National Pension Service Grows Position in MercadoLibre, Inc. $MELI

by · The Cerbat Gem

National Pension Service grew its position in shares of MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 6.7% in the second quarter, HoldingsChannel reports. The firm owned 116,125 shares of the company’s stock after buying an additional 7,328 shares during the quarter. National Pension Service’s holdings in MercadoLibre were worth $197,109,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Transamerica Financial Advisors LLC bought a new stake in shares of MercadoLibre in the 4th quarter worth about $26,000. Purpose Unlimited Inc. bought a new stake in MercadoLibre during the fourth quarter worth approximately $28,000. Wedbush Fund Advisers LLC bought a new stake in MercadoLibre during the second quarter worth approximately $29,000. Darwin Wealth Management LLC purchased a new stake in MercadoLibre during the second quarter valued at approximately $29,000. Finally, Curio Wealth LLC purchased a new stake in MercadoLibre during the fourth quarter valued at approximately $30,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on MELI. Zacks Research upgraded MercadoLibre from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Weiss Ratings restated a “hold (c)” rating on shares of MercadoLibre in a report on Thursday, July 2nd. Cantor Fitzgerald raised their price target on MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. BTIG Research restated a “buy” rating and issued a $2,150.00 price target on shares of MercadoLibre in a research report on Thursday, September 3rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. Eleven analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $2,272.00.

Get Our Latest Stock Analysis on MELI

MercadoLibre Trading Up 1.6%

MELI opened at $1,906.24 on Friday. The stock has a market cap of $96.65 billion, a price-to-earnings ratio of 51.84, a P/E/G ratio of 1.29 and a beta of 1.31. The stock’s 50 day moving average price is $1,875.45 and its 200-day moving average price is $1,767.40. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,548.50. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12.

MercadoLibre (NASDAQ:MELI – Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $9.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.65 by $0.54. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The firm had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.79 billion. During the same period last year, the company earned $10.31 EPS. MercadoLibre’s quarterly revenue was up 49.8% compared to the same quarter last year. On average, equities analysts forecast that MercadoLibre, Inc. will post 39.11 EPS for the current year.

MercadoLibre Company Profile

(Free Report)

MercadoLibre, Inc is a technology company that operates an online commerce and financial services ecosystem across Latin America. Founded in 1999 by Marcos Galperin, the company began as an online marketplace and has expanded into a broad platform serving consumers, merchants and businesses.

Its marketplace enables users to buy and sell products across categories, while Mercado Pago provides digital payments, online checkout, money transfers and other financial services. The company also offers Mercado Envíos logistics and fulfillment services, Mercado Ads advertising solutions, and credit products through Mercado Crédito.

Further Reading

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