Ninety One UK Ltd Has $4.73 Million Position in MercadoLibre, Inc. $MELI

Key Points

• Ninety One UK Ltd increased its holdings in MercadoLibre, Inc. by 117% during the 2nd quarter, bringing its investment to $4.73 million.
• MercadoLibre reported earnings of $10.31 per share, missing estimates by $1.70, despite a revenue of $6.79 billion for the quarter.
• Several research firms have set new price targets for MercadoLibre, with a consensus average price target of $2,828.33 and ratings varying from "Strong Buy" to "Hold".

Ninety One UK Ltd increased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 117.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 1,810 shares of the company's stock after purchasing an additional 976 shares during the period. Ninety One UK Ltd's holdings in MercadoLibre were worth $4,731,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of MELI. Key Financial Inc bought a new position in shares of MercadoLibre during the 1st quarter worth about $25,000. GW&K Investment Management LLC acquired a new stake in MercadoLibre during the first quarter worth about $25,000. Close Asset Management Ltd increased its stake in MercadoLibre by 366.7% during the first quarter. Close Asset Management Ltd now owns 14 shares of the company's stock valued at $27,000 after acquiring an additional 11 shares during the period. Brooklyn Investment Group increased its stake in MercadoLibre by 650.0% during the first quarter. Brooklyn Investment Group now owns 15 shares of the company's stock valued at $29,000 after acquiring an additional 13 shares during the period. Finally, Twin Tree Management LP acquired a new position in MercadoLibre in the 1st quarter valued at approximately $29,000. Institutional investors own 87.62% of the company's stock.

MercadoLibre Price Performance

NASDAQ:MELI opened at $2,176.91 on Thursday. The firm has a market cap of $110.37 billion, a PE ratio of 53.76, a price-to-earnings-growth ratio of 1.52 and a beta of 1.46. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. The company's 50-day moving average price is $2,388.98 and its two-hundred day moving average price is $2,339.49.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its 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). The firm had revenue of $6.79 billion during 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 business's revenue was up 33.8% on a year-over-year basis. During the same quarter last year, the firm posted $10.48 EPS. On average, equities analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MELI. Wedbush set a $2,700.00 price objective on MercadoLibre and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Susquehanna reiterated a "positive" rating and set a $2,975.00 price target (up previously from $2,840.00) on shares of MercadoLibre in a research note on Thursday, June 26th. Cantor Fitzgerald increased their price objective 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. Benchmark reaffirmed a "buy" rating and set a $2,875.00 price objective on shares of MercadoLibre in a report on Tuesday, August 5th. Finally, Barclays lowered their target price on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 23rd. 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 stock. Based on data from MarketBeat, MercadoLibre presently has an average rating of "Moderate Buy" and an average price target of $2,828.33.

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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