Silvant Capital Management LLC Increases Stake in MercadoLibre, Inc. $MELI

Key Points

• Silvant Capital Management LLC increased its stake in MercadoLibre, Inc. by 6.9% in Q1, now holding 10,467 shares valued at approximately $20.42 million.
• MercadoLibre reported $10.31 EPS for the last quarter, missing expectations, but achieved a 33.8% year-over-year revenue growth with revenue of $6.79 billion.
• The stock has received multiple upgrades from analysts, with a consensus rating of "Moderate Buy" and an average price target of $2,817.22.

Silvant Capital Management LLC increased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 6.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,467 shares of the company's stock after buying an additional 676 shares during the period. MercadoLibre comprises approximately 0.9% of Silvant Capital Management LLC's investment portfolio, making the stock its 22nd largest holding. Silvant Capital Management LLC's holdings in MercadoLibre were worth $20,420,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Meiji Yasuda Life Insurance Co grew its holdings in shares of MercadoLibre by 0.5% during the 4th quarter. Meiji Yasuda Life Insurance Co now owns 999 shares of the company's stock worth $1,699,000 after purchasing an additional 5 shares during the period. Formidable Asset Management LLC grew its holdings in shares of MercadoLibre by 3.2% during the 4th quarter. Formidable Asset Management LLC now owns 160 shares of the company's stock worth $272,000 after purchasing an additional 5 shares during the period. Revolve Wealth Partners LLC grew its holdings in shares of MercadoLibre by 4.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 118 shares of the company's stock worth $201,000 after purchasing an additional 5 shares during the period. Sonora Investment Management Group LLC grew its holdings in shares of MercadoLibre by 3.1% during the 1st quarter. Sonora Investment Management Group LLC now owns 168 shares of the company's stock worth $328,000 after purchasing an additional 5 shares during the period. Finally, Beacon Capital Management LLC grew its holdings in shares of MercadoLibre by 8.3% during the 1st quarter. Beacon Capital Management LLC now owns 65 shares of the company's stock worth $127,000 after purchasing an additional 5 shares during the period. Hedge funds and other institutional investors own 87.62% of the company's stock.

MercadoLibre Trading Up 0.0%

NASDAQ MELI traded up $0.62 during trading on Friday, hitting $2,472.91. The stock had a trading volume of 292,481 shares, compared to its average volume of 390,755. The company has a market capitalization of $125.38 billion, a PE ratio of 61.07, a PEG ratio of 1.61 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 50 day moving average price of $2,413.70 and a 200 day moving average price of $2,290.26. 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 released its 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 during the quarter, compared to analyst estimates of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The business's revenue was up 33.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $10.48 earnings per share. As a group, equities research analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MELI. Cantor Fitzgerald reiterated an "overweight" rating and set a $2,700.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. JPMorgan Chase & Co. increased their price target on MercadoLibre from $2,600.00 to $2,700.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Benchmark reiterated a "buy" rating and set a $2,875.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Daiwa Capital Markets started coverage on MercadoLibre in a report on Friday, August 1st. They set a "buy" rating and a $3,000.00 price target for the company. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $2,750.00 target price on shares of MercadoLibre in a research report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $2,817.22.

MercadoLibre 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.