Townsquare Capital LLC Increases Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Key Points

• Townsquare Capital LLC increased its holdings in MercadoLibre by 16.1% during Q1, owning 3,434 shares worth approximately $6.7 million.
• MercadoLibre reported Q2 earnings of $10.31 EPS, missing analysts' expectations, but saw a 33.8% increase in revenue year-over-year to $6.79 billion.
• Research analysts maintain a consensus rating of "Moderate Buy" for MercadoLibre, with price targets ranging from $2,700 to $2,975.

Townsquare Capital LLC increased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 16.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,434 shares of the company's stock after buying an additional 477 shares during the period. Townsquare Capital LLC's holdings in MercadoLibre were worth $6,699,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MELI. Bank Pictet & Cie Europe AG purchased a new position in shares of MercadoLibre during the 4th quarter valued at approximately $561,000. Scotia Capital Inc. lifted its position in shares of MercadoLibre by 124.6% during the 4th quarter. Scotia Capital Inc. now owns 584 shares of the company's stock valued at $993,000 after buying an additional 324 shares in the last quarter. Treasurer of the State of North Carolina lifted its position in shares of MercadoLibre by 139.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 599 shares of the company's stock valued at $1,019,000 after buying an additional 349 shares in the last quarter. Covestor Ltd purchased a new position in MercadoLibre in the 4th quarter valued at $27,000. Finally, Optimize Financial Inc purchased a new position in MercadoLibre in the 4th quarter valued at $398,000. Hedge funds and other institutional investors own 87.62% of the company's stock.

MercadoLibre Stock Up 0.8%

Shares of NASDAQ:MELI opened at $2,353.70 on Friday. The business has a 50-day moving average price of $2,437.60 and a 200 day moving average price of $2,244.85. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $119.33 billion, a price-to-earnings ratio of 58.13, a PEG ratio of 1.44 and a beta of 1.46. 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 announced its earnings results on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing analysts' consensus estimates of $12.01 by ($1.70). MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The firm had revenue of $6.79 billion for the quarter, compared to analysts' expectations of $6.57 billion. During the same quarter last year, the business earned $10.48 earnings per share. The business's revenue was up 33.8% compared to the same quarter last year. Sell-side analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Susquehanna restated a "positive" rating and issued a $2,975.00 price objective (up previously from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. Barclays decreased their price objective on MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. Wedbush decreased their price objective on MercadoLibre from $2,800.00 to $2,700.00 and set an "outperform" rating on the stock in a report on Tuesday. JPMorgan Chase & Co. raised their price objective on MercadoLibre from $2,600.00 to $2,700.00 and gave the company a "neutral" rating in a report on Thursday. Finally, Benchmark restated a "buy" rating and issued a $2,875.00 price objective on shares of MercadoLibre in a report on Tuesday, August 5th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus 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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