MercadoLibre, Inc. (NASDAQ:MELI) Shares Purchased by Jupiter Asset Management Ltd.

Key Points

• Jupiter Asset Management Ltd. increased its stake in MercadoLibre, Inc. by 10.0% in Q1, owning 20,050 shares worth approximately $39 million following the purchase of 1,818 additional shares.
• Institutional investors currently own 87.62% of MercadoLibre's stock, reflecting a strong interest from various firms including Vanguard and Barclays.
• Analysts have mixed ratings on MELI, with consensus ratings leaning towards a Moderate Buy and a target price averaging $2,707.50.

Jupiter Asset Management Ltd. raised its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 10.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,050 shares of the company's stock after purchasing an additional 1,818 shares during the period. Jupiter Asset Management Ltd.'s holdings in MercadoLibre were worth $39,115,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of MELI. Capital Research Global Investors grew its holdings in MercadoLibre by 8.0% in the 4th quarter. Capital Research Global Investors now owns 2,415,815 shares of the company's stock worth $4,108,079,000 after acquiring an additional 179,807 shares during the last quarter. Capital International Investors grew its holdings in MercadoLibre by 38.7% in the 4th quarter. Capital International Investors now owns 1,687,114 shares of the company's stock worth $2,868,869,000 after acquiring an additional 470,829 shares during the last quarter. Capital World Investors grew its holdings in MercadoLibre by 24.5% in the 4th quarter. Capital World Investors now owns 1,568,602 shares of the company's stock worth $2,667,386,000 after acquiring an additional 308,973 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in MercadoLibre by 41.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company's stock worth $2,370,848,000 after acquiring an additional 405,425 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings in MercadoLibre by 1.6% in the 1st quarter. Jennison Associates LLC now owns 1,154,116 shares of the company's stock worth $2,251,531,000 after acquiring an additional 18,731 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

MercadoLibre Price Performance

Shares of MercadoLibre stock traded up $19.91 during trading hours on Monday, reaching $2,395.83. 557,159 shares of the company's stock were exchanged, compared to its average volume of 275,352. MercadoLibre, Inc. has a 1 year low of $1,646.00 and a 1 year high of $2,645.22. The company has a market capitalization of $121.47 billion, a P/E ratio of 58.92, a price-to-earnings-growth ratio of 1.41 and a beta of 1.46. The business has a fifty day moving average of $2,455.84 and a two-hundred day moving average of $2,229.19. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.57.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results 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). MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. During the same quarter in the previous year, the business posted $10.48 EPS. MercadoLibre's quarterly revenue was up 33.8% compared to the same quarter last year. As a group, research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on MELI shares. Barclays cut 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 research note on Wednesday, July 23rd. Wall Street Zen lowered shares of MercadoLibre from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. JPMorgan Chase & Co. lifted their target price on shares of MercadoLibre from $2,250.00 to $2,600.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. Daiwa Capital Markets started coverage on shares of MercadoLibre in a research note on Friday. They set a "buy" rating and a $3,000.00 target price on the stock. Finally, Cantor Fitzgerald cut their target price on shares of 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, MercadoLibre has an average rating of "Moderate Buy" and a consensus price target of $2,707.50.

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.