Penserra Capital Management LLC Boosts Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Penserra Capital Management LLC increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 1.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,104 shares of the company's stock after buying an additional 115 shares during the period. Penserra Capital Management LLC's holdings in MercadoLibre were worth $19,709,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Capital International Investors grew its stake in shares of MercadoLibre by 38.7% during the fourth quarter. Capital International Investors now owns 1,687,114 shares of the company's stock worth $2,868,869,000 after acquiring an additional 470,829 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of MercadoLibre by 41.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company's stock worth $2,370,848,000 after acquiring an additional 405,425 shares during the last quarter. Wealthfront Advisers LLC acquired a new stake in shares of MercadoLibre during the fourth quarter worth about $565,306,000. Capital World Investors lifted its holdings in shares of MercadoLibre by 24.5% during the fourth quarter. Capital World Investors now owns 1,568,602 shares of the company's stock worth $2,667,386,000 after purchasing an additional 308,973 shares during the period. Finally, Norges Bank acquired a new stake in shares of MercadoLibre during the fourth quarter worth about $383,051,000. Institutional investors own 87.62% of the company's stock.

MercadoLibre Price Performance

NASDAQ MELI traded down $34.08 during mid-day trading on Tuesday, hitting $2,467.00. The stock had a trading volume of 132,966 shares, compared to its average volume of 387,704. The firm's 50 day moving average is $2,474.90 and its 200 day moving average is $2,144.63. MercadoLibre, Inc. has a twelve month low of $1,579.78 and a twelve month high of $2,645.22. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.20 and a quick ratio of 1.18. The stock has a market capitalization of $125.07 billion, a price-to-earnings ratio of 60.67, a PEG ratio of 1.49 and a beta of 1.49.

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, beating the consensus estimate of $7.82 by $1.92. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. The firm had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.55 billion. During the same period in the prior year, the company earned $6.78 EPS. The firm's revenue was up 37.0% compared to the same quarter last year. Equities research analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on MELI shares. Wall Street Zen downgraded MercadoLibre from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. 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 report on Thursday, June 26th. Barclays lifted their target price on MercadoLibre from $2,500.00 to $3,100.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. The Goldman Sachs Group lifted their target price on MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. Finally, Benchmark downgraded MercadoLibre from a "buy" rating to a "cautious" rating in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $2,645.94.

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.