Whittier Trust Co. Has $5.71 Million Stake in MercadoLibre, Inc. $MELI

Key Points

• Whittier Trust Co. increased its stake in MercadoLibre, Inc. by 26.6% during Q2, now holding a total of 2,183 shares valued at approximately $5.71 million.
• Several institutional investors, including Invesco Ltd. and GQG Partners LLC, also grew their investments in MercadoLibre, contributing to a high institutional ownership of 87.62%.
• Analysts maintain a consensus rating of "Moderate Buy" for MercadoLibre, with price targets ranging from $2,600 to $3,500, reflecting a generally positive outlook despite a recent earnings miss.

Whittier Trust Co. increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 26.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,183 shares of the company's stock after buying an additional 459 shares during the period. Whittier Trust Co.'s holdings in MercadoLibre were worth $5,706,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Benchmark reiterated a "buy" rating and issued a $2,875.00 price objective on shares of MercadoLibre in a report on Tuesday. JPMorgan Chase & Co. dropped their price objective on shares of MercadoLibre from $2,700.00 to $2,600.00 and set a "neutral" rating on the stock in a research report on Friday, October 3rd. Susquehanna cut their price objective on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a "positive" rating for the company in a research report on Monday, October 13th. Scotiabank began coverage on shares of MercadoLibre in a research report on Monday, July 28th. They set a "sector outperform" rating and a $3,500.00 price objective for the company. Finally, Weiss Ratings restated a "buy (b)" rating on shares of MercadoLibre in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $2,799.12.

MercadoLibre Trading Up 1.9%

MELI stock opened at $2,142.05 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. The company's 50-day simple moving average is $2,328.33 and its 200 day simple moving average is $2,352.79. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22. The company has a market capitalization of $108.60 billion, a PE ratio of 52.90, a price-to-earnings-growth ratio of 1.42 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly 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 during the quarter, compared to analyst estimates of $6.57 billion. During the same quarter last year, the company posted $10.48 earnings per share. The company's revenue was up 33.8% on a year-over-year basis. As a group, sell-side analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.