BTG Pactual Global Asset Management Ltd lessened its stake in MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 18.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,876 shares of the company’s stock after selling 638 shares during the quarter. MercadoLibre makes up 0.7% of BTG Pactual Global Asset Management Ltd’s holdings, making the stock its 22nd biggest position. BTG Pactual Global Asset Management Ltd’s holdings in MercadoLibre were worth $3,407,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently made changes to their positions in MELI. Baillie Gifford & Co. lifted its holdings in MercadoLibre by 4.3% during the 2nd quarter. Baillie Gifford & Co. now owns 6,389,959 shares of the company’s stock valued at $7,569,545,000 after purchasing an additional 262,306 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of MercadoLibre by 1.0% during the second quarter. Jennison Associates LLC now owns 2,205,335 shares of the company’s stock worth $2,612,439,000 after buying an additional 21,392 shares in the last quarter. FMR LLC lifted its holdings in shares of MercadoLibre by 60.2% during the first quarter. FMR LLC now owns 675,219 shares of the company’s stock worth $889,979,000 after buying an additional 253,864 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of MercadoLibre by 30.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 474,855 shares of the company’s stock worth $401,841,000 after buying an additional 111,751 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its holdings in shares of MercadoLibre by 14.2% during the first quarter. William Blair Investment Management LLC now owns 366,157 shares of the company’s stock worth $482,617,000 after buying an additional 45,580 shares in the last quarter. Institutional investors and hedge funds own 80.01% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on the company. New Street Research raised MercadoLibre from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $1,400.00 to $1,650.00 in a report on Friday, September 1st. JPMorgan Chase & Co. lifted their target price on MercadoLibre from $1,700.00 to $2,000.00 and gave the stock an “overweight” rating in a report on Monday, August 7th. Jefferies Financial Group dropped their target price on MercadoLibre from $1,400.00 to $1,300.00 and set a “hold” rating for the company in a report on Tuesday, July 25th. TheStreet upgraded MercadoLibre from a “c+” rating to a “b-” rating in a research report on Wednesday, September 6th. Finally, Barclays raised their price target on MercadoLibre from $1,575.00 to $1,625.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 8th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,643.21.
MercadoLibre Price Performance
MercadoLibre stock traded down $21.55 during midday trading on Friday, reaching $1,448.00. The company’s stock had a trading volume of 504,104 shares, compared to its average volume of 440,980. MercadoLibre, Inc. has a 52 week low of $815.85 and a 52 week high of $1,485.95. The company has a current ratio of 1.27, a quick ratio of 1.24 and a debt-to-equity ratio of 0.80. The business has a 50-day moving average price of $1,296.52 and a 200-day moving average price of $1,267.20. The stock has a market cap of $73.21 billion, a PE ratio of 74.10, a price-to-earnings-growth ratio of 1.44 and a beta of 1.54.
MercadoLibre (NASDAQ:MELI – Get Free Report) last released its earnings results on Wednesday, November 1st. The company reported $7.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.88 by $1.28. MercadoLibre had a return on equity of 44.56% and a net margin of 7.47%. The firm had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter in the previous year, the business posted $2.56 earnings per share. The business’s revenue for the quarter was up 43.0% on a year-over-year basis. On average, sell-side analysts predict that MercadoLibre, Inc. will post 21.83 EPS for the current year.
MercadoLibre Company Profile
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.
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