Night Squared LP Takes Position in MercadoLibre, Inc. $MELI

Key Points

• Night Squared LP has acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI), purchasing 3,303 shares valued at approximately $6,444,000, making it the firm's 7th largest position.
• MercadoLibre's stock opened at $2,472.91 and has a market cap of $125.37 billion, with a P/E ratio of 61.07 and a 1-year price range of $1,646.00 to $2,645.22.
• The company reported second-quarter earnings of $10.31 per share, falling short of the consensus expectation, despite achieving revenue of $6.79 billion, which surpassed estimates.

Night Squared LP acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,303 shares of the company's stock, valued at approximately $6,444,000. MercadoLibre comprises 3.8% of Night Squared LP's investment portfolio, making the stock its 7th largest position.

Other institutional investors have also bought and sold shares of the company. Banco Santander S.A. lifted its stake in MercadoLibre by 221.9% in the first quarter. Banco Santander S.A. now owns 2,746 shares of the company's stock valued at $5,357,000 after purchasing an additional 1,893 shares during the last quarter. Prospect Financial Services LLC lifted its stake in MercadoLibre by 41.7% in the first quarter. Prospect Financial Services LLC now owns 340 shares of the company's stock valued at $663,000 after purchasing an additional 100 shares during the last quarter. Stratos Investment Management LLC purchased a new position in MercadoLibre in the first quarter valued at approximately $203,000. JARISLOWSKY FRASER Ltd lifted its stake in MercadoLibre by 43.6% in the fourth quarter. JARISLOWSKY FRASER Ltd now owns 3,249 shares of the company's stock valued at $5,525,000 after purchasing an additional 987 shares during the last quarter. Finally, Avant Financial Advisors LLC purchased a new position in MercadoLibre in the fourth quarter valued at approximately $316,000. Hedge funds and other institutional investors own 87.62% of the company's stock.

MercadoLibre Stock Performance

MercadoLibre stock opened at $2,472.91 on Friday. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. The firm has a 50-day moving average of $2,413.70 and a 200-day moving average of $2,288.37. The firm has a market cap of $125.37 billion, a P/E ratio of 61.07, a P/E/G ratio of 1.61 and a beta of 1.46. MercadoLibre, Inc. has a 1-year low of $1,646.00 and a 1-year high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted 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 firm had revenue of $6.79 billion for the quarter, compared to analysts' expectations of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The business's revenue for the quarter was up 33.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $10.48 earnings per share. Sell-side analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analyst Ratings Changes

MELI has been the topic of several recent research reports. Susquehanna restated a "positive" rating and set a $2,975.00 target price (up previously from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. Scotiabank initiated coverage on MercadoLibre in a research report on Monday, July 28th. They set a "sector outperform" rating and a $3,500.00 target price on the stock. Citigroup dropped their target price on MercadoLibre from $2,900.00 to $2,850.00 and set a "buy" rating on the stock in a research report on Monday, August 18th. The Goldman Sachs Group increased their target price on MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Finally, UBS Group set a $3,000.00 target price on MercadoLibre in a research report on Monday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, MercadoLibre presently has a consensus rating of "Moderate Buy" and an average target price of $2,817.22.

About MercadoLibre

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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