MercadoLibre, Inc. (NASDAQ:MELI) Shares Acquired by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. boosted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 17.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 277,206 shares of the company’s stock after acquiring an additional 40,361 shares during the period. MercadoLibre accounts for about 1.2% of Royal London Asset Management Ltd.’s holdings, making the stock its 14th biggest position. Royal London Asset Management Ltd.’s holdings in MercadoLibre were worth $455,560,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MELI. First PREMIER Bank acquired a new stake in shares of MercadoLibre in the 1st quarter worth $27,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in MercadoLibre by 1,600.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after purchasing an additional 16 shares during the period. DSM Capital Partners LLC acquired a new stake in MercadoLibre in the fourth quarter valued at about $36,000. Scarborough Advisors LLC purchased a new stake in MercadoLibre in the 4th quarter valued at approximately $36,000. Finally, Financial Connections Group Inc. acquired a new position in MercadoLibre during the 2nd quarter worth approximately $36,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Barclays raised their price target on MercadoLibre from $2,000.00 to $2,100.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. Citigroup boosted their target price on shares of MercadoLibre from $2,000.00 to $2,200.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Cantor Fitzgerald began coverage on shares of MercadoLibre in a report on Thursday, September 5th. They issued an “overweight” rating and a $2,530.00 price target for the company. Susquehanna raised 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. Finally, The Goldman Sachs Group increased their target price on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $2,141.25.

MercadoLibre Trading Up 2.2 %

Shares of MELI opened at $2,029.91 on Tuesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26. MercadoLibre, Inc. has a 1-year low of $1,141.04 and a 1-year high of $2,064.76. The stock has a market cap of $102.92 billion, a price-to-earnings ratio of 90.82, a price-to-earnings-growth ratio of 1.29 and a beta of 1.60. The firm has a 50 day simple moving average of $1,823.09 and a 200-day simple moving average of $1,660.50.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, topping the consensus estimate of $8.53 by $1.95. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The company had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter last year, the business posted $5.16 earnings per share. MercadoLibre’s revenue was up 41.5% compared to the same quarter last year. Equities analysts forecast that MercadoLibre, Inc. will post 35.22 EPS for the current fiscal 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.