MercadoLibre, Inc. (NASDAQ:MELI) Shares Purchased by Caitong International Asset Management Co. Ltd

Key Points

• Caitong International Asset Management Co. Ltd increased its stake in MercadoLibre by 1,190.3% during Q1, owning 929 shares valued at approximately $1.8 million as of the latest report.
• Analysts have set a consensus price target of $2,795 for MercadoLibre, with a majority rating the stock as a "Moderate Buy."
• Despite missing earnings estimates with $10.31 EPS for the quarter, MercadoLibre reported revenue of $6.79 billion, surpassing estimates and reflecting a 33.8% year-over-year growth.

Caitong International Asset Management Co. Ltd boosted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 1,190.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 929 shares of the company's stock after buying an additional 857 shares during the quarter. MercadoLibre accounts for approximately 1.3% of Caitong International Asset Management Co. Ltd's portfolio, making the stock its 8th largest holding. Caitong International Asset Management Co. Ltd's holdings in MercadoLibre were worth $1,812,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MELI. Key Financial Inc purchased a new stake in shares of MercadoLibre during the 1st quarter valued at about $25,000. GW&K Investment Management LLC acquired a new position in shares of MercadoLibre in the first quarter worth about $25,000. Park Square Financial Group LLC acquired a new stake in MercadoLibre during the 4th quarter valued at approximately $26,000. Covestor Ltd bought a new position in MercadoLibre during the 4th quarter valued at $27,000. Finally, Close Asset Management Ltd grew its holdings in MercadoLibre by 366.7% during the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company's stock worth $27,000 after acquiring an additional 11 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on MELI shares. Daiwa Capital Markets initiated coverage on MercadoLibre in a report on Friday, August 1st. They set a "buy" rating and a $3,000.00 target price on the stock. Jefferies Financial Group restated a "hold" rating and issued a $2,800.00 price objective on shares of MercadoLibre in a report on Tuesday, August 5th. Benchmark reaffirmed a "buy" rating and set a $2,875.00 target price on shares of MercadoLibre in a report on Tuesday, August 5th. Susquehanna reissued a "positive" rating and set a $2,975.00 price target (up from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. Finally, UBS Group set a $3,000.00 target price on MercadoLibre in a research report on Monday, June 2nd. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, MercadoLibre has a consensus rating of "Moderate Buy" and an average price target of $2,795.00.

MercadoLibre Stock Up 2.6%

Shares of NASDAQ:MELI opened at $2,350.83 on Wednesday. The firm has a fifty day moving average of $2,426.54 and a 200 day moving average of $2,251.59. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. 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 $119.19 billion, a PE ratio of 58.06, a price-to-earnings-growth ratio of 1.46 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $10.31 earnings per share for the quarter, missing analysts' consensus estimates 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 company's revenue for the quarter was up 33.8% on a year-over-year basis. During the same period in the previous year, the firm posted $10.48 EPS. As a group, research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal 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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