MercadoLibre, Inc. $MELI Shares Purchased by M&G PLC

M&G PLC grew its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 509.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 29,875 shares of the company’s stock after buying an additional 24,971 shares during the period. M&G PLC’s holdings in MercadoLibre were worth $78,093,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GW&K Investment Management LLC acquired a new stake in MercadoLibre in the 1st quarter valued at about $25,000. Close Asset Management Ltd increased its holdings in shares of MercadoLibre by 366.7% in the first quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock valued at $27,000 after purchasing an additional 11 shares during the last quarter. Highline Wealth Partners LLC lifted its position in MercadoLibre by 366.7% during the second quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock worth $37,000 after buying an additional 11 shares in the last quarter. Brooklyn Investment Group boosted its stake in MercadoLibre by 650.0% during the first quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock worth $29,000 after buying an additional 13 shares during the last quarter. Finally, Twin Tree Management LP purchased a new stake in MercadoLibre in the 1st quarter valued at $29,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Up 0.4%

MercadoLibre stock opened at $2,099.57 on Wednesday. The firm has a market capitalization of $106.44 billion, a P/E ratio of 51.23, a P/E/G ratio of 1.56 and a beta of 1.51. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. MercadoLibre, Inc. has a twelve month low of $1,646.00 and a twelve month high of $2,645.22. The stock’s fifty day simple moving average is $2,277.14 and its 200-day simple moving average is $2,377.49.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share (EPS) 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 company had revenue of $7.41 billion during the quarter, compared to analysts’ expectations of $7.19 billion. During the same quarter last year, the business posted $7.83 earnings per share. The company’s revenue for the quarter was up 39.5% on a year-over-year basis. As a group, equities analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. 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 price target on the stock. Morgan Stanley increased their price target 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. Benchmark reduced their price target on shares of MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. Jefferies Financial Group reiterated a “hold” rating and set a $2,800.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Finally, Cantor Fitzgerald dropped their price target on shares of 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. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and an average target price of $2,861.25.

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.