Whittier Trust Co. of Nevada Inc. Boosts Stock Holdings in MercadoLibre, Inc. $MELI

Key Points

• Whittier Trust Co. of Nevada Inc. increased its stock holdings in MercadoLibre, Inc. by 52.5%, owning 1,203 shares valued at approximately $3.14 million after purchasing an additional 414 shares in the second quarter.
• Wall Street analysts are generally optimistic about MercadoLibre's future, with a consensus rating of "Moderate Buy" and an average target price of $2,799.12.
• Despite missing earnings expectations, MercadoLibre reported a 33.8% increase in revenue year-over-year, totaling $6.79 billion for the quarter.

Whittier Trust Co. of Nevada Inc. raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 52.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,203 shares of the company's stock after purchasing an additional 414 shares during the period. Whittier Trust Co. of Nevada Inc.'s holdings in MercadoLibre were worth $3,144,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Key Financial Inc purchased a new position in shares of MercadoLibre in the first quarter worth about $25,000. GW&K Investment Management LLC purchased a new position in shares of MercadoLibre in the first quarter worth about $25,000. Close Asset Management Ltd increased its stake in shares of 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 purchasing an additional 11 shares in the last quarter. Highline Wealth Partners LLC increased its stake in shares of MercadoLibre by 366.7% in the second quarter. Highline Wealth Partners LLC now owns 14 shares of the company's stock worth $37,000 after purchasing an additional 11 shares in the last quarter. Finally, Brooklyn Investment Group increased its stake in shares of MercadoLibre by 650.0% in the first quarter. Brooklyn Investment Group now owns 15 shares of the company's stock worth $29,000 after purchasing an additional 13 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.

Wall Street Analysts Forecast Growth

MELI has been the subject of several recent research reports. Wedbush set a $2,700.00 target price on shares of MercadoLibre and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Citigroup cut their price objective 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, October 9th. Benchmark restated a "buy" rating and issued a $2,875.00 price objective on shares of MercadoLibre in a research report on Tuesday. Jefferies Financial Group restated a "hold" rating and issued a $2,800.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 5th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, MercadoLibre presently has a consensus rating of "Moderate Buy" and an average target price of $2,799.12.

MercadoLibre Trading Up 1.9%

Shares of MercadoLibre stock opened at $2,142.05 on Wednesday. MercadoLibre, Inc. has a 1 year low of $1,646.00 and a 1 year high of $2,645.22. The firm has a market cap of $108.60 billion, a PE ratio of 52.90, a PEG ratio of 1.42 and a beta of 1.46. 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 50 day simple moving average of $2,328.33 and a two-hundred day simple moving average of $2,352.79.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its 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 company 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 firm earned $10.48 earnings per share. The company's revenue for the quarter was up 33.8% compared to the same quarter last year. Analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

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.

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