Ninety One North America Inc. Boosts Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Ninety One North America Inc. grew its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 73.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,014 shares of the company's stock after acquiring an additional 2,119 shares during the quarter. Ninety One North America Inc.'s holdings in MercadoLibre were worth $9,782,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Bank Pictet & Cie Europe AG acquired a new stake in shares of MercadoLibre during the fourth quarter worth $561,000. Dana Investment Advisors Inc. lifted its holdings in shares of MercadoLibre by 1.8% during the fourth quarter. Dana Investment Advisors Inc. now owns 621 shares of the company's stock worth $1,056,000 after purchasing an additional 11 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of MercadoLibre during the fourth quarter worth $70,131,000. Callan Family Office LLC acquired a new stake in shares of MercadoLibre during the fourth quarter worth $291,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of MercadoLibre during the fourth quarter worth $434,000. 87.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on MELI. UBS Group set a $3,000.00 target price on MercadoLibre in a report on Monday, June 2nd. Benchmark downgraded MercadoLibre from a "buy" rating to a "cautious" rating in a report on Thursday, May 1st. Susquehanna reissued a "positive" rating and issued a $2,975.00 target price (up previously from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. Wall Street Zen downgraded MercadoLibre from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. Finally, The Goldman Sachs Group raised their target price on MercadoLibre from $2,640.00 to $3,000.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, MercadoLibre presently has an average rating of "Moderate Buy" and an average price target of $2,645.94.

MercadoLibre Price Performance

Shares of MELI stock traded down $24.48 during mid-day trading on Tuesday, reaching $2,476.60. The stock had a trading volume of 224,851 shares, compared to its average volume of 388,370. MercadoLibre, Inc. has a 12-month low of $1,579.78 and a 12-month high of $2,645.22. The company has a market cap of $125.56 billion, a P/E ratio of 60.91, a price-to-earnings-growth ratio of 1.49 and a beta of 1.49. The business has a 50-day simple moving average of $2,474.90 and a 200 day simple moving average of $2,144.63. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.57.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted 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 firm had revenue of $5.94 billion during the quarter, compared to analysts' expectations of $5.55 billion. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. The firm's quarterly revenue was up 37.0% compared to the same quarter last year. During the same quarter last year, the business posted $6.78 EPS. On average, sell-side analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

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.