Penserra Capital Management LLC Acquires 115 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Penserra Capital Management LLC boosted its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 1.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,104 shares of the company's stock after purchasing an additional 115 shares during the quarter. Penserra Capital Management LLC's holdings in MercadoLibre were worth $19,709,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Cloud Capital Management LLC bought a new stake in MercadoLibre in the first quarter valued at about $120,000. Argentarii LLC increased its holdings in MercadoLibre by 138.6% in the first quarter. Argentarii LLC now owns 303 shares of the company's stock valued at $591,000 after purchasing an additional 176 shares during the last quarter. Riggs Asset Managment Co. Inc. grew its stake in MercadoLibre by 2.0% in the first quarter. Riggs Asset Managment Co. Inc. now owns 1,452 shares of the company's stock valued at $2,833,000 after acquiring an additional 29 shares during the period. Adell Harriman & Carpenter Inc. grew its stake in MercadoLibre by 10.6% in the first quarter. Adell Harriman & Carpenter Inc. now owns 188 shares of the company's stock valued at $367,000 after acquiring an additional 18 shares during the period. Finally, Concurrent Investment Advisors LLC grew its stake in MercadoLibre by 31.1% in the first quarter. Concurrent Investment Advisors LLC now owns 451 shares of the company's stock valued at $880,000 after acquiring an additional 107 shares during the period. Institutional investors own 87.62% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MELI. Wall Street Zen cut MercadoLibre from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Susquehanna reissued a "positive" rating and issued a $2,975.00 target price (up from $2,840.00) on shares of MercadoLibre in a research note on Thursday, June 26th. Morgan Stanley reissued an "overweight" rating on shares of MercadoLibre in a research note on Thursday, May 1st. UBS Group set a $3,000.00 target price on MercadoLibre in a research note on Monday, June 2nd. Finally, Barclays upped their price objective on MercadoLibre from $2,500.00 to $3,100.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $2,645.94.

MercadoLibre Stock Performance

Shares of MELI traded up $0.48 during mid-day trading on Wednesday, reaching $2,477.08. The company's stock had a trading volume of 233,506 shares, compared to its average volume of 387,758. The stock has a market cap of $125.59 billion, a P/E ratio of 60.92, a PEG ratio of 1.49 and a beta of 1.49. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.57. MercadoLibre, Inc. has a 1-year low of $1,579.78 and a 1-year high of $2,645.22. The business has a 50-day simple moving average of $2,478.82 and a two-hundred day simple moving average of $2,146.93.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, beating the consensus estimate of $7.82 by $1.92. The firm had revenue of $5.94 billion during the quarter, compared to analysts' expectations of $5.55 billion. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. The company's quarterly revenue was up 37.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.78 EPS. As a group, equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

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.