Pacer Advisors Inc. grew its holdings in Mercadolibre Inc (NASDAQ:MELI) by 11.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,827 shares of the company’s stock after purchasing an additional 287 shares during the period. Pacer Advisors Inc.’s holdings in Mercadolibre were worth $1,729,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of MELI. Harvest Group Wealth Management LLC bought a new stake in Mercadolibre during the 1st quarter worth about $28,000. NEXT Financial Group Inc boosted its holdings in shares of Mercadolibre by 104.3% in the 2nd quarter. NEXT Financial Group Inc now owns 47 shares of the company’s stock valued at $29,000 after buying an additional 24 shares during the last quarter. Icon Wealth Partners LLC acquired a new stake in shares of Mercadolibre in the 1st quarter valued at approximately $32,000. CENTRAL TRUST Co grew its stake in shares of Mercadolibre by 62.5% in the second quarter. CENTRAL TRUST Co now owns 52 shares of the company’s stock valued at $33,000 after buying an additional 20 shares in the last quarter. Finally, Advisory Alpha LLC bought a new position in shares of Mercadolibre in the first quarter valued at $37,000. Institutional investors own 83.69% of the company’s stock.
Several research firms have issued reports on MELI. JPMorgan Chase & Co. raised shares of Mercadolibre from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $563.00 to $750.00 in a research report on Tuesday, August 13th. Cowen set a $651.00 target price on shares of Mercadolibre and gave the company a “hold” rating in a report on Monday, August 12th. Piper Jaffray Companies upped their target price on shares of Mercadolibre from $584.00 to $675.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. UBS Group set a $730.00 target price on shares of Mercadolibre and gave the company a “buy” rating in a research note on Wednesday, June 26th. Finally, HSBC upgraded Mercadolibre from a “hold” rating to a “buy” rating and lifted their price target for the stock from $575.00 to $800.00 in a report on Monday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Mercadolibre has a consensus rating of “Buy” and a consensus target price of $648.50.
Shares of MELI stock traded up $11.79 during midday trading on Wednesday, hitting $560.96. 29,910 shares of the company were exchanged, compared to its average volume of 392,321. Mercadolibre Inc has a 52 week low of $257.52 and a 52 week high of $698.98. The firm has a market capitalization of $27.54 billion, a P/E ratio of -684.00 and a beta of 1.71. The firm’s 50 day moving average price is $617.27 and its two-hundred day moving average price is $563.77. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.53 and a current ratio of 2.54.
Mercadolibre (NASDAQ:MELI) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.03. The firm had revenue of $545.24 million for the quarter, compared to analysts’ expectations of $507.68 million. Mercadolibre had a net margin of 0.87% and a return on equity of 1.24%. The business’s revenue was up 62.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.25) EPS. Analysts expect that Mercadolibre Inc will post 0.58 EPS for the current year.
MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, 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, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.
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