IFM Investors Pty Ltd Grows Position in MercadoLibre, Inc. $MELI

Key Points

• IFM Investors Pty Ltd has increased its holdings in MercadoLibre, Inc. by 4.9%, bringing its total to 9,005 shares valued at approximately $23.54 million.
• MercadoLibre reported $10.31 earnings per share for the second quarter, missing expectations of $12.01, although revenue grew by 33.8% year-over-year to $6.79 billion.
• Analysts have set new price targets for MercadoLibre, with estimates ranging from $2,700 to $3,500, reflecting strong interest and an average rating of "Moderate Buy."

IFM Investors Pty Ltd increased its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 4.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,005 shares of the company's stock after purchasing an additional 424 shares during the period. IFM Investors Pty Ltd's holdings in MercadoLibre were worth $23,536,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in MELI. Bank Pictet & Cie Europe AG bought a new stake in MercadoLibre during the fourth quarter worth about $561,000. Bison Wealth LLC bought a new position in MercadoLibre in the fourth quarter valued at approximately $206,000. Vident Advisory LLC boosted its stake in MercadoLibre by 20.9% in the fourth quarter. Vident Advisory LLC now owns 289 shares of the company's stock valued at $491,000 after acquiring an additional 50 shares during the last quarter. Waverly Advisors LLC boosted its position in shares of MercadoLibre by 79.8% during the fourth quarter. Waverly Advisors LLC now owns 232 shares of the company's stock worth $394,000 after purchasing an additional 103 shares in the last quarter. Finally, Glen Eagle Advisors LLC boosted its position in shares of MercadoLibre by 10.8% during the fourth quarter. Glen Eagle Advisors LLC now owns 206 shares of the company's stock worth $350,000 after purchasing an additional 20 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

MercadoLibre Trading Down 1.0%

Shares of MercadoLibre stock traded down $24.03 on Friday, reaching $2,452.34. 416,882 shares of the company's stock were exchanged, compared to its average volume of 367,642. The company has a market capitalization of $124.33 billion, a P/E ratio of 60.57, a price-to-earnings-growth ratio of 1.60 and a beta of 1.49. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22. The firm's 50-day moving average is $2,382.11 and its two-hundred day moving average is $2,317.99. 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 (NASDAQ:MELI - Get Free Report) last issued 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 return on equity of 43.06% and a net margin of 8.52%.The firm 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 business earned $10.48 earnings per share. MercadoLibre's revenue for the quarter was up 33.8% on a year-over-year basis. Sell-side analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Citigroup dropped their price objective on shares of MercadoLibre from $2,900.00 to $2,850.00 and set a "buy" rating on the stock in a report on Monday, August 18th. Barclays dropped their price objective on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. Susquehanna restated a "positive" rating and set a $2,975.00 price objective (up from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. Benchmark reiterated a "buy" rating and issued a $2,875.00 price target on shares of MercadoLibre in a research note on Tuesday, August 5th. Finally, Scotiabank initiated coverage on shares of MercadoLibre in a research note on Monday, July 28th. They set a "sector outperform" rating and a $3,500.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, MercadoLibre has an average rating of "Moderate Buy" and a consensus price target of $2,817.22.

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.