MercadoLibre, Inc. $MELI Stock: Aberdeen Group plc Increases Stake

Key Points

• Aberdeen Group increased its MercadoLibre stake by 6,304.8% in Q3, ending the quarter with 2.47 million shares worth about $4.28 billion—4.88% of the company and its third-largest portfolio holding.
• MercadoLibre reported quarterly revenue of $10.75 billion, above estimates, with year-over-year growth of 45.1%; earnings per share of $8.83 fell short of the $9.27 consensus.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $2,170.62; recent targets included UBS’s cut to $1,600 and New Street Research’s $2,450 target.

Aberdeen Group plc grew its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 6,304.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,473,606 shares of the company's stock after purchasing an additional 2,434,985 shares during the quarter. MercadoLibre makes up approximately 4.5% of Aberdeen Group plc's portfolio, making the stock its 3rd biggest position. Aberdeen Group plc owned 4.88% of MercadoLibre worth $4,275,702,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in MELI. BlackRock Inc. bought a new stake in shares of MercadoLibre in the 2nd quarter worth approximately $2,246,015,000. Janus Henderson Group PLC boosted its stake in shares of MercadoLibre by 1.7% during the 1st quarter. Janus Henderson Group PLC now owns 614,238 shares of the company's stock valued at $1,062,019,000 after purchasing an additional 10,142 shares in the last quarter. Linonia Partnership LP boosted its stake in shares of MercadoLibre by 325.1% during the 2nd quarter. Linonia Partnership LP now owns 553,788 shares of the company's stock valued at $939,994,000 after purchasing an additional 423,527 shares in the last quarter. Jupiter Topco LLC bought a new stake in shares of MercadoLibre during the 2nd quarter valued at about $917,123,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of MercadoLibre by 7.9% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 533,816 shares of the company's stock valued at $906,094,000 after buying an additional 38,871 shares during the period. Institutional investors own 87.62% of the company's stock.

MercadoLibre Stock Up 1.1%

Shares of NASDAQ:MELI opened at $1,491.49 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.10 and a debt-to-equity ratio of 0.77. The stock has a fifty day simple moving average of $1,760.76 and a two-hundred day simple moving average of $1,787.78. MercadoLibre, Inc. has a 12-month low of $1,463.20 and a 12-month high of $2,342.00. The stock has a market capitalization of $75.62 billion, a price-to-earnings ratio of 39.57, a PEG ratio of 1.06 and a beta of 1.42.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results on Wednesday, November 4th. The company reported $8.83 EPS for the quarter, missing analysts' consensus estimates of $9.27 by ($0.44). The company had revenue of $10.75 billion during the quarter, compared to analysts' expectations of $10.69 billion. MercadoLibre had a return on equity of 25.15% and a net margin of 4.91%. The company's revenue was up 45.1% on a year-over-year basis. During the same period in the prior year, the company posted $8.32 earnings per share. On average, research analysts anticipate that MercadoLibre, Inc. will post 37.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. New Street Research initiated coverage on shares of MercadoLibre in a research note on Wednesday, September 23rd. They issued a "buy" rating and a $2,450.00 price target for the company. Raymond James Financial reaffirmed a "strong-buy" rating on shares of MercadoLibre in a research report on Thursday, November 5th. UBS Group cut their price objective on MercadoLibre from $1,750.00 to $1,600.00 and set a "neutral" rating on the stock in a research report on Wednesday. Scotiabank reduced their target price on MercadoLibre from $2,800.00 to $2,300.00 and set a "sector outperform" rating on the stock in a report on Thursday, November 5th. Finally, Citigroup raised MercadoLibre from a "neutral" rating to a "buy" rating and decreased their target price for the stock from $2,100.00 to $2,050.00 in a research report on Tuesday, October 27th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $2,170.62.

MercadoLibre Profile

MercadoLibre, Inc. operates an online commerce and financial technology platform focused on Latin America. Founded in Argentina in 1999, the company connects buyers and sellers through its marketplace, where businesses and individuals can list and purchase a wide range of products. The company's services also include Mercado Pago, which offers digital payment and financial services for transactions on and off its marketplace. MercadoLibre supports commerce with services such as Mercado Envíos, its shipping and logistics platform, and provides advertising tools for merchants and brands.

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