LPL Financial LLC Boosts Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Key Points

• LPL Financial LLC has increased its holdings in MercadoLibre, Inc. by 13.5%, owning approximately 44,837 shares valued at $87.47 million as of its most recent SEC filing.
• MercadoLibre reported $9.74 earnings per share for the quarter, exceeding analysts' expectations of $7.82, with a significant revenue growth of 37.0% year-over-year.
• Institutional investors hold about 87.62% of MercadoLibre's stock, reflecting strong interest from hedge funds and investment firms.

LPL Financial LLC increased its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 13.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,837 shares of the company's stock after buying an additional 5,347 shares during the period. LPL Financial LLC owned 0.09% of MercadoLibre worth $87,472,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. RWC Asset Management LLP boosted its stake in MercadoLibre by 4.3% during the 1st quarter. RWC Asset Management LLP now owns 12,668 shares of the company's stock valued at $24,714,000 after purchasing an additional 527 shares during the last quarter. RWC Asset Advisors US LLC boosted its stake in MercadoLibre by 13.9% during the 1st quarter. RWC Asset Advisors US LLC now owns 24,560 shares of the company's stock valued at $47,913,000 after purchasing an additional 3,005 shares during the last quarter. Inspire Advisors LLC acquired a new position in MercadoLibre during the 1st quarter valued at about $597,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in MercadoLibre by 14.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,192 shares of the company's stock valued at $53,048,000 after purchasing an additional 3,518 shares during the last quarter. Finally, Allen Investment Management LLC boosted its stake in MercadoLibre by 19.6% during the 1st quarter. Allen Investment Management LLC now owns 36,706 shares of the company's stock valued at $71,609,000 after purchasing an additional 6,016 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MELI has been the subject of a number of analyst reports. Scotiabank initiated coverage on MercadoLibre in a research note on Monday. They set a "sector outperform" rating and a $3,500.00 price target for the company. Daiwa Capital Markets assumed coverage on shares of MercadoLibre in a report on Friday. They issued a "buy" rating and a $3,000.00 price target on the stock. Morgan Stanley reaffirmed an "overweight" rating on shares of MercadoLibre in a report on Thursday, May 1st. Citigroup reaffirmed a "buy" rating on shares of MercadoLibre in a report on Friday, June 6th. Finally, Wall Street Zen cut shares of MercadoLibre from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $2,707.50.

MercadoLibre Stock Performance

MELI stock traded up $6.33 during midday trading on Friday, reaching $2,380.22. 53,865 shares of the company's stock traded hands, compared to its average volume of 386,826. The company has a 50-day moving average price of $2,458.47 and a two-hundred day moving average price of $2,219.50. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.18 and a current ratio of 1.20. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22. The firm has a market capitalization of $120.68 billion, a PE ratio of 58.62, a price-to-earnings-growth ratio of 1.42 and a beta of 1.49.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $5.55 billion. During the same period in the previous year, the business earned $6.78 earnings per share. The firm's quarterly revenue was up 37.0% compared to the same quarter last year. As a group, equities analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current year.

MercadoLibre 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.