Laffer Tengler Investments Inc. Makes New $745,000 Investment in MercadoLibre, Inc. $MELI

Laffer Tengler Investments Inc. bought a new stake in MercadoLibre, Inc. (NASDAQ:MELI) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 285 shares of the company’s stock, valued at approximately $745,000.

A number of other institutional investors have also made changes to their positions in MELI. Invesco Ltd. raised its stake in shares of MercadoLibre by 22.4% in the first quarter. Invesco Ltd. now owns 570,967 shares of the company’s stock worth $1,113,881,000 after acquiring an additional 104,554 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in MercadoLibre by 21.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company’s stock worth $1,073,823,000 after purchasing an additional 96,283 shares during the last quarter. GQG Partners LLC raised its position in MercadoLibre by 23.5% in the 1st quarter. GQG Partners LLC now owns 461,875 shares of the company’s stock worth $901,058,000 after purchasing an additional 87,912 shares during the last quarter. Jennison Associates LLC lifted its holdings in MercadoLibre by 7.0% during the 2nd 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 in the last quarter. Finally, Nuveen LLC bought a new position in MercadoLibre in the 1st quarter valued at $143,367,000. 87.62% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on MELI shares. JPMorgan Chase & Co. upped their price target on MercadoLibre from $2,600.00 to $2,650.00 and gave the company a “neutral” rating in a research note on Monday, November 3rd. Wedbush boosted their price objective on MercadoLibre from $2,700.00 to $2,800.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Scotiabank initiated coverage on shares of MercadoLibre in a research report on Monday, July 28th. They set a “sector outperform” rating and a $3,500.00 target price on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of MercadoLibre in a research report on Friday, October 31st. Finally, Benchmark dropped their price target on shares of MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $2,861.25.

MercadoLibre Price Performance

MercadoLibre stock opened at $2,108.60 on Monday. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $106.90 billion, a P/E ratio of 51.45, a PEG ratio of 1.56 and a beta of 1.51. The business has a 50-day moving average of $2,290.36 and a 200-day moving average of $2,379.17. MercadoLibre, Inc. has a 1 year low of $1,646.00 and a 1 year high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share 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 firm had revenue of $7.41 billion during the quarter, compared to analyst estimates of $7.19 billion. During the same quarter in the prior year, the business earned $7.83 earnings per share. The business’s revenue was up 39.5% on a year-over-year basis. On average, equities analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current year.

MercadoLibre Company 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.