Raymond James & Associates Boosts Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Raymond James & Associates increased its holdings in MercadoLibre, Inc. (NASDAQ:MELIGet Rating) by 5.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 21,084 shares of the company’s stock after acquiring an additional 1,017 shares during the period. Raymond James & Associates’ holdings in MercadoLibre were worth $17,453,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in MELI. Baillie Gifford & Co. grew its position in MercadoLibre by 7.8% in the second quarter. Baillie Gifford & Co. now owns 5,425,927 shares of the company’s stock worth $3,455,611,000 after acquiring an additional 390,604 shares during the period. Renaissance Technologies LLC purchased a new position in MercadoLibre in the second quarter worth approximately $89,968,000. Dynamo Internacional Gestao DE Recursos LTDA. grew its position in MercadoLibre by 57.5% in the second quarter. Dynamo Internacional Gestao DE Recursos LTDA. now owns 307,242 shares of the company’s stock worth $195,673,000 after acquiring an additional 112,170 shares during the period. RWC Asset Advisors US LLC grew its position in MercadoLibre by 82.9% in the second quarter. RWC Asset Advisors US LLC now owns 247,059 shares of the company’s stock worth $157,345,000 after acquiring an additional 111,976 shares during the period. Finally, Mirova US LLC grew its position in MercadoLibre by 122.2% in the second quarter. Mirova US LLC now owns 184,092 shares of the company’s stock worth $117,241,000 after acquiring an additional 101,244 shares during the period. 80.49% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Stock Up 2.0 %

Shares of NASDAQ MELI opened at $873.47 on Monday. The stock has a market cap of $43.93 billion, a P/E ratio of 162.66 and a beta of 1.53. The company has a current ratio of 1.34, a quick ratio of 1.31 and a debt-to-equity ratio of 1.68. MercadoLibre, Inc. has a 12-month low of $600.68 and a 12-month high of $1,275.82. The business’s fifty day simple moving average is $901.14 and its 200-day simple moving average is $864.85.

MercadoLibre (NASDAQ:MELIGet Rating) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.25. MercadoLibre had a return on equity of 17.11% and a net margin of 2.80%. The business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.69 billion. During the same period last year, the firm earned $1.92 earnings per share. The company’s revenue for the quarter was up 41.6% compared to the same quarter last year. As a group, equities analysts predict that MercadoLibre, Inc. will post 8.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MELI has been the subject of several analyst reports. Citigroup increased their price objective on MercadoLibre from $1,050.00 to $1,100.00 in a research report on Friday, December 23rd. StockNews.com began coverage on MercadoLibre in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Credit Suisse Group decreased their price target on MercadoLibre from $1,470.00 to $1,400.00 and set an “outperform” rating on the stock in a research note on Monday, October 31st. Finally, Jefferies Financial Group decreased their price target on MercadoLibre from $990.00 to $970.00 and set a “hold” rating on the stock in a research note on Thursday, October 6th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,322.00.

About MercadoLibre

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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 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.

See Also

Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)

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