Eleva Capital SAS Buys Shares of 1,255 MercadoLibre, Inc. $MELI

by · The Cerbat Gem

Eleva Capital SAS purchased a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI – Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,255 shares of the company’s stock, valued at approximately $3,280,000. MercadoLibre comprises 0.7% of Eleva Capital SAS’s investment portfolio, making the stock its 8th largest holding.

Several other hedge funds and other institutional investors also recently made changes to their positions in MELI. Bison Wealth LLC bought a new stake in shares of MercadoLibre during the fourth quarter worth about $206,000. Mather Group LLC. grew its holdings in shares of MercadoLibre by 115.8% during the first quarter. Mather Group LLC. now owns 41 shares of the company’s stock worth $79,000 after purchasing an additional 22 shares during the last quarter. Resonant Capital Advisors LLC bought a new stake in shares of MercadoLibre during the first quarter worth about $220,000. Mutual Advisors LLC grew its holdings in shares of MercadoLibre by 6.5% during the first quarter. Mutual Advisors LLC now owns 874 shares of the company’s stock worth $1,705,000 after purchasing an additional 53 shares during the last quarter. Finally, D.A. Davidson & CO. grew its holdings in shares of MercadoLibre by 3.2% during the first quarter. D.A. Davidson & CO. now owns 2,802 shares of the company’s stock worth $5,466,000 after purchasing an additional 86 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Stock Performance

Shares of MELI stock opened at $2,328.90 on Friday. The business’s 50 day simple moving average is $2,310.58 and its 200 day simple moving average is $2,372.51. MercadoLibre, Inc. has a one year low of $1,646.00 and a one year high of $2,645.22. The stock has a market capitalization of $118.07 billion, a PE ratio of 56.83, a PEG ratio of 1.56 and a beta of 1.46. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18.

MercadoLibre (NASDAQ:MELI – Get Free Report) last announced its 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). 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 the consensus estimate of $7.19 billion. During the same quarter in the previous year, the company earned $7.83 earnings per share. The business’s revenue was up 39.5% on a year-over-year basis. As a group, research analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on MELI. Cantor Fitzgerald reduced their price target on MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating on the stock in a report on Thursday. Weiss Ratings restated a “buy (b-)” rating on shares of MercadoLibre in a report on Friday. Daiwa Capital Markets initiated coverage on MercadoLibre in a report on Friday, August 1st. They issued a “buy” rating and a $3,000.00 target price on the stock. Jefferies Financial Group reiterated a “hold” rating and issued a $2,800.00 target price on shares of MercadoLibre in a report on Tuesday, August 5th. Finally, Wedbush upped their target price on MercadoLibre from $2,700.00 to $2,800.00 and gave the company an “outperform” rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average target price of $2,796.47.

Read Our Latest Stock Report on MercadoLibre

MercadoLibre Profile

(Free Report)

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.

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