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

Key Points

• Polen Capital Management LLC increased its stake in MercadoLibre, Inc. by 87.3% during the first quarter, now owning 68,534 shares valued at $133.7 million.
• MercadoLibre's shares opened at $2,353.70 with a market cap of $119.33 billion, showing a twelve-month high of $2,645.22 and a low of $1,646.00.
• Despite a revenue increase of 33.8% year-over-year, MercadoLibre reported an EPS of $10.31, missing analysts' expectations of $12.01.

Polen Capital Management LLC raised its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 87.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 68,534 shares of the company's stock after acquiring an additional 31,939 shares during the period. MercadoLibre comprises approximately 0.4% of Polen Capital Management LLC's portfolio, making the stock its 28th biggest holding. Polen Capital Management LLC owned about 0.14% of MercadoLibre worth $133,700,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of MELI. Bank Pictet & Cie Europe AG bought a new position in MercadoLibre during the fourth quarter valued at approximately $561,000. Scotia Capital Inc. boosted its stake in shares of MercadoLibre by 124.6% during the fourth quarter. Scotia Capital Inc. now owns 584 shares of the company's stock valued at $993,000 after purchasing an additional 324 shares during the period. Treasurer of the State of North Carolina boosted its stake in shares of MercadoLibre by 139.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 599 shares of the company's stock valued at $1,019,000 after purchasing an additional 349 shares during the period. Covestor Ltd purchased a new stake in shares of MercadoLibre during the fourth quarter valued at approximately $27,000. Finally, Townsquare Capital LLC boosted its stake in shares of MercadoLibre by 65.9% during the fourth quarter. Townsquare Capital LLC now owns 2,957 shares of the company's stock valued at $5,028,000 after purchasing an additional 1,175 shares during the period. 87.62% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MELI has been the subject of a number of analyst reports. Susquehanna reissued a "positive" rating and set a $2,975.00 price objective (up previously from $2,840.00) on shares of MercadoLibre in a research note on Thursday, June 26th. Raymond James Financial reissued a "strong-buy" rating and set a $2,750.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. Citigroup reissued a "buy" rating on shares of MercadoLibre in a research note on Friday, June 6th. Morgan Stanley reissued an "overweight" rating on shares of MercadoLibre in a research note on Thursday, May 1st. Finally, Wall Street Zen lowered MercadoLibre from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $2,795.00.

MercadoLibre Stock Down 2.6%

Shares of NASDAQ:MELI traded down $61.66 during midday trading on Monday, reaching $2,292.04. The company's stock had a trading volume of 351,316 shares, compared to its average volume of 343,773. The firm has a 50 day moving average of $2,431.57 and a 200-day moving average of $2,250.90. The firm has a market capitalization of $116.21 billion, a P/E ratio of 56.61, a PEG ratio of 1.47 and a beta of 1.46. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. MercadoLibre, Inc. has a 12-month low of $1,646.00 and a 12-month high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released 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). The business had revenue of $6.79 billion during the quarter, compared to analysts' expectations of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%. The firm's quarterly revenue was up 33.8% compared to the same quarter last year. During the same period in the prior year, the company earned $10.48 earnings per share. On average, research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current 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.