Trillium Asset Management LLC Grows Position in MercadoLibre, Inc. (NASDAQ:MELI)

Key Points

• Trillium Asset Management LLC increased its stake in MercadoLibre, Inc. by 80.4%, owning a total of 18,145 shares valued at approximately $35.4 million as of their latest SEC filing.
• MercadoLibre recently reported $10.31 EPS, missing analysts' expectations, despite revenue growth of 33.8% year-over-year, reaching $6.79 billion.
• Multiple analysts have set optimistic price targets for MercadoLibre, with estimates ranging from $2,700 to $3,000, indicating a generally positive outlook on the stock.

Trillium Asset Management LLC raised its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 80.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,145 shares of the company's stock after purchasing an additional 8,085 shares during the quarter. Trillium Asset Management LLC's holdings in MercadoLibre were worth $35,399,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Capital International Investors raised its stake in MercadoLibre by 38.7% in the fourth quarter. Capital International Investors now owns 1,687,114 shares of the company's stock valued at $2,868,869,000 after purchasing an additional 470,829 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in MercadoLibre by 41.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company's stock worth $2,370,848,000 after acquiring an additional 405,425 shares in the last quarter. Capital World Investors raised its stake in MercadoLibre by 24.5% during the fourth quarter. Capital World Investors now owns 1,568,602 shares of the company's stock worth $2,667,386,000 after acquiring an additional 308,973 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of MercadoLibre by 8.0% during the fourth quarter. Capital Research Global Investors now owns 2,415,815 shares of the company's stock worth $4,108,079,000 after purchasing an additional 179,807 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of MercadoLibre by 170.9% during the first quarter. Assenagon Asset Management S.A. now owns 274,960 shares of the company's stock worth $536,411,000 after purchasing an additional 173,449 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Stock Performance

Shares of MELI stock traded down $23.53 on Wednesday, hitting $2,327.30. 313,716 shares of the stock were exchanged, compared to its average volume of 358,235. 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 firm has a market capitalization of $117.99 billion, a PE ratio of 57.48, a P/E/G ratio of 1.49 and a beta of 1.46. MercadoLibre, Inc. has a one year low of $1,646.00 and a one year high of $2,645.22. The firm's 50 day moving average is $2,421.61 and its two-hundred day moving average is $2,252.11.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing the consensus estimate of $12.01 by ($1.70). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%. The company had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.57 billion. During the same quarter in the prior year, the business earned $10.48 EPS. The firm's revenue for the quarter was up 33.8% compared to the same quarter last year. Sell-side analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MELI. Daiwa Capital Markets began coverage on MercadoLibre in a report on Friday, August 1st. They set a "buy" rating and a $3,000.00 price target on the stock. The Goldman Sachs Group boosted their price target on MercadoLibre from $2,640.00 to $3,000.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $2,750.00 target price on shares of MercadoLibre in a research report on Tuesday, August 5th. Benchmark reaffirmed a "buy" rating and set a $2,875.00 target price on shares of MercadoLibre in a research report on Tuesday, August 5th. Finally, Wedbush lowered their price target on MercadoLibre from $2,800.00 to $2,700.00 and set an "outperform" rating for the company in a research report on Tuesday, August 5th. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, MercadoLibre presently has an average rating of "Moderate Buy" and an average price target of $2,795.00.

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.