SPX Gestao de Recursos Ltda purchased a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI – Get Rating) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,269 shares of the company’s stock, valued at approximately $11,812,000. MercadoLibre makes up approximately 1.1% of SPX Gestao de Recursos Ltda’s holdings, making the stock its 22nd biggest holding.
Other institutional investors have also bought and sold shares of the company. Raymond James Trust N.A. purchased a new position in shares of MercadoLibre in the 1st quarter worth about $236,000. Cibc World Market Inc. grew its position in MercadoLibre by 6.1% during the first quarter. Cibc World Market Inc. now owns 659 shares of the company’s stock valued at $784,000 after buying an additional 38 shares during the period. Dimensional Fund Advisors LP grew its position in MercadoLibre by 8.6% during the first quarter. Dimensional Fund Advisors LP now owns 189 shares of the company’s stock valued at $225,000 after buying an additional 15 shares during the period. Blair William & Co. IL grew its position in MercadoLibre by 10.1% during the first quarter. Blair William & Co. IL now owns 2,878 shares of the company’s stock valued at $3,423,000 after buying an additional 264 shares during the period. Finally, Cetera Investment Advisers grew its position in MercadoLibre by 25.1% during the first quarter. Cetera Investment Advisers now owns 1,048 shares of the company’s stock valued at $1,247,000 after buying an additional 210 shares during the period. Institutional investors own 80.49% of the company’s stock.
Analyst Ratings Changes
MELI has been the subject of a number of research reports. Jefferies Financial Group cut their target price on shares of MercadoLibre from $990.00 to $970.00 and set a “hold” rating for the company in a research report on Thursday, October 6th. BTIG Research increased their target price on shares of MercadoLibre from $1,130.00 to $1,245.00 in a research report on Friday. Credit Suisse Group cut their target price on shares of MercadoLibre from $1,470.00 to $1,400.00 and set an “outperform” rating for the company in a research report on Monday, October 31st. StockNews.com started coverage on shares of MercadoLibre in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, Citigroup increased their price target on shares of MercadoLibre from $1,050.00 to $1,100.00 in a report on Friday, December 23rd. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,291.50.
MercadoLibre Price Performance
MELI traded up $35.71 on Friday, reaching $1,060.02. The company had a trading volume of 21,486 shares, compared to its average volume of 532,312. The company has a market cap of $53.31 billion, a price-to-earnings ratio of 190.75 and a beta of 1.53. MercadoLibre, Inc. has a 52-week low of $600.68 and a 52-week high of $1,275.82. The business has a 50 day simple moving average of $905.76 and a 200 day simple moving average of $869.06. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.31 and a current ratio of 1.34.
MercadoLibre (NASDAQ:MELI – Get Rating) last posted its quarterly earnings results on Thursday, November 3rd. The company reported $2.56 EPS for the quarter, topping the consensus estimate of $2.31 by $0.25. The firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.69 billion. MercadoLibre had a net margin of 2.80% and a return on equity of 17.11%. The business’s revenue was up 41.6% compared to the same quarter last year. During the same period last year, the firm posted $1.92 earnings per share. As a group, sell-side analysts anticipate that MercadoLibre, Inc. will post 8.2 EPS for the current year.
MercadoLibre, Inc operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; 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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to firstname.lastname@example.org.
Before you consider MercadoLibre, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and MercadoLibre wasn’t on the list.
While MercadoLibre currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.