Mutual Advisors LLC Buys 153 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Mutual Advisors LLC increased its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 29.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 674 shares of the company’s stock after buying an additional 153 shares during the quarter. Mutual Advisors LLC’s holdings in MercadoLibre were worth $1,385,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Capital World Investors increased its holdings in MercadoLibre by 12.7% during the 1st quarter. Capital World Investors now owns 845,749 shares of the company’s stock worth $1,278,738,000 after purchasing an additional 95,029 shares during the period. GQG Partners LLC raised its stake in MercadoLibre by 442.2% in the first quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock valued at $1,201,679,000 after buying an additional 648,198 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in MercadoLibre by 43.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock worth $1,167,073,000 after acquiring an additional 232,787 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of MercadoLibre by 55.8% during the first quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock worth $557,225,000 after acquiring an additional 132,028 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of MercadoLibre by 3.6% during the second quarter. Legal & General Group Plc now owns 323,570 shares of the company’s stock valued at $531,755,000 after acquiring an additional 11,265 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on MELI. Redburn Atlantic assumed coverage on shares of MercadoLibre in a research report on Friday, October 11th. They set a “buy” rating and a $2,800.00 target price on the stock. Morgan Stanley upped their target price on MercadoLibre from $2,175.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Dbs Bank raised MercadoLibre from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 11th. Cantor Fitzgerald reissued an “overweight” rating and issued a $2,530.00 price objective on shares of MercadoLibre in a report on Monday, October 7th. Finally, Raymond James assumed coverage on MercadoLibre in a research note on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price objective for the company. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, MercadoLibre has an average rating of “Moderate Buy” and a consensus target price of $2,301.67.

MercadoLibre Stock Up 0.9 %

MELI stock opened at $2,054.90 on Friday. The firm’s fifty day moving average is $2,050.38 and its 200 day moving average is $1,801.53. The firm has a market cap of $104.18 billion, a PE ratio of 74.26, a P/E/G ratio of 1.23 and a beta of 1.61. MercadoLibre, Inc. has a one year low of $1,310.31 and a one year high of $2,161.73. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, beating the consensus estimate of $8.53 by $1.95. The firm had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.64 billion. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. MercadoLibre’s revenue for the quarter was up 41.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.16 EPS. On average, research analysts forecast that MercadoLibre, Inc. will post 37.7 EPS for the current 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.