Tobam Increases Stake in MercadoLibre, Inc. $MELI

Tobam grew its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 26.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 502 shares of the company’s stock after buying an additional 106 shares during the quarter. Tobam’s holdings in MercadoLibre were worth $1,312,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. M&G PLC grew its stake in shares of MercadoLibre by 509.2% during the second quarter. M&G PLC now owns 29,875 shares of the company’s stock worth $78,093,000 after purchasing an additional 24,971 shares in the last quarter. Forsta AP Fonden increased its stake in MercadoLibre by 25.7% in the 2nd quarter. Forsta AP Fonden now owns 12,700 shares of the company’s stock valued at $33,193,000 after buying an additional 2,600 shares during the period. KBC Group NV raised its position in MercadoLibre by 46.9% during the 2nd quarter. KBC Group NV now owns 57,626 shares of the company’s stock worth $150,613,000 after buying an additional 18,393 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of MercadoLibre by 99.2% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 90,861 shares of the company’s stock worth $237,477,000 after acquiring an additional 45,245 shares during the period. Finally, National Pension Service boosted its holdings in shares of MercadoLibre by 20.6% in the second quarter. National Pension Service now owns 122,883 shares of the company’s stock valued at $321,171,000 after acquiring an additional 21,030 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

MELI has been the topic of a number of analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of MercadoLibre in a research report on Friday, October 31st. Jefferies Financial Group reaffirmed a “hold” rating and set a $2,800.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. Citigroup decreased their target price on shares of MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating on the stock in a research report on Thursday, October 9th. Barclays lifted their target price on MercadoLibre from $2,800.00 to $2,900.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Finally, Raymond James Financial reissued a “strong-buy” rating and issued a $2,750.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,861.25.

MercadoLibre Stock Up 0.4%

Shares of NASDAQ:MELI opened at $2,099.57 on Wednesday. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. The company has a fifty day simple moving average of $2,277.14 and a 200 day simple moving average of $2,377.49. The firm has a market cap of $106.44 billion, a PE ratio of 51.23, a price-to-earnings-growth ratio of 1.56 and a beta of 1.51. MercadoLibre, Inc. has a 12-month low of $1,646.00 and a 12-month high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $8.32 EPS 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 for the quarter was up 39.5% on a year-over-year basis. During the same period in the previous year, the business posted $7.83 EPS. On average, equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

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.