796 Shares in MercadoLibre, Inc. $MELI Acquired by Figure 8 Investment Strategies LLC

Figure 8 Investment Strategies LLC bought a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 796 shares of the company’s stock, valued at approximately $1,351,000.

Several other institutional investors also recently bought and sold shares of the company. Capital Research Global Investors increased its position in shares of MercadoLibre by 22.5% during the fourth quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock worth $4,481,812,000 after purchasing an additional 408,939 shares in the last quarter. Capital International Investors boosted its position in shares of MercadoLibre by 7.3% in the 4th quarter. Capital International Investors now owns 1,725,125 shares of the company’s stock worth $3,474,880,000 after purchasing an additional 118,018 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in MercadoLibre by 9.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company’s stock worth $3,188,718,000 after buying an additional 137,100 shares during the last quarter. BlackRock Inc. purchased a new position in MercadoLibre during the 2nd quarter worth $2,246,015,000. Finally, Janus Henderson Group PLC increased its position in MercadoLibre by 1.7% during the 1st quarter. Janus Henderson Group PLC now owns 614,238 shares of the company’s stock valued at $1,062,019,000 after buying an additional 10,142 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Price Performance

Shares of MELI opened at $1,779.14 on Wednesday. The business’s 50-day moving average is $1,773.74 and its two-hundred day moving average is $1,778.68. The company has a market capitalization of $90.20 billion, a P/E ratio of 48.39, a P/E/G ratio of 1.26 and a beta of 1.34. MercadoLibre, Inc. has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,548.50. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $9.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.65 by $0.54. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The business had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.79 billion. During the same quarter in the previous year, the firm posted $10.31 EPS. The company’s revenue for the quarter was up 49.8% on a year-over-year basis. Research analysts predict that MercadoLibre, Inc. will post 39.11 earnings per share for the current year.

Analysts Set New Price Targets

MELI has been the subject of several recent analyst reports. Cantor Fitzgerald raised their price target on MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Citigroup upped their price objective on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. JPMorgan Chase & Co. increased their price objective on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. Zacks Research raised shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Finally, UBS Group decreased their price target on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Eleven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,272.00.

Insiders Place Their Bets

In related news, Director Alejandro Nicolas Aguzin purchased 600 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was bought at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the acquisition, the director owned 5,355 shares of the company’s stock, valued at $8,867,505.15. The trade was a 12.62% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.26% of the company’s stock.

MercadoLibre Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.