National Pension Service Buys 21,030 Shares of MercadoLibre, Inc. $MELI

National Pension Service raised its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 20.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 122,883 shares of the company’s stock after purchasing an additional 21,030 shares during the quarter. National Pension Service owned 0.24% of MercadoLibre worth $321,171,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Jennison Associates LLC increased its stake in MercadoLibre by 7.0% during the second quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock valued at $3,228,460,000 after acquiring an additional 81,124 shares during the period. Invesco Ltd. lifted its position in shares of MercadoLibre by 22.4% in the 1st 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of MercadoLibre by 21.2% during 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 in the last quarter. Generation Investment Management LLP increased its position in shares of MercadoLibre by 3.3% during the first quarter. Generation Investment Management LLP now owns 530,564 shares of the company’s stock valued at $1,035,061,000 after purchasing an additional 16,878 shares during the period. Finally, GQG Partners LLC increased its position in shares of MercadoLibre by 23.5% during the first quarter. GQG Partners LLC now owns 461,875 shares of the company’s stock valued at $901,058,000 after purchasing an additional 87,912 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

MELI has been the topic of a number of recent research reports. Scotiabank began coverage on shares of MercadoLibre in a research note on Monday, July 28th. They set a “sector outperform” rating and a $3,500.00 price target on the stock. Wedbush raised their price objective on shares of MercadoLibre from $2,700.00 to $2,800.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Morgan Stanley lifted 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 report on Monday, November 3rd. Susquehanna dropped their price target on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating for the company in a research report on Monday, October 13th. Finally, Daiwa Capital Markets began coverage on shares of MercadoLibre in a research note on Friday, August 1st. They set a “buy” rating and a $3,000.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and an average target price of $2,861.25.

MercadoLibre Stock Up 0.4%

MELI opened at $2,099.57 on Wednesday. The firm has a market cap of $106.44 billion, a price-to-earnings ratio of 51.23, a PEG ratio of 1.56 and a beta of 1.51. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. The firm’s 50-day simple moving average is $2,277.14 and its 200-day simple moving average is $2,377.49. MercadoLibre, Inc. has a twelve month low of $1,646.00 and a twelve month 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 (EPS) for the quarter, missing the consensus estimate of $9.88 by ($1.56). The firm had revenue of $7.41 billion for the quarter, compared to the consensus estimate 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 business earned $7.83 earnings per share. Equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS 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.