Ninety One North America Inc. Purchases 1,080 Shares of MercadoLibre, Inc. $MELI

Key Points

• Ninety One North America Inc. increased its stake in MercadoLibre, Inc. by 21.5%, acquiring an additional 1,080 shares, bringing its total holdings to 6,094 shares valued at $15,927,000.
• MercadoLibre reported earnings of $10.31 per share for the last quarter, missing analysts' expectations of $12.01, despite revenue increasing by 33.8% year-over-year.
• Wall Street analysts have a consensus rating of "Moderate Buy" for MercadoLibre, with a current average price target of $2,828.33.

Ninety One North America Inc. boosted its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 21.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,094 shares of the company's stock after acquiring an additional 1,080 shares during the period. Ninety One North America Inc.'s holdings in MercadoLibre were worth $15,927,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. 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. Invesco Ltd. boosted its stake in shares of MercadoLibre by 22.4% during the 1st quarter. Invesco Ltd. now owns 570,967 shares of the company's stock valued at $1,113,881,000 after purchasing an additional 104,554 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of MercadoLibre by 21.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company's stock valued at $1,073,823,000 after purchasing an additional 96,283 shares in the last quarter. Generation Investment Management LLP boosted its stake in shares of MercadoLibre by 3.3% during the 1st quarter. Generation Investment Management LLP now owns 530,564 shares of the company's stock valued at $1,035,061,000 after purchasing an additional 16,878 shares in the last quarter. Finally, GQG Partners LLC boosted its stake in shares of MercadoLibre by 23.5% during the 1st quarter. GQG Partners LLC now owns 461,875 shares of the company's stock valued at $901,058,000 after purchasing an additional 87,912 shares in the last quarter. Institutional investors own 87.62% of the company's stock.

MercadoLibre Trading Down 6.6%

Shares of NASDAQ MELI opened at $2,336.94 on Wednesday. MercadoLibre, Inc. has a 1 year low of $1,646.00 and a 1 year high of $2,645.22. The stock has a market cap of $118.48 billion, a P/E ratio of 57.72, a price-to-earnings-growth ratio of 1.63 and a beta of 1.49. The firm has a 50-day moving average of $2,393.33 and a 200 day moving average of $2,340.62. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on MELI shares. JPMorgan Chase & Co. lifted their target price on shares of MercadoLibre from $2,600.00 to $2,700.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Scotiabank started coverage on shares of MercadoLibre in a research note on Monday, July 28th. They set a "sector outperform" rating and a $3,500.00 target price on the stock. Wedbush set a $2,700.00 target price on shares of MercadoLibre and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Susquehanna reaffirmed a "positive" rating and set a $2,975.00 target price (up previously from $2,840.00) on shares of MercadoLibre in a research note on Thursday, June 26th. Finally, Cantor Fitzgerald lifted their target price on shares of MercadoLibre from $2,700.00 to $2,900.00 and gave the company an "overweight" rating in a research note on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, MercadoLibre presently has a consensus rating of "Moderate Buy" and a consensus price target of $2,828.33.

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.

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