Annex Advisory Services LLC Increases Stock Holdings in MercadoLibre, Inc. $MELI

Key Points

• Annex Advisory Services LLC increased its stake in MercadoLibre by 28.0% during the second quarter, now holding nearly 20,000 shares valued at approximately $51.5 million.
• MercadoLibre reported earnings of $10.31 per share, which fell short of the estimated $12.01, while achieving revenue of $6.79 billion, surpassing expectations.
• Wall Street analysts maintain a generally positive outlook with a consensus price target of $2,817.22 for the stock, which is classified with mostly 'Buy' ratings.

Annex Advisory Services LLC raised its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 28.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,695 shares of the company's stock after purchasing an additional 4,307 shares during the period. MercadoLibre comprises 1.2% of Annex Advisory Services LLC's investment portfolio, making the stock its 24th biggest position. Annex Advisory Services LLC's holdings in MercadoLibre were worth $51,475,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Key Financial Inc acquired a new stake in MercadoLibre in the 1st quarter valued at about $25,000. GW&K Investment Management LLC acquired a new stake in MercadoLibre in the 1st quarter valued at about $25,000. Park Square Financial Group LLC acquired a new stake in MercadoLibre in the 4th quarter valued at about $26,000. Close Asset Management Ltd increased its holdings in shares of MercadoLibre by 366.7% in the 1st 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. Finally, Brooklyn Investment Group increased its holdings in shares of MercadoLibre by 650.0% in the 1st 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 last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on MELI shares. Susquehanna reiterated 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. Raymond James Financial reiterated a "strong-buy" rating and issued a $2,750.00 price objective on shares of MercadoLibre in a report on Tuesday, August 5th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $2,700.00 price objective on shares of MercadoLibre in a report on Tuesday, August 5th. Scotiabank started coverage on MercadoLibre in a report on Monday, July 28th. They issued a "sector outperform" rating and a $3,500.00 price objective on the stock. Finally, UBS Group set a $3,000.00 price objective on MercadoLibre in a report on Monday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $2,817.22.

MercadoLibre Stock Performance

NASDAQ:MELI traded up $42.61 during mid-day trading on Tuesday, reaching $2,503.27. 179,660 shares of the stock were exchanged, compared to its average volume of 389,340. The company has a 50 day simple moving average of $2,383.72 and a 200-day simple moving average of $2,323.05. MercadoLibre, Inc. has a 1 year low of $1,646.00 and a 1 year high of $2,645.22. The stock has a market capitalization of $126.92 billion, a P/E ratio of 61.62, a P/E/G ratio of 1.60 and a beta of 1.49. 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 for the quarter, missing the consensus estimate 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 analysts' expectations of $6.57 billion. During the same quarter last year, the business posted $10.48 earnings per share. The company's revenue for the quarter was up 33.8% compared to the same quarter last year. Analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal 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.