Figure 8 Investment Strategies LLC Boosts Stock Holdings in MercadoLibre, Inc. $MELI

Figure 8 Investment Strategies LLC increased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 130.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 796 shares of the company’s stock after acquiring an additional 451 shares during the period. Figure 8 Investment Strategies LLC’s holdings in MercadoLibre were worth $1,351,000 at the end of the most recent reporting period.

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

MercadoLibre Trading Down 0.6%

Shares of NASDAQ:MELI opened at $1,978.36 on Friday. The stock has a 50 day moving average of $1,859.43 and a 200 day moving average of $1,770.98. The company has a market cap of $100.30 billion, a PE ratio of 53.80, a price-to-earnings-growth ratio of 1.36 and a beta of 1.31. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,548.50.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Wednesday, August 5th. The company reported $9.19 EPS for the quarter, topping analysts’ consensus estimates of $8.65 by $0.54. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The company had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.79 billion. During the same quarter last year, the business earned $10.31 EPS. The firm’s revenue was up 49.8% compared to the same quarter last year. As a group, equities research analysts expect that MercadoLibre, Inc. will post 39.11 EPS for the current year.

Analysts Set New Price Targets

MELI has been the topic of several recent research reports. Morgan Stanley lowered their price objective on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. Citigroup upped their target price 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. Weiss Ratings reiterated a “hold (c)” rating on shares of MercadoLibre in a research note on Thursday, July 2nd. JPMorgan Chase & Co. boosted 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. Finally, UBS Group reduced their price objective on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. Eleven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average target price of $2,272.00.

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.