LGT Group Foundation Purchases 5,459 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Key Points

• LGT Group Foundation significantly increased its holdings in MercadoLibre, Inc. by 520.4%, acquiring an additional 5,459 shares during the first quarter, bringing its total to 6,508 shares valued at approximately $12.7 million.
• MercadoLibre reported earnings of $10.31 per share, missing analysts' expectations of $12.01, despite achieving a 33.8% year-over-year revenue growth to $6.79 billion.
• The stock currently has a consensus rating of "Moderate Buy" from analysts, with a target price averaging around $2,795 following recent adjustments from firms like Jefferies and JPMorgan Chase.

LGT Group Foundation raised its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 520.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,508 shares of the company's stock after buying an additional 5,459 shares during the quarter. LGT Group Foundation's holdings in MercadoLibre were worth $12,696,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Key Financial Inc purchased a new position in shares of MercadoLibre in the first quarter valued at $25,000. GW&K Investment Management LLC purchased a new position in shares of MercadoLibre in the first quarter valued at $25,000. Park Square Financial Group LLC purchased a new position in shares of MercadoLibre in the fourth quarter valued at $26,000. Covestor Ltd purchased a new position in shares of MercadoLibre in the fourth quarter valued at $27,000. Finally, Close Asset Management Ltd grew its position in shares of MercadoLibre by 366.7% in the first quarter. Close Asset Management Ltd now owns 14 shares of the company's stock valued at $27,000 after purchasing an additional 11 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Trading Down 2.6%

NASDAQ MELI opened at $2,292.04 on Tuesday. MercadoLibre, Inc. has a 1-year low of $1,646.00 and a 1-year high of $2,645.22. 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 50-day moving average of $2,431.57 and a 200-day moving average of $2,250.90. The firm has a market cap of $116.21 billion, a PE ratio of 56.61, a price-to-earnings-growth ratio of 1.47 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results 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 last year, the firm posted $10.48 EPS. The company's revenue was up 33.8% on a year-over-year basis. As a group, sell-side analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analyst Ratings Changes

MELI has been the subject of several recent analyst reports. Jefferies Financial Group restated a "hold" rating and set a $2,800.00 target price on shares of MercadoLibre in a research report on Tuesday, August 5th. Wedbush reduced their target price on MercadoLibre from $2,800.00 to $2,700.00 and set an "outperform" rating for the company in a research report on Tuesday, August 5th. JPMorgan Chase & Co. boosted their target price on MercadoLibre from $2,600.00 to $2,700.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Citigroup restated a "buy" rating on shares of MercadoLibre in a research report on Friday, June 6th. Finally, Daiwa Capital Markets initiated coverage on MercadoLibre in a research report on Friday, August 1st. They set a "buy" rating and a $3,000.00 target price for the company. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $2,795.00.

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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