Skerryvore Asset Management Ltd Has $26.48 Million Stock Holdings in MercadoLibre, Inc. $MELI

Key Points

• Skerryvore Asset Management Ltd reduced its holdings in MercadoLibre, Inc. by 2.9%, now owning 13,575 shares valued at approximately $26.48 million, making it their second biggest position.
• Various institutional investors, including Meiji Yasuda Life Insurance Co. and Revolve Wealth Partners LLC, have made increases in their holdings of MercadoLibre, with a total of 87.62% of the stock owned by institutional investors.
• Analysts have mixed ratings on MercadoLibre, with one giving a Strong Buy, while others issued hold ratings and set price objectives ranging up to $3,000.

Skerryvore Asset Management Ltd lowered its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 2.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,575 shares of the company's stock after selling 411 shares during the period. MercadoLibre makes up 21.5% of Skerryvore Asset Management Ltd's investment portfolio, making the stock its 2nd largest position. Skerryvore Asset Management Ltd's holdings in MercadoLibre were worth $26,483,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of MELI. Meiji Yasuda Life Insurance Co raised its stake in shares of MercadoLibre by 0.5% in the fourth 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 last quarter. Formidable Asset Management LLC raised its stake in shares of MercadoLibre by 3.2% in the fourth 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 last quarter. Revolve Wealth Partners LLC raised its stake in shares of MercadoLibre by 4.4% in the fourth 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 last quarter. Sonora Investment Management Group LLC increased its position in MercadoLibre by 3.1% during the first quarter. Sonora Investment Management Group LLC now owns 168 shares of the company's stock valued at $328,000 after acquiring an additional 5 shares during the last quarter. Finally, Beacon Capital Management LLC increased its position in MercadoLibre by 8.3% during the first quarter. Beacon Capital Management LLC now owns 65 shares of the company's stock valued at $127,000 after acquiring an additional 5 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.

Wall Street Analysts Forecast Growth

MELI has been the subject of a number of research reports. Morgan Stanley reiterated an "overweight" rating on shares of MercadoLibre in a research report on Thursday, May 1st. Scotiabank initiated coverage on MercadoLibre in a research report on Monday, July 28th. They set a "sector outperform" rating and a $3,500.00 price objective for the company. Jefferies Financial Group reiterated a "hold" rating and set a $2,800.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 5th. Daiwa Capital Markets began coverage on MercadoLibre in a research report on Friday, August 1st. They set a "buy" rating and a $3,000.00 price objective for the company. Finally, Barclays reduced their price target on MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating for the company in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $2,817.22.

MercadoLibre Price Performance

Shares of NASDAQ MELI traded up $58.86 during mid-day trading on Thursday, reaching $2,472.29. The company's stock had a trading volume of 373,052 shares, compared to its average volume of 385,000. The firm has a market capitalization of $125.35 billion, a PE ratio of 61.06, a P/E/G ratio of 1.57 and a beta of 1.46. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. The stock has a fifty day moving average of $2,410.93 and a two-hundred day moving average of $2,282.38. 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 released its quarterly earnings data 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 the consensus estimate of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The business's revenue was up 33.8% on a year-over-year basis. During the same period last year, the company earned $10.48 EPS. As a group, sell-side analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal 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.