XTX Topco Ltd Invests $652,000 in MercadoLibre, Inc. (NASDAQ:MELI)

Key Points

• XTX Topco Ltd acquired 334 shares of MercadoLibre, Inc. (NASDAQ:MELI), valued at approximately $652,000, during the first quarter, highlighting increasing institutional interest in the stock.
• Wall Street analysts have a generally positive outlook on MercadoLibre, with price targets ranging from $2,700 to $3,500 and an average rating of "Moderate Buy."
• Despite reporting earnings of $10.31 per share, MercadoLibre missed analysts' estimates of $12.01, even as its revenue increased by 33.8% year-over-year.

XTX Topco Ltd purchased a new position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 334 shares of the company's stock, valued at approximately $652,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Key Financial Inc acquired a new stake in MercadoLibre during the 1st quarter worth $25,000. GW&K Investment Management LLC acquired a new stake in MercadoLibre during the 1st quarter worth $25,000. Close Asset Management Ltd boosted its stake 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 purchasing an additional 11 shares during the last quarter. Park Square Financial Group LLC acquired a new stake in MercadoLibre during the 4th quarter worth $26,000. Finally, Covestor Ltd acquired a new stake in MercadoLibre during the 4th quarter worth $27,000. Hedge funds and other institutional investors own 87.62% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on MELI shares. Wedbush lowered their target price on shares of MercadoLibre from $2,800.00 to $2,700.00 and set an "outperform" rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. boosted their price target on shares of MercadoLibre from $2,600.00 to $2,700.00 and gave the company a "neutral" rating in a research report on Thursday. The Goldman Sachs Group boosted their price target on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Benchmark reissued a "buy" rating and set a $2,875.00 price target on shares of MercadoLibre in a research report on Tuesday. Finally, Daiwa Capital Markets began coverage on shares of MercadoLibre in a research report on Friday, August 1st. They set a "buy" rating and a $3,000.00 price target on the stock. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, MercadoLibre has an average rating of "Moderate Buy" and an average target price of $2,795.00.

MercadoLibre Trading Up 0.8%

NASDAQ MELI traded up $18.88 during trading hours on Friday, reaching $2,353.70. The company had a trading volume of 303,477 shares, compared to its average volume of 345,695. The stock has a 50-day moving average of $2,437.60 and a 200 day moving average of $2,241.91. MercadoLibre, Inc. has a 1-year low of $1,646.00 and a 1-year high of $2,645.22. 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 stock has a market capitalization of $119.33 billion, a P/E ratio of 58.13, a price-to-earnings-growth ratio of 1.43 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $6.57 billion. During the same period in the previous year, the company earned $10.48 EPS. The company's quarterly revenue was up 33.8% compared to the same quarter last year. As a group, research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

MercadoLibre Company 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.