MercadoLibre, Inc. (NASDAQ:MELI) Stock Position Boosted by Truefg LLC

Truefg LLC boosted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 36.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 214 shares of the company’s stock after buying an additional 57 shares during the period. Truefg LLC’s holdings in MercadoLibre were worth $352,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MELI. Raymond James & Associates boosted its position in shares of MercadoLibre by 4.8% during the 2nd quarter. Raymond James & Associates now owns 34,840 shares of the company’s stock valued at $57,256,000 after purchasing an additional 1,604 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of MercadoLibre by 20.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,642 shares of the company’s stock valued at $41,794,000 after purchasing an additional 4,658 shares in the last quarter. Gulf International Bank UK Ltd boosted its position in shares of MercadoLibre by 33.4% during the 1st quarter. Gulf International Bank UK Ltd now owns 4,960 shares of the company’s stock valued at $7,499,000 after purchasing an additional 1,241 shares in the last quarter. Sarasin & Partners LLP boosted its position in shares of MercadoLibre by 168.5% during the 2nd quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock valued at $74,622,000 after purchasing an additional 28,494 shares in the last quarter. Finally, M&G Investment Management Ltd. bought a new position in shares of MercadoLibre during the 4th quarter valued at about $7,882,000. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Up 2.2 %

NASDAQ:MELI opened at $2,029.91 on Tuesday. The stock’s 50 day moving average price is $1,823.09 and its 200 day moving average price is $1,660.50. MercadoLibre, Inc. has a 52 week low of $1,141.04 and a 52 week high of $2,064.76. The company has a market capitalization of $102.92 billion, a P/E ratio of 90.82, a P/E/G ratio of 1.29 and a beta of 1.60. 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 released its quarterly earnings data on Thursday, August 1st. The company reported $10.48 EPS for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The firm had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter in the prior year, the company posted $5.16 earnings per share. The firm’s revenue was up 41.5% on a year-over-year basis. On average, research analysts forecast that MercadoLibre, Inc. will post 35.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on MELI shares. JPMorgan Chase & Co. upped their price objective on shares of MercadoLibre from $2,150.00 to $2,400.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. BTIG Research upped their price objective on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Susquehanna upped their price objective on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research note on Wednesday, August 28th. Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and increased their price target for the stock from $1,400.00 to $2,100.00 in a research report on Monday, May 20th. Finally, The Goldman Sachs Group increased their price target on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, MercadoLibre presently has an average rating of “Moderate Buy” and an average price target of $2,141.25.

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.