LGT Fund Management Co Ltd. Purchases 670 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Key Points

• LGT Fund Management Co Ltd. increased its stake in MercadoLibre, Inc. by 186.1% in Q1, owning a total of 1,030 shares valued at approximately $2,009,000.
• Following recent quarterly results, MercadoLibre reported $10.31 EPS, which missed expectations, but saw revenues of $6.79 billion, exceeding analyst predictions.
• Analysts have recently set new price targets for MercadoLibre, with Goldman Sachs raising its price objective from $2,640 to $3,000, reflecting a positive outlook on the stock.

LGT Fund Management Co Ltd. increased its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 186.1% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 1,030 shares of the company's stock after acquiring an additional 670 shares during the period. LGT Fund Management Co Ltd.'s holdings in MercadoLibre were worth $2,009,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital International Investors increased its holdings in shares of MercadoLibre by 38.7% in the 4th quarter. Capital International Investors now owns 1,687,114 shares of the company's stock valued at $2,868,869,000 after acquiring an additional 470,829 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in MercadoLibre by 41.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company's stock worth $2,370,848,000 after acquiring an additional 405,425 shares during the period. Capital World Investors boosted its position in MercadoLibre by 24.5% during the 4th quarter. Capital World Investors now owns 1,568,602 shares of the company's stock worth $2,667,386,000 after acquiring an additional 308,973 shares during the period. Capital Research Global Investors lifted its holdings in shares of MercadoLibre by 8.0% in the fourth quarter. Capital Research Global Investors now owns 2,415,815 shares of the company's stock valued at $4,108,079,000 after buying an additional 179,807 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of MercadoLibre by 170.9% in the first quarter. Assenagon Asset Management S.A. now owns 274,960 shares of the company's stock valued at $536,411,000 after buying an additional 173,449 shares during the period. 87.62% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MELI has been the subject of several analyst reports. JPMorgan Chase & Co. upped their target price on MercadoLibre from $2,600.00 to $2,700.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. UBS Group set a $3,000.00 target price on MercadoLibre in a research report on Monday, June 2nd. Morgan Stanley reiterated an "overweight" rating on shares of MercadoLibre in a research note on Thursday, May 1st. Cantor Fitzgerald restated an "overweight" rating and set a $2,700.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. Finally, Daiwa Capital Markets assumed coverage on MercadoLibre in a research note on Friday, August 1st. They set a "buy" rating and a $3,000.00 target price for the company. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $2,795.00.

MercadoLibre Trading Up 0.4%

Shares of NASDAQ:MELI traded up $9.26 during midday trading on Thursday, hitting $2,336.56. The company had a trading volume of 20,623 shares, compared to its average volume of 392,842. The firm has a fifty day simple moving average of $2,421.61 and a 200 day simple moving average of $2,252.11. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. The stock has a market cap of $118.46 billion, a price-to-earnings ratio of 57.74, a PEG ratio of 1.49 and a beta of 1.46. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $10.31 earnings per share for the quarter, missing the consensus estimate of $12.01 by ($1.70). The business had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%. The business's revenue was up 33.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $10.48 earnings per share. On average, analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current year.

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.