Rathbones Group PLC Purchases 660 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Key Points

• Rathbones Group PLC increased its stake in MercadoLibre, Inc. by 6.8%, now holding 10,384 shares valued at approximately $20.26 million.
• MercadoLibre reported quarterly earnings of $10.31 per share, missing analysts' expectations of $12.01, but its revenue of $6.79 billion exceeded estimates.
• Goldman Sachs raised its price target for MercadoLibre shares from $2,640 to $3,000, while the average price target among analysts is $2,795 with a consensus rating of "Moderate Buy."

Rathbones Group PLC increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 6.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,384 shares of the company's stock after acquiring an additional 660 shares during the period. Rathbones Group PLC's holdings in MercadoLibre were worth $20,258,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of MELI. Bank Pictet & Cie Europe AG bought a new stake in MercadoLibre during the 4th quarter worth approximately $561,000. Treasurer of the State of North Carolina increased its holdings in MercadoLibre by 139.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 599 shares of the company's stock worth $1,019,000 after acquiring an additional 349 shares during the period. Covestor Ltd purchased a new position in MercadoLibre in the 4th quarter worth approximately $27,000. Sagespring Wealth Partners LLC purchased a new position in MercadoLibre in the 4th quarter worth approximately $345,000. Finally, Synovus Financial Corp grew its stake in MercadoLibre by 10.4% in the 4th quarter. Synovus Financial Corp now owns 1,963 shares of the company's stock worth $3,340,000 after buying an additional 185 shares in the last quarter. Institutional investors own 87.62% of the company's stock.

MercadoLibre Trading Up 2.6%

Shares of MELI opened at $2,350.83 on Wednesday. The stock has a market capitalization of $119.19 billion, a P/E ratio of 58.06, a PEG ratio of 1.46 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. The firm has a fifty day simple moving average of $2,426.54 and a two-hundred day simple moving average of $2,251.59. MercadoLibre, Inc. has a twelve month low of $1,646.00 and a twelve month high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $10.31 earnings per share for the quarter, missing the consensus estimate of $12.01 by ($1.70). The firm had revenue of $6.79 billion for the quarter, compared to analysts' expectations of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The company's quarterly revenue was up 33.8% on a year-over-year basis. During the same period in the previous year, the company earned $10.48 EPS. On average, research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on MELI shares. The Goldman Sachs Group boosted their price target on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Cantor Fitzgerald reissued an "overweight" rating and issued a $2,700.00 price target on shares of MercadoLibre in a research note on Tuesday, August 5th. Benchmark reissued a "buy" rating and issued a $2,875.00 price target on shares of MercadoLibre in a research note on Tuesday, August 5th. Citigroup reaffirmed a "buy" rating on shares of MercadoLibre in a research note on Friday, June 6th. Finally, Susquehanna reaffirmed a "positive" rating and issued a $2,975.00 price objective (up previously from $2,840.00) on shares of MercadoLibre in a research note on Thursday, June 26th. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, MercadoLibre presently has a consensus rating of "Moderate Buy" and an average price target of $2,795.00.

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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