MercadoLibre, Inc. (NASDAQ:MELI) Shares Purchased by Banco Santander S.A.

Key Points

• Banco Santander S.A. increased its stake in MercadoLibre by 221.9% in Q1, owning 2,746 shares valued at $5,357,000.
• MercadoLibre reported $9.74 EPS for the last quarter, surpassing the consensus estimate of $7.82, with revenues up 37% year-over-year.
• Analysts have mixed views on MercadoLibre, with target prices ranging from $2,700.00 to $3,500.00 and an average rating of "Moderate Buy."

Banco Santander S.A. increased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 221.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,746 shares of the company's stock after buying an additional 1,893 shares during the quarter. Banco Santander S.A.'s holdings in MercadoLibre were worth $5,357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Key Financial Inc acquired a new position in shares of MercadoLibre in the 1st quarter valued at $25,000. GW&K Investment Management LLC acquired a new position in shares of MercadoLibre in the first quarter valued at about $25,000. Close Asset Management Ltd increased its holdings in shares of 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 purchasing an additional 11 shares during the period. Park Square Financial Group LLC acquired a new position in shares of MercadoLibre in the fourth quarter valued at about $26,000. Finally, Covestor Ltd acquired a new position in shares of MercadoLibre in the fourth quarter valued at about $27,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Price Performance

MercadoLibre stock traded up $17.32 during trading on Tuesday, reaching $2,413.15. The company had a trading volume of 375,966 shares, compared to its average volume of 389,919. The firm's 50-day simple moving average is $2,453.60 and its 200 day simple moving average is $2,233.10. MercadoLibre, Inc. has a 1-year low of $1,646.00 and a 1-year high of $2,645.22. The firm has a market capitalization of $122.34 billion, a PE ratio of 59.18, a price-to-earnings-growth ratio of 1.41 and a beta of 1.46. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.18 and a current ratio of 1.20.

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). MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. The company had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.57 billion. During the same quarter last year, the business earned $10.48 EPS. The firm's revenue for the quarter was up 33.8% compared to the same quarter last year. As a group, equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MELI. The Goldman Sachs Group increased their price target on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. Jefferies Financial Group reiterated a "hold" rating and issued a $2,800.00 price objective (up previously from $2,450.00) on shares of MercadoLibre in a research note on Thursday, June 5th. Benchmark downgraded MercadoLibre from a "buy" rating to a "cautious" rating in a research report on Thursday, May 1st. Daiwa Capital Markets started coverage on MercadoLibre in a research report on Friday. They set a "buy" rating and a $3,000.00 price target on the stock. Finally, JPMorgan Chase & Co. increased their price target on MercadoLibre from $2,250.00 to $2,600.00 and gave the stock a "neutral" rating in a research report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $2,707.50.

MercadoLibre Company 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.