Eleva Capital SAS Invests $3.28 Million in MercadoLibre, Inc. $MELI

Eleva Capital SAS bought a new position 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 & Exchange Commission. The firm bought 1,255 shares of the company’s stock, valued at approximately $3,280,000. MercadoLibre makes up about 0.7% of Eleva Capital SAS’s holdings, making the stock its 8th biggest position.

A number of other hedge funds and other institutional investors also recently modified their holdings of MELI. Bison Wealth LLC acquired a new stake in shares of MercadoLibre during the fourth quarter worth $206,000. Mather Group LLC. lifted its holdings in shares of MercadoLibre by 115.8% during the first quarter. Mather Group LLC. now owns 41 shares of the company’s stock worth $79,000 after buying an additional 22 shares in the last quarter. Resonant Capital Advisors LLC acquired a new stake in shares of MercadoLibre during the first quarter worth $220,000. Mutual Advisors LLC lifted its holdings in shares of MercadoLibre by 6.5% during the first quarter. Mutual Advisors LLC now owns 874 shares of the company’s stock worth $1,705,000 after buying an additional 53 shares in the last quarter. Finally, D.A. Davidson & CO. lifted its holdings in shares of MercadoLibre by 3.2% during the first quarter. D.A. Davidson & CO. now owns 2,802 shares of the company’s stock worth $5,466,000 after buying an additional 86 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Performance

MercadoLibre stock opened at $2,328.90 on Friday. MercadoLibre, Inc. has a 12-month low of $1,646.00 and a 12-month high of $2,645.22. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. The business’s 50-day moving average price is $2,310.58 and its two-hundred day moving average price is $2,372.51. The stock has a market cap of $118.07 billion, a PE ratio of 56.83, a P/E/G ratio of 1.56 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). MercadoLibre had a net margin of 7.93% and a return on equity of 41.35%. The business had revenue of $7.41 billion during the quarter, compared to the consensus estimate of $7.19 billion. During the same quarter in the prior year, the firm earned $7.83 EPS. The business’s revenue was up 39.5% on a year-over-year basis. As a group, analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MELI. Susquehanna dropped their target price on MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating for the company in a report on Monday, October 13th. Citigroup dropped their target price on MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating for the company in a report on Thursday, October 9th. Benchmark dropped their price target on MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating for the company in a research note on Thursday. Cantor Fitzgerald dropped their price target on MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $2,750.00 price target on shares of MercadoLibre in a research note on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average price target of $2,796.47.

MercadoLibre Profile

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; 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.