MercadoLibre, Inc. (NASDAQ:MELI) Shares Bought by China Universal Asset Management Co. Ltd.

China Universal Asset Management Co. Ltd. grew its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 51.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,252 shares of the company's stock after purchasing an additional 427 shares during the period. China Universal Asset Management Co. Ltd.'s holdings in MercadoLibre were worth $2,442,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MELI. Bank Pictet & Cie Europe AG acquired a new position in MercadoLibre during the 4th quarter worth approximately $561,000. Raymond James Financial Inc. purchased a new stake in shares of MercadoLibre during the 4th quarter worth approximately $70,131,000. Callan Family Office LLC purchased a new stake in shares of MercadoLibre during the 4th quarter worth approximately $291,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of MercadoLibre during the 4th quarter worth approximately $434,000. Finally, Edgestream Partners L.P. purchased a new stake in shares of MercadoLibre during the 4th quarter worth approximately $682,000. Institutional investors and hedge funds own 87.62% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MELI. Cantor Fitzgerald decreased their price target on MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 11th. Benchmark lowered MercadoLibre from a "buy" rating to a "cautious" rating in a research note on Thursday, May 1st. The Goldman Sachs Group boosted their price target on MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Wall Street Zen lowered MercadoLibre from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Finally, Jefferies Financial Group reissued a "hold" rating and set a $2,800.00 price target (up previously from $2,450.00) on shares of MercadoLibre in a research note on Thursday, June 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $2,645.94.

MercadoLibre Trading Down 0.5%

MELI stock opened at $2,501.08 on Tuesday. The company has a market cap of $126.80 billion, a price-to-earnings ratio of 61.51, a PEG ratio of 1.49 and a beta of 1.49. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.57. The business has a fifty day simple moving average of $2,474.90 and a 200-day simple moving average of $2,144.63. MercadoLibre, Inc. has a 52 week low of $1,579.78 and a 52 week high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, topping analysts' consensus estimates of $7.82 by $1.92. The business had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.55 billion. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. The business's revenue for the quarter was up 37.0% on a year-over-year basis. During the same period in the prior year, the firm posted $6.78 EPS. On average, equities research analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

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.

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