Matthews International Capital Management LLC Buys 202 Shares of MercadoLibre, Inc. $MELI

Key Points

• Matthews International Capital Management LLC has increased its stake in MercadoLibre, Inc. by 13.7%, now owning 1,681 shares worth approximately $4.39 million.
• Several large investors are also actively buying and selling MercadoLibre shares, indicating strong institutional interest, with 87.62% of the stock owned by institutional investors.
• Analysts have mixed ratings on MercadoLibre, with a consensus rating of "Moderate Buy" and a price target of $2,822.78, while the stock recently opened at $2,172.75.

Matthews International Capital Management LLC raised its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 13.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,681 shares of the company's stock after purchasing an additional 202 shares during the period. MercadoLibre accounts for approximately 1.0% of Matthews International Capital Management LLC's investment portfolio, making the stock its 22nd biggest position. Matthews International Capital Management LLC's holdings in MercadoLibre were worth $4,394,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of MELI. Key Financial Inc bought a new position in shares of MercadoLibre in the 1st quarter worth about $25,000. GW&K Investment Management LLC bought a new position in shares of MercadoLibre in the 1st quarter worth about $25,000. Close Asset Management Ltd raised its position in shares of MercadoLibre by 366.7% in the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company's stock worth $27,000 after acquiring an additional 11 shares in the last quarter. Highline Wealth Partners LLC raised its position in shares of MercadoLibre by 366.7% in the 2nd quarter. Highline Wealth Partners LLC now owns 14 shares of the company's stock worth $37,000 after acquiring an additional 11 shares in the last quarter. Finally, Brooklyn Investment Group raised its position in shares of MercadoLibre by 650.0% in the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company's stock worth $29,000 after acquiring an additional 13 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MELI has been the subject of several research analyst reports. Daiwa Capital Markets initiated coverage on MercadoLibre in a research report on Friday, August 1st. They issued a "buy" rating and a $3,000.00 price objective for the company. Wall Street Zen lowered MercadoLibre from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. Scotiabank initiated coverage on MercadoLibre in a research report on Monday, July 28th. They issued a "sector outperform" rating and a $3,500.00 price objective for the company. Weiss Ratings reissued a "buy (b)" rating on shares of MercadoLibre in a research report on Saturday, September 27th. Finally, Cantor Fitzgerald lifted their price objective on MercadoLibre from $2,700.00 to $2,900.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $2,822.78.

MercadoLibre Price Performance

MELI stock opened at $2,172.75 on Friday. The company has a market capitalization of $110.16 billion, a P/E ratio of 53.66, a price-to-earnings-growth ratio of 1.49 and a beta of 1.46. The company has a debt-to-equity ratio of 0.61, 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 business has a 50-day simple moving average of $2,382.29 and a two-hundred day simple moving average of $2,341.63.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly 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). The company had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. MercadoLibre's revenue for the quarter was up 33.8% on a year-over-year basis. During the same quarter last year, the firm posted $10.48 EPS. Research analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

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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