Maridea Wealth Management LLC purchased a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 158 shares of the company's stock, valued at approximately $413,000.
Several other large investors have also recently added to or reduced their stakes in MELI. Assenagon Asset Management S.A. raised its holdings in shares of MercadoLibre by 170.9% during the first quarter. Assenagon Asset Management S.A. now owns 274,960 shares of the company's stock worth $536,411,000 after purchasing an additional 173,449 shares during the period. Invesco Ltd. grew its position in shares of MercadoLibre by 22.4% during the 1st quarter. Invesco Ltd. now owns 570,967 shares of the company's stock valued at $1,113,881,000 after buying an additional 104,554 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in MercadoLibre by 21.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company's stock worth $1,073,823,000 after acquiring an additional 96,283 shares during the period. GQG Partners LLC lifted its holdings in MercadoLibre by 23.5% in the first quarter. GQG Partners LLC now owns 461,875 shares of the company's stock worth $901,058,000 after acquiring an additional 87,912 shares during the last quarter. Finally, Nuveen LLC acquired a new position in MercadoLibre in the first quarter valued at approximately $143,367,000. 87.62% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on MELI. Wedbush set a $2,700.00 price target on MercadoLibre and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. UBS Group set a $3,000.00 target price on MercadoLibre in a research report on Monday, June 2nd. Barclays reduced their price target on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. Susquehanna reaffirmed a "positive" rating and issued a $2,975.00 price objective (up previously from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. Finally, Daiwa Capital Markets initiated coverage on shares of MercadoLibre in a research report on Friday, August 1st. They issued a "buy" rating and a $3,000.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, MercadoLibre currently has an average rating of "Moderate Buy" and an average price target of $2,828.33.
View Our Latest Research Report on MELI
MercadoLibre Price Performance
Shares of NASDAQ MELI opened at $2,492.25 on Friday. The stock has a market cap of $126.36 billion, a P/E ratio of 61.55, a P/E/G ratio of 1.63 and a beta of 1.49. The firm's 50-day simple moving average is $2,390.74 and its 200 day simple moving average is $2,329.30. MercadoLibre, Inc. has a fifty-two week low of $1,646.00 and a fifty-two week high of $2,645.22. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61.
MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) 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 quarter in the prior year, the company earned $10.48 EPS. The business's quarterly revenue was up 33.8% on a year-over-year basis. Equities analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.
About MercadoLibre
(
Free Report)
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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