Loomis Sayles & Co. L P grew its position in Mercadolibre Inc (NASDAQ:MELI) by 120.8% during the 3rd quarter, Holdings Channel reports. The firm owned 57,166 shares of the company’s stock after acquiring an additional 31,275 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Mercadolibre were worth $19,463,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. purchased a new stake in shares of Mercadolibre in the first quarter worth $316,000. Janney Montgomery Scott LLC increased its stake in shares of Mercadolibre by 106.9% in the second quarter. Janney Montgomery Scott LLC now owns 2,083 shares of the company’s stock worth $623,000 after purchasing an additional 1,076 shares in the last quarter. Aperio Group LLC increased its stake in shares of Mercadolibre by 21.8% in the second quarter. Aperio Group LLC now owns 3,204 shares of the company’s stock worth $958,000 after purchasing an additional 574 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Mercadolibre by 87.6% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 6,329 shares of the company’s stock worth $1,892,000 after purchasing an additional 2,955 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its stake in shares of Mercadolibre by 14.8% in the second quarter. Commonwealth Equity Services LLC now owns 2,359 shares of the company’s stock worth $705,000 after purchasing an additional 305 shares in the last quarter. 93.38% of the stock is currently owned by institutional investors.

A number of analysts have recently issued reports on MELI shares. Zacks Investment Research raised shares of Mercadolibre from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 23rd. BidaskClub cut shares of Mercadolibre from a “hold” rating to a “sell” rating in a research note on Tuesday, August 21st. Credit Suisse Group reduced their price objective on shares of Mercadolibre from $425.00 to $420.00 and set an “outperform” rating for the company in a research note on Thursday, August 9th. Barclays increased their price objective on shares of Mercadolibre from $360.00 to $370.00 and gave the stock an “overweight” rating in a research note on Friday, November 2nd. Finally, Stifel Nicolaus increased their price objective on shares of Mercadolibre from $360.00 to $380.00 and gave the stock a “hold” rating in a research note on Thursday, August 9th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $362.62.

MELI opened at $350.56 on Friday. The firm has a market cap of $16.04 billion, a P/E ratio of 138.56 and a beta of 2.07. Mercadolibre Inc has a fifty-two week low of $268.90 and a fifty-two week high of $417.91. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.62 and a quick ratio of 1.61.

Mercadolibre (NASDAQ:MELI) last posted its earnings results on Thursday, November 1st. The company reported ($0.23) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.13). The company had revenue of $355.30 million for the quarter, compared to analysts’ expectations of $352.75 million. Mercadolibre had a negative net margin of 7.04% and a negative return on equity of 9.47%. The business’s revenue was up 16.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.63 earnings per share. As a group, research analysts predict that Mercadolibre Inc will post -0.99 EPS for the current year.

TRADEMARK VIOLATION NOTICE: This story was first published by Watch List News and is the sole property of of Watch List News. If you are viewing this story on another site, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark laws. The original version of this story can be read at https://www.watchlistnews.com/loomis-sayles-co-l-p-raises-holdings-in-mercadolibre-inc-meli/2668416.html.

Mercadolibre Profile

MercadoLibre, Inc hosts online commerce platforms in Latin America. It offers MercadoLibre Marketplace, an automated online commerce service for businesses and individuals to list items and conduct their sales and purchases online in a fixed-price or auction-based format. The company's Marketplace platform enables commerce through online classifieds for motor vehicles, vessels, aircraft, services, and real estate; and Internet users to browse through various products that are listed on its Website and to register with MercadoLibre to list and purchase items and services.

Recommended Story: Insider Trading

Want to see what other hedge funds are holding MELI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mercadolibre Inc (NASDAQ:MELI).

Institutional Ownership by Quarter for Mercadolibre (NASDAQ:MELI)

Receive News & Ratings for Mercadolibre Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mercadolibre and related companies with MarketBeat.com's FREE daily email newsletter.