Pictet North America Advisors SA Invests $16.57 Million in MercadoLibre, Inc. $MELI

Key Points

• Pictet North America Advisors SA invested $16.57 million in MercadoLibre, acquiring a total of 6,340 shares, making it the 19th largest holding in their portfolio.
• MercadoLibre's stock price has seen a 0.3% increase recently, and it has a market cap of approximately $124.76 billion, with a P/E ratio of 60.77.
• Analysts have a consensus rating of "Moderate Buy" on MercadoLibre, with target prices ranging from $2,600 to $3,000 based on recent reports.

Pictet North America Advisors SA acquired a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,340 shares of the company's stock, valued at approximately $16,570,000. MercadoLibre accounts for about 1.6% of Pictet North America Advisors SA's portfolio, making the stock its 19th largest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Key Financial Inc bought a new position in MercadoLibre during the 1st quarter valued at about $25,000. GW&K Investment Management LLC bought a new position in MercadoLibre during the 1st quarter valued at about $25,000. Park Square Financial Group LLC bought a new position in MercadoLibre during the 4th quarter valued at about $26,000. Close Asset Management Ltd lifted its holdings in MercadoLibre by 366.7% during the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company's stock valued at $27,000 after purchasing an additional 11 shares during the last quarter. Finally, Brooklyn Investment Group lifted its holdings in MercadoLibre by 650.0% during the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company's stock valued at $29,000 after purchasing an additional 13 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

MercadoLibre Stock Up 0.3%

Shares of NASDAQ MELI opened at $2,460.66 on Tuesday. The stock has a market cap of $124.76 billion, a P/E ratio of 60.77, a P/E/G ratio of 1.60 and a beta of 1.49. The firm has a 50 day moving average price of $2,383.72 and a 200 day moving average price of $2,323.05. 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.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $12.01 by ($1.70). MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The firm had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.57 billion. During the same quarter in the prior year, the firm posted $10.48 EPS. The firm's revenue for the quarter was up 33.8% compared to the same quarter last year. Analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Wall Street Analysts Forecast Growth

MELI has been the subject of several analyst reports. JPMorgan Chase & Co. lifted their price target 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. Daiwa Capital Markets assumed coverage on shares of MercadoLibre in a research note on Friday, August 1st. They issued a "buy" rating and a $3,000.00 target price for the company. Benchmark reaffirmed a "buy" rating and issued a $2,875.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $2,750.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. Finally, Jefferies Financial Group reaffirmed a "hold" rating and issued a $2,800.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, MercadoLibre has a consensus rating of "Moderate Buy" and a consensus target price of $2,817.22.

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.

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