Virtu Financial LLC Has $8.98 Million Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Key Points

• Virtu Financial LLC dramatically increased its stake in MercadoLibre, Inc. by 732.7% in the first quarter, owning 4,605 shares valued at approximately $8.98 million.
• MercadoLibre reported $10.31 EPS for the recent quarter, missing expectations, but its revenue was $6.79 billion, exceeding analyst predictions.
• Institutional investors now hold 87.62% of MercadoLibre's stock, with recent significant investments from firms like Key Financial and GW&K Investment Management.

Virtu Financial LLC raised its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 732.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,605 shares of the company's stock after acquiring an additional 4,052 shares during the period. MercadoLibre makes up about 0.5% of Virtu Financial LLC's portfolio, making the stock its 17th biggest holding. Virtu Financial LLC's holdings in MercadoLibre were worth $8,983,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Key Financial Inc acquired a new position in shares of MercadoLibre during the 1st quarter worth $25,000. GW&K Investment Management LLC bought a new stake in MercadoLibre during the 1st quarter worth $25,000. Close Asset Management Ltd grew its position in MercadoLibre by 366.7% during the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company's stock worth $27,000 after acquiring an additional 11 shares during the last quarter. Park Square Financial Group LLC bought a new stake in MercadoLibre during the 4th quarter worth $26,000. Finally, Covestor Ltd bought a new stake in MercadoLibre during the 4th quarter worth $27,000. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Trading Down 2.6%

Shares of MercadoLibre stock traded down $61.66 on Monday, hitting $2,292.04. 351,316 shares of the company's stock traded hands, compared to its average volume of 343,773. MercadoLibre, Inc. has a one year low of $1,646.00 and a one year high of $2,645.22. 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 company has a fifty day moving average of $2,431.57 and a two-hundred day moving average of $2,250.90. The company has a market capitalization of $116.21 billion, a price-to-earnings ratio of 56.61, a price-to-earnings-growth ratio of 1.47 and a beta of 1.46.

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 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 the consensus estimate of $6.57 billion. During the same quarter in the previous year, the company earned $10.48 EPS. The firm's revenue for the quarter was up 33.8% on a year-over-year basis. As a group, sell-side analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analyst Ratings Changes

MELI has been the topic of a number of research reports. Cantor Fitzgerald restated an "overweight" rating and set a $2,700.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 5th. Citigroup restated a "buy" rating on shares of MercadoLibre in a research report on Friday, June 6th. Jefferies Financial Group restated 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 initiated coverage on MercadoLibre in a research report on Friday, August 1st. They set a "buy" rating and a $3,000.00 price objective on the stock. Finally, Morgan Stanley restated an "overweight" rating on shares of MercadoLibre in a research report on Thursday, May 1st. Three 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 company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price 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.