Permanens Capital L.P. purchased a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 1,630 shares of the company's stock, valued at approximately $2,767,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bison Wealth LLC purchased a new position in shares of MercadoLibre in the 4th quarter worth $206,000. Empowered Funds LLC raised its position in shares of MercadoLibre by 6.9% in the 1st quarter. Empowered Funds LLC now owns 760 shares of the company's stock worth $1,483,000 after acquiring an additional 49 shares in the last quarter. Focus Partners Wealth boosted its position in MercadoLibre by 42.0% in the first quarter. Focus Partners Wealth now owns 602 shares of the company's stock valued at $1,176,000 after buying an additional 178 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in MercadoLibre during the second quarter worth about $261,000. Finally, Gamco Investors INC. ET AL lifted its holdings in shares of MercadoLibre by 21.4% in the 2nd quarter. Gamco Investors INC. ET AL now owns 170 shares of the company's stock worth $444,000 after acquiring an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.
Analyst Ratings Changes
A number of brokerages have recently issued reports on MELI. Weiss Ratings reiterated a "hold (c)" rating on shares of MercadoLibre in a research note on Thursday, July 2nd. Zacks Research raised MercadoLibre from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. The Goldman Sachs Group set a $2,100.00 target price on shares of MercadoLibre in a research report on Wednesday, May 13th. Morgan Stanley dropped their price target on MercadoLibre from $2,600.00 to $2,450.00 and set an "overweight" rating on the stock in a research report on Monday, May 11th. Finally, Cantor Fitzgerald upped their price target on shares of MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Eleven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $2,272.00.
Read Our Latest Stock Analysis on MELI
MercadoLibre Price Performance
MELI opened at $1,950.44 on Thursday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10. The stock has a market capitalization of $98.89 billion, a P/E ratio of 53.04, a price-to-earnings-growth ratio of 1.37 and a beta of 1.34. The company's 50 day simple moving average is $1,811.91 and its 200-day simple moving average is $1,771.27. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,548.50.
MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $9.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.65 by $0.54. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The business had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.79 billion. During the same period in the previous year, the firm earned $10.31 EPS. MercadoLibre's quarterly revenue was up 49.8% compared to the same quarter last year. Sell-side analysts anticipate that MercadoLibre, Inc. will post 39.11 earnings per share for the current fiscal year.
About MercadoLibre
(
Free Report)
MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.
Key offerings include its marketplace platform and a suite of logistics and payment services.
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