William Blair Investment Management LLC increased its stake in MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 5.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 387,611 shares of the company’s stock after purchasing an additional 21,454 shares during the period. MercadoLibre accounts for about 1.5% of William Blair Investment Management LLC’s portfolio, making the stock its 8th largest position. William Blair Investment Management LLC owned about 0.77% of MercadoLibre worth $459,164,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of MELI. AXA S.A. grew its holdings in MercadoLibre by 10.3% in the first quarter. AXA S.A. now owns 25,999 shares of the company’s stock valued at $34,268,000 after purchasing an additional 2,421 shares during the period. Brighton Jones LLC purchased a new stake in MercadoLibre in the 1st quarter valued at about $369,000. Fifth Third Bancorp raised its holdings in MercadoLibre by 89.0% in the 2nd quarter. Fifth Third Bancorp now owns 966 shares of the company’s stock valued at $1,144,000 after buying an additional 455 shares during the period. Deuterium Capital Management LLC purchased a new stake in MercadoLibre during the first quarter worth about $815,000. Finally, Skandinaviska Enskilda Banken AB publ increased its stake in MercadoLibre by 0.3% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 8,250 shares of the company’s stock worth $10,874,000 after purchasing an additional 22 shares during the period. 80.01% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of analysts have issued reports on MELI shares. Susquehanna boosted their price target on shares of MercadoLibre from $1,500.00 to $1,620.00 and gave the stock a “positive” rating in a research note on Monday, September 18th. TheStreet raised MercadoLibre from a “c+” rating to a “b-” rating in a research report on Wednesday, September 6th. Citigroup boosted their price objective on MercadoLibre from $1,500.00 to $1,550.00 in a research report on Wednesday, August 9th. New Street Research raised MercadoLibre from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $1,400.00 to $1,650.00 in a research report on Friday, September 1st. Finally, The Goldman Sachs Group boosted their price objective on MercadoLibre from $1,910.00 to $2,180.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average target price of $1,643.21.
MercadoLibre Stock Performance
Shares of MercadoLibre stock traded up $22.48 during trading hours on Monday, hitting $1,470.48. 235,639 shares of the company were exchanged, compared to its average volume of 482,657. MercadoLibre, Inc. has a 1 year low of $815.85 and a 1 year 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 of $1,296.52 and a 200-day moving average of $1,267.11. The stock has a market capitalization of $74.35 billion, a price-to-earnings ratio of 74.10, a P/E/G ratio of 1.44 and a beta of 1.54.
MercadoLibre (NASDAQ:MELI – Get Free Report) last released its quarterly earnings results on Wednesday, November 1st. The company reported $7.16 EPS for the quarter, topping the consensus estimate of $5.88 by $1.28. The business had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.57 billion. MercadoLibre had a return on equity of 44.56% and a net margin of 7.47%. The company’s quarterly revenue was up 43.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.56 earnings per share. As a group, analysts expect that MercadoLibre, Inc. will post 21.83 EPS for the current fiscal 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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