PharVision Advisers LLC Acquires Shares of 157 MercadoLibre, Inc. $MELI

Key Points

• PharVision Advisers LLC bought a new stake in MercadoLibre, Inc. during Q1, acquiring 157 shares valued at approximately $306,000.
• MercadoLibre had a strong revenue of $6.79 billion in the latest quarter, marking a 33.8% increase year-over-year, despite missing EPS estimates.
• Several brokerage firms issued new price targets for MercadoLibre, with Barclays reducing its target from $3,100 to $3,000, while Benchmark set a new target at $2,875.

PharVision Advisers LLC acquired a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 157 shares of the company's stock, valued at approximately $306,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Nissay Asset Management Corp Japan ADV boosted its position in shares of MercadoLibre by 10.5% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 11,803 shares of the company's stock worth $23,026,000 after buying an additional 1,121 shares during the period. NewEdge Advisors LLC boosted its position in shares of MercadoLibre by 18.4% during the first quarter. NewEdge Advisors LLC now owns 5,651 shares of the company's stock worth $11,024,000 after buying an additional 879 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of MercadoLibre by 10.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 146,116 shares of the company's stock worth $285,066,000 after buying an additional 13,349 shares during the period. Infusive Asset Management Inc. boosted its position in shares of MercadoLibre by 807.2% during the first quarter. Infusive Asset Management Inc. now owns 2,141 shares of the company's stock worth $4,177,000 after buying an additional 1,905 shares during the period. Finally, DnB Asset Management AS boosted its position in MercadoLibre by 2.7% during the first quarter. DnB Asset Management AS now owns 45,393 shares of the company's stock valued at $88,556,000 after purchasing an additional 1,201 shares during the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Daiwa Capital Markets assumed coverage on MercadoLibre in a research report on Friday, August 1st. They set a "buy" rating and a $3,000.00 price target for the company. Benchmark reissued a "buy" rating and issued a $2,875.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 5th. JPMorgan Chase & Co. upped their target price on shares of MercadoLibre from $2,600.00 to $2,700.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Raymond James Financial restated a "strong-buy" rating and issued a $2,750.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. Finally, Wall Street Zen lowered MercadoLibre from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, MercadoLibre currently has an average rating of "Moderate Buy" and an average price target of $2,817.22.

MercadoLibre Stock Performance

Shares of NASDAQ MELI traded up $26.05 during trading hours on Tuesday, reaching $2,373.01. 267,552 shares of the stock were exchanged, compared to its average volume of 331,867. The firm has a market capitalization of $120.31 billion, a price-to-earnings ratio of 58.61, a P/E/G ratio of 1.53 and a beta of 1.49. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22. The stock's fifty day simple moving average is $2,396.74 and its 200 day simple moving average is $2,303.31.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $10.31 earnings per share for the quarter, missing analysts' consensus estimates of $12.01 by ($1.70). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The firm had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.57 billion. During the same quarter last year, the business posted $10.48 EPS. MercadoLibre's revenue for the quarter was up 33.8% on a year-over-year basis. Sell-side 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.