Fidelis Capital Partners LLC Purchases 59 Shares of MercadoLibre, Inc. $MELI

Fidelis Capital Partners LLC lifted its position in MercadoLibre, Inc. (NASDAQ:MELI) by 15.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 437 shares of the company’s stock after buying an additional 59 shares during the period. Fidelis Capital Partners LLC’s holdings in MercadoLibre were worth $1,142,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Invesco Ltd. increased its position in MercadoLibre by 22.4% during the 1st quarter. Invesco Ltd. now owns 570,967 shares of the company’s stock valued at $1,113,881,000 after purchasing an additional 104,554 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in MercadoLibre by 21.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company’s stock valued at $1,073,823,000 after buying an additional 96,283 shares during the period. GQG Partners LLC raised its stake in MercadoLibre by 23.5% in the first quarter. GQG Partners LLC now owns 461,875 shares of the company’s stock worth $901,058,000 after buying an additional 87,912 shares in the last quarter. Jennison Associates LLC lifted its holdings in MercadoLibre by 7.0% during the second quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock worth $3,228,460,000 after buying an additional 81,124 shares during the period. Finally, Nuveen LLC bought a new stake in MercadoLibre during the 1st quarter valued at $143,367,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on MELI. Daiwa Capital Markets started coverage on MercadoLibre in a research report on Friday, August 1st. They issued a “buy” rating and a $3,000.00 price target for the company. Cantor Fitzgerald reduced their target price on shares of MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. Benchmark lowered their price target on shares of MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. Susquehanna reduced their price objective on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating for the company in a research note on Monday, October 13th. Finally, Wedbush increased their target price on shares of MercadoLibre from $2,700.00 to $2,800.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $2,861.25.

MercadoLibre Stock Performance

Shares of MELI stock opened at $2,092.04 on Tuesday. The business has a fifty day moving average of $2,282.74 and a 200 day moving average of $2,378.38. MercadoLibre, Inc. has a 1 year low of $1,646.00 and a 1 year high of $2,645.22. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. The firm has a market capitalization of $106.06 billion, a price-to-earnings ratio of 51.05, a price-to-earnings-growth ratio of 1.56 and a beta of 1.51.

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

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.