Douglass Winthrop Advisors LLC Grows Position in MercadoLibre, Inc. $MELI

Key Points

• Douglass Winthrop Advisors LLC increased its stake in MercadoLibre, Inc. by 3.4%, now holding 4,960 shares valued at approximately $9.68 million.
• MercadoLibre recently reported earnings of $10.31 per share, missing estimates, but its revenue rose 33.8% year-over-year to $6.79 billion.
• The stock has a current price of $2,430.62 and is currently rated as a "Moderate Buy" with a consensus target price of $2,817.22.

Douglass Winthrop Advisors LLC increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 3.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,960 shares of the company's stock after purchasing an additional 161 shares during the period. Douglass Winthrop Advisors LLC's holdings in MercadoLibre were worth $9,676,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in MELI. Key Financial Inc purchased a new stake in MercadoLibre in the 1st quarter valued at about $25,000. GW&K Investment Management LLC purchased a new stake in MercadoLibre in the 1st quarter valued at about $25,000. Park Square Financial Group LLC purchased a new stake in MercadoLibre in the 4th quarter valued at about $26,000. Close Asset Management Ltd boosted its position in 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 buying an additional 11 shares during the period. Finally, Brooklyn Investment Group boosted its position in 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 buying an additional 13 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MELI has been the subject of several research reports. Susquehanna reissued a "positive" rating and issued a $2,975.00 price objective (up from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. Jefferies Financial Group restated a "hold" rating and issued a $2,800.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Scotiabank initiated coverage on shares of MercadoLibre in a report on Monday, July 28th. They issued a "sector outperform" rating and a $3,500.00 price target for the company. Cantor Fitzgerald restated an "overweight" rating and issued a $2,700.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Finally, JPMorgan Chase & Co. boosted their price target on shares of MercadoLibre from $2,600.00 to $2,700.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. 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 company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $2,817.22.

MercadoLibre Stock Down 0.1%

Shares of NASDAQ MELI traded down $2.21 during trading hours on Tuesday, hitting $2,405.53. 409,689 shares of the stock were exchanged, compared to its average volume of 390,684. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. The company has a market cap of $121.96 billion, a PE ratio of 59.41, a PEG ratio of 1.58 and a beta of 1.46. The firm has a fifty day moving average price of $2,410.39 and a 200-day moving average price of $2,280.61. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22.

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