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. The company had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.55 billion. During the same period in the prior year, the business posted $6.78 EPS. The company's quarterly revenue was up 37.0% on a year-over-year basis. On average, equities research analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

MELI has been the topic of several recent analyst reports. The Goldman Sachs Group boosted their target price on MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. Citigroup reaffirmed a "buy" rating on shares of MercadoLibre in a report on Friday, June 6th. Wall Street Zen downgraded MercadoLibre from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. Benchmark downgraded MercadoLibre from a "buy" rating to a "cautious" rating in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. upped their price objective on MercadoLibre from $2,250.00 to $2,600.00 and gave the stock a "neutral" rating in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, MercadoLibre has a consensus rating of "Moderate Buy" and an average price target of $2,639.69.

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.