Parallel Advisors LLC Boosts Stock Holdings in MercadoLibre, Inc. $MELI

Key Points

• Parallel Advisors LLC significantly increased its stake in MercadoLibre, Inc. by purchasing an additional 333 shares, growing its total holdings to 532 shares valued at approximately $1.39 million.
• Various institutional investors are actively trading shares of MercadoLibre, with hedge funds owning over 87.62% of the company's stock.
• MercadoLibre reported a earnings per share (EPS) of $10.31 for the latest quarter, missing estimates, although its revenue rose by 33.8% year-over-year to $6.79 billion.

Parallel Advisors LLC increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 167.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 532 shares of the company's stock after acquiring an additional 333 shares during the period. Parallel Advisors LLC's holdings in MercadoLibre were worth $1,391,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of MELI. Banco Santander S.A. increased its holdings in shares of MercadoLibre by 221.9% in the 1st quarter. Banco Santander S.A. now owns 2,746 shares of the company's stock worth $5,357,000 after buying an additional 1,893 shares during the last quarter. Prospect Financial Services LLC grew its holdings in shares of MercadoLibre by 41.7% during the 1st 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 bought a new position in shares of MercadoLibre during the 1st quarter valued at $203,000. Avant Financial Advisors LLC bought a new position in shares of MercadoLibre during the 4th quarter valued at $316,000. Finally, Ground Swell Capital LLC bought a new position in shares of MercadoLibre during the 1st quarter valued at $439,000. Institutional investors own 87.62% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on MELI shares. Benchmark reissued a "buy" rating and issued a $2,875.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Daiwa Capital Markets started coverage on shares of MercadoLibre in a report on Friday, August 1st. They issued a "buy" rating and a $3,000.00 price target on the stock. Wall Street Zen lowered shares of MercadoLibre from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. Susquehanna reissued a "positive" rating and issued a $2,975.00 price target (up previously from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. Finally, UBS Group set a $3,000.00 price target on shares of MercadoLibre in a report on Monday, June 2nd. One 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. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $2,817.22.

MercadoLibre Trading Down 1.0%

Shares of MercadoLibre stock traded down $24.03 during trading on Friday, hitting $2,452.34. The stock had a trading volume of 416,882 shares, compared to its average volume of 367,642. The firm's fifty day simple moving average is $2,382.11 and its 200-day simple moving average is $2,316.57. The stock has a market cap of $124.33 billion, a PE ratio of 60.57, a PEG ratio of 1.61 and a beta of 1.49. 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, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing the consensus estimate 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 return on equity of 43.06% and a net margin of 8.52%.MercadoLibre's revenue was up 33.8% compared to the same quarter last year. During the same quarter last year, the business posted $10.48 EPS. As a group, sell-side analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

MercadoLibre 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.