MercadoLibre, Inc. $MELI Shares Purchased by Silvant Capital Management LLC

Silvant Capital Management LLC boosted its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 4.0% during the third quarter, Holdings Channel reports. The institutional investor owned 10,959 shares of the company’s stock after buying an additional 419 shares during the period. MercadoLibre makes up 0.9% of Silvant Capital Management LLC’s portfolio, making the stock its 19th biggest holding. Silvant Capital Management LLC’s holdings in MercadoLibre were worth $25,611,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Darwin Wealth Management LLC purchased a new position in shares of MercadoLibre during the 2nd quarter worth about $29,000. Steigerwald Gordon & Koch Inc. purchased a new stake in MercadoLibre in the third quarter valued at approximately $35,000. Cullen Frost Bankers Inc. increased its position in MercadoLibre by 100.0% during the third quarter. Cullen Frost Bankers Inc. now owns 16 shares of the company’s stock worth $37,000 after purchasing an additional 8 shares during the last quarter. Rothschild Investment LLC raised its stake in MercadoLibre by 35.7% during the third quarter. Rothschild Investment LLC now owns 19 shares of the company’s stock worth $44,000 after purchasing an additional 5 shares during the period. Finally, Abich Financial Wealth Management LLC purchased a new position in MercadoLibre during the third quarter worth approximately $47,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Itau BBA Securities reissued an “outperform” rating on shares of MercadoLibre in a research note on Wednesday, February 25th. Weiss Ratings cut MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, January 8th. Barclays lowered their price target on MercadoLibre from $2,900.00 to $2,600.00 and set an “overweight” rating for the company in a research report on Wednesday, February 25th. Zacks Research upgraded MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Friday, February 6th. Finally, Morgan Stanley cut their price objective on MercadoLibre from $2,800.00 to $2,600.00 and set an “overweight” rating on the stock in a report on Monday, March 9th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and an average price target of $2,725.33.

MercadoLibre Price Performance

MELI stock opened at $1,728.14 on Wednesday. The firm has a market cap of $87.62 billion, a P/E ratio of 43.86, a price-to-earnings-growth ratio of 0.93 and a beta of 1.48. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.15 and a current ratio of 1.17. MercadoLibre, Inc. has a 1 year low of $1,631.18 and a 1 year high of $2,645.22. The stock has a 50-day simple moving average of $1,978.71 and a 200-day simple moving average of $2,104.96.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Tuesday, February 24th. The company reported $11.03 EPS for the quarter, missing the consensus estimate of $11.66 by ($0.63). MercadoLibre had a return on equity of 33.73% and a net margin of 6.91%.The company had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.45 billion. During the same period last year, the firm posted $12.61 earnings per share. The business’s revenue was up 44.6% on a year-over-year basis. On average, equities analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

MercadoLibre Company 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.