MercadoLibre, Inc. $MELI Position Increased by West Family Investments Inc.

West Family Investments Inc. lifted its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 136.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 248 shares of the company’s stock after buying an additional 143 shares during the quarter. West Family Investments Inc.’s holdings in MercadoLibre were worth $648,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Jackson Wealth Management LLC bought a new position in shares of MercadoLibre during the second quarter valued at approximately $499,000. Highview Capital Management LLC DE acquired a new position in MercadoLibre during the 2nd quarter valued at approximately $559,000. Ninety One North America Inc. grew its stake in MercadoLibre by 21.5% during the 2nd quarter. Ninety One North America Inc. now owns 6,094 shares of the company’s stock worth $15,927,000 after buying an additional 1,080 shares during the last quarter. Resona Asset Management Co. Ltd. grew its stake in MercadoLibre by 4.0% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 15,308 shares of the company’s stock worth $39,900,000 after buying an additional 585 shares during the last quarter. Finally, Banco Santander S.A. increased its position in MercadoLibre by 221.9% in the first quarter. Banco Santander S.A. now owns 2,746 shares of the company’s stock worth $5,357,000 after buying an additional 1,893 shares during the period. Institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

MELI has been the subject of several recent research reports. UBS Group lowered their price target on shares of MercadoLibre from $3,000.00 to $2,900.00 and set a “buy” rating for the company in a research report on Monday, November 24th. Morgan Stanley boosted their target price on shares of MercadoLibre from $2,850.00 to $2,950.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. Cantor Fitzgerald reduced their price objective on MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Benchmark cut their target price on MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating on the stock in a research note on Thursday, October 30th. Finally, Wedbush lifted their price objective on shares of MercadoLibre from $2,700.00 to $2,800.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average price target of $2,848.82.

MercadoLibre Trading Up 2.4%

MercadoLibre stock opened at $2,082.00 on Friday. The firm has a market cap of $105.55 billion, a price-to-earnings ratio of 50.81, a price-to-earnings-growth ratio of 1.56 and a beta of 1.51. MercadoLibre, Inc. has a 1 year low of $1,646.00 and a 1 year high of $2,645.22. The firm’s 50 day moving average price is $2,184.85 and its two-hundred day moving average price is $2,349.84. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data 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). The company had revenue of $7.41 billion for the quarter, compared to the consensus estimate of $7.19 billion. MercadoLibre had a return on equity of 41.35% and a net margin of 7.93%.The business’s revenue was up 39.5% compared to the same quarter last year. During the same period in the prior year, the business earned $7.83 earnings per share. On average, research analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

About MercadoLibre

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.