Profund Advisors LLC Increases Position in MercadoLibre, Inc. $MELI

Profund Advisors LLC grew its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 8.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,993 shares of the company’s stock after purchasing an additional 327 shares during the period. Profund Advisors LLC’s holdings in MercadoLibre were worth $8,043,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Baillie Gifford & Co. raised its holdings in shares of MercadoLibre by 4.9% in the 4th quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock valued at $7,012,773,000 after buying an additional 164,120 shares during the period. Capital Research Global Investors boosted its holdings in MercadoLibre by 3.4% during the 3rd quarter. Capital Research Global Investors now owns 1,816,092 shares of the company’s stock valued at $4,244,604,000 after acquiring an additional 59,838 shares during the period. Capital World Investors grew its position in MercadoLibre by 1.3% in the 3rd quarter. Capital World Investors now owns 1,740,129 shares of the company’s stock valued at $4,067,194,000 after acquiring an additional 22,659 shares in the last quarter. Schroder Investment Management Group increased its stake in MercadoLibre by 9.8% during the third quarter. Schroder Investment Management Group now owns 572,726 shares of the company’s stock worth $1,432,565,000 after purchasing an additional 50,893 shares during the period. Finally, WCM Investment Management LLC increased its stake in MercadoLibre by 0.4% during the third quarter. WCM Investment Management LLC now owns 497,518 shares of the company’s stock worth $1,244,447,000 after purchasing an additional 1,833 shares during the period. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MELI has been the subject of several recent research reports. UBS Group lowered their price objective on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. Zacks Research lowered shares of MercadoLibre from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 22nd. BTIG Research decreased their price target on shares of MercadoLibre from $2,400.00 to $2,150.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Wedbush dropped their price target on shares of MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating for the company in a research note on Wednesday, February 25th. Finally, Scotiabank cut their price objective on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,255.33.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $1,585.91 on Tuesday. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,645.22. The company has a market cap of $80.40 billion, a PE ratio of 41.86, a P/E/G ratio of 0.95 and a beta of 1.41. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. The business has a 50-day simple moving average of $1,731.09 and a 200-day simple moving average of $1,938.10.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, May 7th. The company reported $8.23 earnings per share for the quarter, missing the consensus estimate of $8.75 by ($0.52). MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The firm had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.29 billion. During the same period last year, the business earned $9.74 EPS. The firm’s revenue was up 49.0% compared to the same quarter last year. On average, equities research analysts forecast that MercadoLibre, Inc. will post 40.97 EPS for the current fiscal year.

MercadoLibre Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.