State of Wyoming Raises Position in MercadoLibre, Inc. $MELI

Key Points

• The State of Wyoming increased its stake in MercadoLibre by 23.6%, owning 855 shares valued at approximately $1.67 million as of the latest reporting period.
• MercadoLibre reported a 33.8% increase in quarterly revenue, reaching $6.79 billion, although it fell short of EPS expectations by $1.70.
• Analysts have set price targets for MercadoLibre, with a consensus target of $2,817.22 and a majority rating it as a "Moderate Buy".

State of Wyoming raised its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 23.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 855 shares of the company's stock after purchasing an additional 163 shares during the period. State of Wyoming's holdings in MercadoLibre were worth $1,668,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Gerber Kawasaki Wealth & Investment Management grew its position in shares of MercadoLibre by 8.2% during the first quarter. Gerber Kawasaki Wealth & Investment Management now owns 318 shares of the company's stock valued at $620,000 after purchasing an additional 24 shares in the last quarter. Itau Unibanco Holding S.A. grew its position in shares of MercadoLibre by 99.3% during the first quarter. Itau Unibanco Holding S.A. now owns 25,032 shares of the company's stock valued at $47,435,000 after purchasing an additional 12,473 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ grew its position in shares of MercadoLibre by 1.3% during the first quarter. Lansforsakringar Fondforvaltning AB publ now owns 29,969 shares of the company's stock valued at $58,466,000 after purchasing an additional 390 shares in the last quarter. OMERS ADMINISTRATION Corp grew its position in shares of MercadoLibre by 1.7% during the first quarter. OMERS ADMINISTRATION Corp now owns 3,259 shares of the company's stock valued at $6,358,000 after purchasing an additional 55 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. AG grew its position in shares of MercadoLibre by 18.5% during the first quarter. B. Metzler seel. Sohn & Co. AG now owns 13,935 shares of the company's stock valued at $27,185,000 after purchasing an additional 2,180 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.

MercadoLibre Trading Up 0.0%

MercadoLibre stock traded up $0.62 during midday trading on Monday, reaching $2,472.91. The stock had a trading volume of 292,481 shares, compared to its average volume of 386,617. The firm has a market cap of $125.38 billion, a price-to-earnings ratio of 61.07, a price-to-earnings-growth ratio of 1.61 and a beta of 1.49. The company has a fifty day moving average of $2,413.70 and a 200 day moving average of $2,291.82. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-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 issued its earnings results on Monday, August 4th. The company reported $10.31 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 for the quarter, compared to analysts' expectations of $6.57 billion. During the same period last year, the business posted $10.48 earnings per share. The business's revenue was up 33.8% compared to the same quarter last year. On average, analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MELI has been the subject of a number of research analyst reports. Barclays cut their price objective on MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating for the company in a research report on Wednesday, July 23rd. Raymond James Financial restated a "strong-buy" rating and set a $2,750.00 target price on shares of MercadoLibre in a research report on Tuesday, August 5th. Wedbush set a $2,700.00 target price on shares of MercadoLibre and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Wall Street Zen cut shares of MercadoLibre from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. Finally, The Goldman Sachs Group upped their target price on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $2,817.22.

About MercadoLibre

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.