MercadoLibre, Inc. $MELI is Bender Robert & Associates' 4th Largest Position

Key Points

• Bender Robert & Associates holds approximately 7.1% of its portfolio in MercadoLibre, Inc. ($MELI), making it the firm's 4th largest position with valued holdings of $31,988,000.
• Despite reporting a missed earnings per share of $10.31, MercadoLibre achieved a revenue of $6.79 billion, surpassing estimates, and experienced a year-over-year growth of 33.8%.
• Analysts have set a consensus price target of $2,814.44 for MercadoLibre, with a majority rating of "Moderate Buy".

Bender Robert & Associates trimmed its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 1.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,239 shares of the company's stock after selling 148 shares during the period. MercadoLibre accounts for approximately 7.1% of Bender Robert & Associates' holdings, making the stock its 4th largest holding. Bender Robert & Associates' holdings in MercadoLibre were worth $31,988,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of MELI. Key Financial Inc acquired a new position in MercadoLibre during the first quarter worth approximately $25,000. GW&K Investment Management LLC acquired a new stake in shares of MercadoLibre during the 1st quarter worth $25,000. Close Asset Management Ltd boosted its holdings in 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 acquiring an additional 11 shares during the last quarter. Brooklyn Investment Group grew its position in MercadoLibre by 650.0% during the first quarter. Brooklyn Investment Group now owns 15 shares of the company's stock valued at $29,000 after acquiring an additional 13 shares during the period. Finally, Twin Tree Management LP acquired a new stake in MercadoLibre during the first quarter worth about $29,000. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Stock Performance

MercadoLibre stock opened at $2,275.00 on Friday. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week 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 market cap of $115.34 billion, a P/E ratio of 56.19, a price-to-earnings-growth ratio of 1.46 and a beta of 1.46. The stock has a 50 day moving average of $2,368.34 and a 200-day moving average of $2,344.62.

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Weiss Ratings reiterated a "buy (b)" rating on shares of MercadoLibre in a report on Wednesday. Jefferies Financial Group reiterated a "hold" rating and set a $2,800.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. Cantor Fitzgerald raised their target price on shares of MercadoLibre from $2,700.00 to $2,900.00 and gave the company an "overweight" rating in a research note on Wednesday, September 24th. Scotiabank assumed coverage on shares of MercadoLibre in a research report on Monday, July 28th. They set a "sector outperform" rating and a $3,500.00 price target for the company. Finally, Citigroup lowered their price target on MercadoLibre from $2,850.00 to $2,700.00 and set a "buy" rating for the company in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $2,814.44.

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.

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