Victory Capital Management Inc. Raises Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Victory Capital Management Inc. boosted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELIGet Rating) by 0.3% during the 1st quarter, HoldingsChannel reports. The firm owned 15,296 shares of the company’s stock after purchasing an additional 50 shares during the period. Victory Capital Management Inc.’s holdings in MercadoLibre were worth $14,893,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Capital Research Global Investors grew its position in MercadoLibre by 20.5% during the 4th quarter. Capital Research Global Investors now owns 4,641,606 shares of the company’s stock worth $6,258,766,000 after purchasing an additional 789,308 shares during the last quarter. Jennison Associates LLC grew its position in MercadoLibre by 8.8% during the 4th quarter. Jennison Associates LLC now owns 2,038,209 shares of the company’s stock worth $2,748,321,000 after purchasing an additional 164,347 shares during the last quarter. Capital International Investors grew its position in MercadoLibre by 79.5% during the 4th quarter. Capital International Investors now owns 858,798 shares of the company’s stock worth $1,158,679,000 after purchasing an additional 380,242 shares during the last quarter. Schroder Investment Management Group grew its position in MercadoLibre by 107.8% during the 4th quarter. Schroder Investment Management Group now owns 623,745 shares of the company’s stock worth $841,058,000 after purchasing an additional 323,642 shares during the last quarter. Finally, Norges Bank purchased a new position in MercadoLibre during the 4th quarter worth $476,577,000. 79.61% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Performance

Shares of MELI opened at $1,024.81 on Friday. The company has a current ratio of 1.40, a quick ratio of 1.36 and a debt-to-equity ratio of 1.66. The stock has a market cap of $51.63 billion, a P/E ratio of 216.66 and a beta of 1.68. The company has a 50-day moving average of $737.27 and a two-hundred day moving average of $924.67. MercadoLibre, Inc. has a 12-month low of $600.68 and a 12-month high of $1,970.13.

MercadoLibre (NASDAQ:MELIGet Rating) last announced its earnings results on Wednesday, August 3rd. The company reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.75. MercadoLibre had a net margin of 2.68% and a return on equity of 21.93%. During the same quarter in the previous year, the company earned $1.37 earnings per share. As a group, research analysts predict that MercadoLibre, Inc. will post 6.03 EPS for the current fiscal year.

Analyst Ratings Changes

MELI has been the topic of several analyst reports. New Street Research initiated coverage on shares of MercadoLibre in a report on Wednesday, July 6th. They issued a “buy” rating and a $1,100.00 target price on the stock. Citigroup lowered their target price on shares of MercadoLibre from $1,500.00 to $1,150.00 and set a “buy” rating on the stock in a report on Thursday, June 9th. KGI Securities initiated coverage on shares of MercadoLibre in a report on Monday, June 6th. They issued an “outperform” rating on the stock. StockNews.com raised shares of MercadoLibre from a “sell” rating to a “hold” rating in a report on Thursday. Finally, TheStreet raised shares of MercadoLibre from a “d+” rating to a “c-” rating in a report on Friday, May 6th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, MercadoLibre presently has an average rating of “Moderate Buy” and a consensus target price of $1,392.00.

MercadoLibre Profile

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MercadoLibre, Inc operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; and Mercado Pago FinTech, 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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Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)

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