Paragon Advisors LLC Has $3.18 Million Holdings in MercadoLibre, Inc. $MELI

Key Points

• Paragon Advisors LLC increased its stake in MercadoLibre, Inc. by 19.5% during the second quarter, bringing its holdings to approximately $3.18 million.
• Several institutional investors, including Invesco Ltd. and UBS AM, have also significantly increased their positions in MercadoLibre, indicating strong institutional interest in the company.
• MercadoLibre's stock performance shows a current market cap of $106.23 billion and a recent EPS of $10.31, which missed analysts' expectations yet demonstrated substantial year-over-year revenue growth.

Paragon Advisors LLC increased its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 19.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,217 shares of the company's stock after purchasing an additional 199 shares during the period. Paragon Advisors LLC's holdings in MercadoLibre were worth $3,181,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. raised its position in MercadoLibre by 22.4% in the 1st quarter. Invesco Ltd. now owns 570,967 shares of the company's stock valued at $1,113,881,000 after buying an additional 104,554 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in 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 worth $1,073,823,000 after acquiring an additional 96,283 shares during the last quarter. GQG Partners LLC grew 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 worth $901,058,000 after acquiring an additional 87,912 shares in the last quarter. Nuveen LLC acquired a new stake in shares of MercadoLibre in the first quarter valued at approximately $143,367,000. Finally, Goldman Sachs Group Inc. raised its holdings in shares of MercadoLibre by 18.7% in the first quarter. Goldman Sachs Group Inc. now owns 450,444 shares of the company's stock valued at $878,757,000 after purchasing an additional 70,834 shares during the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Scotiabank assumed coverage on shares of MercadoLibre in a report on Monday, July 28th. They set a "sector outperform" rating and a $3,500.00 target price for the company. JPMorgan Chase & Co. reduced their target price on shares of MercadoLibre from $2,700.00 to $2,600.00 and set a "neutral" rating for the company in a report on Friday, October 3rd. Weiss Ratings restated a "buy (b)" rating on shares of MercadoLibre in a research note on Wednesday, October 8th. Wedbush set a $2,700.00 price objective on shares of MercadoLibre and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Finally, Raymond James Financial restated a "strong-buy" rating and set a $2,750.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $2,799.12.

MercadoLibre Stock Performance

Shares of MELI stock opened at $2,095.21 on Thursday. The stock has a market cap of $106.23 billion, a P/E ratio of 51.75, a P/E/G ratio of 1.45 and a beta of 1.46. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. The company has a fifty day moving average price of $2,323.69 and a two-hundred day moving average price of $2,351.01. MercadoLibre, Inc. has a one year low of $1,646.00 and a one year high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $10.31 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 firm had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.57 billion. During the same quarter in the prior year, the business earned $10.48 EPS. The business's revenue was up 33.8% compared to the same quarter last year. As a group, equities analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current year.

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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