SWS Partners Purchases 686 Shares of MercadoLibre, Inc. $MELI

Key Points

• SWS Partners increased its holdings in MercadoLibre, Inc. by 68.8%, purchasing an additional 686 shares, bringing their total to 1,683 shares valued at approximately $4.4 million.
• Despite increasing institutional interest, including significant purchases by Jennison Associates and Invesco, Wall Street Zen downgraded MercadoLibre from a "buy" to a "hold" rating.
• MercadoLibre recently reported earnings of $10.31 per share, missing analysts' expectations, but recorded a revenue increase of 33.8% compared to the previous year.

SWS Partners grew its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 68.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,683 shares of the company's stock after purchasing an additional 686 shares during the quarter. MercadoLibre makes up about 1.2% of SWS Partners' investment portfolio, making the stock its 21st largest position. SWS Partners' holdings in MercadoLibre were worth $4,400,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Jennison Associates LLC increased its position in shares of MercadoLibre by 1.6% during the 1st quarter. Jennison Associates LLC now owns 1,154,116 shares of the company's stock valued at $2,251,531,000 after purchasing an additional 18,731 shares during the last quarter. Invesco Ltd. increased its position in shares of MercadoLibre by 22.4% during the 1st quarter. Invesco Ltd. now owns 570,967 shares of the company's stock valued at $1,113,881,000 after purchasing an additional 104,554 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of MercadoLibre by 21.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company's stock valued at $1,073,823,000 after purchasing an additional 96,283 shares during the last quarter. Generation Investment Management LLP increased its position in shares of MercadoLibre by 3.3% during the 1st quarter. Generation Investment Management LLP now owns 530,564 shares of the company's stock valued at $1,035,061,000 after purchasing an additional 16,878 shares during the last quarter. Finally, GQG Partners LLC increased its position in shares of MercadoLibre by 23.5% during the 1st quarter. GQG Partners LLC now owns 461,875 shares of the company's stock valued at $901,058,000 after purchasing an additional 87,912 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Wall Street Zen lowered MercadoLibre from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. Scotiabank assumed coverage on MercadoLibre in a research report on Monday, July 28th. They set a "sector outperform" rating and a $3,500.00 price target on the stock. Benchmark restated a "buy" rating and set a $2,875.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. Raymond James Financial restated a "strong-buy" rating and set a $2,750.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. Finally, Daiwa Capital Markets assumed coverage on MercadoLibre in a research report on Friday, August 1st. They set a "buy" rating and a $3,000.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $2,828.33.

MercadoLibre Price Performance

Shares of MELI stock opened at $2,468.42 on Monday. The firm has a market cap of $125.15 billion, a P/E ratio of 60.96, a P/E/G ratio of 1.61 and a beta of 1.49. MercadoLibre, Inc. has a fifty-two week low of $1,646.00 and a fifty-two week high of $2,645.22. The business's 50 day moving average price is $2,391.84 and its 200-day moving average price is $2,337.29. 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 (NASDAQ:MELI - Get Free Report) last issued 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%.MercadoLibre's quarterly revenue was up 33.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $10.48 earnings per share. On average, equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

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.

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