Mediolanum International Funds Ltd Boosts Holdings in MercadoLibre, Inc. $MELI

Mediolanum International Funds Ltd increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1.1% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 12,589 shares of the company’s stock after purchasing an additional 135 shares during the quarter. Mediolanum International Funds Ltd’s holdings in MercadoLibre were worth $32,228,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in MELI. MAI Capital Management lifted its stake in shares of MercadoLibre by 24.3% in the 2nd quarter. MAI Capital Management now owns 169 shares of the company’s stock valued at $443,000 after purchasing an additional 33 shares during the last quarter. Swiss National Bank lifted its position in MercadoLibre by 7.5% in the second quarter. Swiss National Bank now owns 138,200 shares of the company’s stock valued at $361,204,000 after buying an additional 9,600 shares during the last quarter. ABN AMRO Bank N.V. purchased a new position in MercadoLibre during the second quarter worth about $1,417,000. Handelsbanken Fonder AB raised its stake in shares of MercadoLibre by 7.1% in the 2nd quarter. Handelsbanken Fonder AB now owns 22,968 shares of the company’s stock valued at $60,030,000 after acquiring an additional 1,522 shares during the period. Finally, Terra Nova Asset Management LLC lifted its holdings in shares of MercadoLibre by 0.8% in the 2nd quarter. Terra Nova Asset Management LLC now owns 1,618 shares of the company’s stock worth $4,230,000 after acquiring an additional 13 shares during the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Benchmark dropped their target price on shares of MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating for the company in a report on Thursday, October 30th. Citigroup cut their price objective on MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating on the stock in a report on Thursday, October 9th. BTIG Research restated a “buy” rating and set a $2,750.00 target price on shares of MercadoLibre in a report on Friday, November 14th. Wedbush boosted their price target on shares of MercadoLibre from $2,700.00 to $2,800.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Finally, Susquehanna dropped 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 report on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average target price of $2,854.71.

MercadoLibre Stock Down 8.5%

Shares of NASDAQ:MELI opened at $1,899.75 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. MercadoLibre, Inc. has a fifty-two week low of $1,646.00 and a fifty-two week high of $2,645.22. The stock has a market cap of $96.31 billion, a price-to-earnings ratio of 46.36, a price-to-earnings-growth ratio of 1.56 and a beta of 1.51. The firm’s 50 day moving average price is $2,230.37 and its 200 day moving average price is $2,364.48.

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