US Bancorp DE Purchases 2,485 Shares of MercadoLibre, Inc. $MELI

Key Points

• US Bancorp DE increased its stake in MercadoLibre, Inc. by 7.9%, purchasing 2,485 additional shares, bringing its total ownership to approximately 0.07% of the company worth $88.29 million.
• MercadoLibre reported a net margin of 8.52% and a revenue of $6.79 billion for the most recent quarter, surpassing analysts' expectations.
• Analysts are optimistic about MercadoLibre's future, with a consensus rating categorized as "Moderate Buy" and an average price target of $2,814.44.

US Bancorp DE lifted its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 7.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 33,781 shares of the company's stock after purchasing an additional 2,485 shares during the quarter. US Bancorp DE owned about 0.07% of MercadoLibre worth $88,291,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Key Financial Inc bought a new position in shares of MercadoLibre in the first quarter worth $25,000. GW&K Investment Management LLC bought a new position in shares of MercadoLibre in the first quarter worth $25,000. Close Asset Management Ltd grew its position in MercadoLibre by 366.7% in the first quarter. Close Asset Management Ltd now owns 14 shares of the company's stock worth $27,000 after acquiring an additional 11 shares in the last quarter. Brooklyn Investment Group grew its position in MercadoLibre by 650.0% in the first quarter. Brooklyn Investment Group now owns 15 shares of the company's stock worth $29,000 after acquiring an additional 13 shares in the last quarter. Finally, Twin Tree Management LP purchased a new position in MercadoLibre in the first quarter worth $29,000. Institutional investors own 87.62% of the company's stock.

MercadoLibre Stock Performance

NASDAQ MELI opened at $2,275.00 on Friday. The company has a 50-day simple moving average of $2,368.34 and a two-hundred day simple moving average of $2,344.62. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. MercadoLibre, Inc. has a 12-month low of $1,646.00 and a 12-month high of $2,645.22. The firm has a market cap of $115.34 billion, a price-to-earnings ratio of 56.19, a PEG ratio of 1.46 and a beta of 1.46.

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

Wall Street Analysts Forecast Growth

MELI has been the subject of several research reports. Wall Street Zen lowered shares of MercadoLibre from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. Raymond James Financial reiterated a "strong-buy" rating and issued a $2,750.00 target price on shares of MercadoLibre in a research report on Tuesday, August 5th. Weiss Ratings reiterated a "buy (b)" rating on shares of MercadoLibre in a research report on Wednesday. Citigroup cut their target price on shares of MercadoLibre from $2,850.00 to $2,700.00 and set a "buy" rating for the company in a research report on Thursday. Finally, Daiwa Capital Markets initiated coverage on shares of MercadoLibre in a research report on Friday, August 1st. They issued a "buy" rating and a $3,000.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $2,814.44.

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.

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