MercadoLibre, Inc. $MELI is Driehaus Capital Management LLC's 8th Largest Position

Key Points

• Driehaus Capital Management LLC increased its stake in MercadoLibre, Inc. by 55.7% during the first quarter, owning 62,036 shares currently worth approximately $121 million.
• MercadoLibre reported $10.31 earnings per share for Q2, missing analysts' expectations, but its revenue of $6.79 billion surpassed forecasts, reflecting a 33.8% year-over-year growth.
• Analysts have a consensus target price of $2,817.22 for MercadoLibre, with multiple firms providing buy ratings and optimistic price projections between $2,700.00 and $3,000.00.

Driehaus Capital Management LLC lifted its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 55.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 62,036 shares of the company's stock after acquiring an additional 22,203 shares during the quarter. MercadoLibre accounts for 1.2% of Driehaus Capital Management LLC's investment portfolio, making the stock its 8th largest position. Driehaus Capital Management LLC owned 0.12% of MercadoLibre worth $121,024,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of the stock. Key Financial Inc purchased a new stake in shares of MercadoLibre in the first quarter valued at about $25,000. GW&K Investment Management LLC purchased a new position in shares of MercadoLibre in the first quarter valued at $25,000. Close Asset Management Ltd raised 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 in the last quarter. Park Square Financial Group LLC acquired a new stake in shares of MercadoLibre during the fourth quarter worth $26,000. Finally, Brooklyn Investment Group grew 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 in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Trading Up 0.0%

MELI stock traded up $0.62 during midday trading on Monday, reaching $2,472.91. 292,481 shares of the company traded hands, compared to its average volume of 386,617. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. The business has a 50 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 firm has a market capitalization of $125.38 billion, a price-to-earnings ratio of 61.07, a P/E/G ratio of 1.61 and a beta of 1.49.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) 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 the consensus estimate of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The firm's revenue was up 33.8% compared to the same quarter last year. During the same period last year, the business posted $10.48 EPS. As a group, sell-side analysts expect 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. Wall Street Zen lowered shares of MercadoLibre from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. UBS Group set a $3,000.00 price objective on MercadoLibre in a report on Monday, June 2nd. Jefferies Financial Group reissued a "hold" rating and issued a $2,800.00 price objective on shares of MercadoLibre in a report on Tuesday, August 5th. Citigroup decreased their price target on MercadoLibre from $2,900.00 to $2,850.00 and set a "buy" rating on the stock in a research report on Monday, August 18th. Finally, Scotiabank began coverage on MercadoLibre in a research note on Monday, July 28th. They issued a "sector outperform" rating and a $3,500.00 price target on the stock. 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. Based on data from MarketBeat.com, MercadoLibre presently has a consensus rating of "Moderate Buy" and an average target price of $2,817.22.

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.