Voya Investment Management LLC Acquires 770 Shares of MercadoLibre, Inc. $MELI

Key Points

• Voya Investment Management LLC increased its stake in MercadoLibre, Inc. by 101.3% in the first quarter, bringing their total holdings to 1,530 shares valued at approximately $2.99 million.
• Analysts show mixed sentiment towards MercadoLibre, with a consensus rating of "Moderate Buy" and an average price target of $2,817.22, while some analysts have downgraded their ratings.
• In its most recent quarterly earnings, MercadoLibre reported $10.31 EPS, below expected estimates of $12.01, despite achieving 33.8% year-over-year revenue growth with $6.79 billion in revenue.

Voya Investment Management LLC increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 101.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,530 shares of the company's stock after buying an additional 770 shares during the period. Voya Investment Management LLC's holdings in MercadoLibre were worth $2,985,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of MELI. Assenagon Asset Management S.A. raised its stake in MercadoLibre by 170.9% during the first quarter. Assenagon Asset Management S.A. now owns 274,960 shares of the company's stock worth $536,411,000 after buying an additional 173,449 shares during the last quarter. Invesco Ltd. increased its stake in MercadoLibre by 22.4% in the first quarter. Invesco Ltd. now owns 570,967 shares of the company's stock valued at $1,113,881,000 after purchasing an additional 104,554 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in MercadoLibre by 21.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company's stock valued at $1,073,823,000 after purchasing an additional 96,283 shares in the last quarter. GQG Partners LLC increased its stake in MercadoLibre by 23.5% in the first quarter. GQG Partners LLC now owns 461,875 shares of the company's stock valued at $901,058,000 after purchasing an additional 87,912 shares in the last quarter. Finally, Nuveen LLC bought a new stake in MercadoLibre in the first quarter valued at $143,367,000. Institutional investors own 87.62% of the company's stock.

MercadoLibre Trading Up 1.9%

Shares of MercadoLibre stock traded up $46.91 during trading on Tuesday, reaching $2,507.57. The company's stock had a trading volume of 127,298 shares, compared to its average volume of 389,001. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week high of $2,645.22. The company has a market cap of $127.13 billion, a price-to-earnings ratio of 61.89, a PEG ratio of 1.60 and a beta of 1.49. The firm's 50-day moving average is $2,383.72 and its two-hundred day moving average is $2,323.05. 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 quarterly earnings data 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). The business had revenue of $6.79 billion during the quarter, compared to analysts' expectations of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. MercadoLibre's revenue for the quarter was up 33.8% on a year-over-year basis. During the same period last year, the company posted $10.48 EPS. On average, sell-side analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Daiwa Capital Markets began coverage on shares of MercadoLibre in a report on Friday, August 1st. They set a "buy" rating and a $3,000.00 price target on the stock. 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 research report on Thursday, August 7th. Wall Street Zen lowered shares of MercadoLibre from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. Barclays decreased their target price 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. Finally, UBS Group set a $3,000.00 target price on shares of MercadoLibre in a report on Monday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price 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.