MercadoLibre, Inc. (NASDAQ:MELI) is Tamar Securities LLC’s 7th Largest Position

Tamar Securities LLC lifted its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 7.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,665 shares of the company’s stock after purchasing an additional 932 shares during the quarter. MercadoLibre accounts for about 3.7% of Tamar Securities LLC’s investment portfolio, making the stock its 7th biggest holding. Tamar Securities LLC’s holdings in MercadoLibre were worth $25,988,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of MELI. Capital World Investors boosted its stake in shares of MercadoLibre by 12.7% in the first quarter. Capital World Investors now owns 845,749 shares of the company’s stock worth $1,278,738,000 after acquiring an additional 95,029 shares during the period. GQG Partners LLC boosted its stake in shares of MercadoLibre by 442.2% in the first quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock worth $1,201,679,000 after acquiring an additional 648,198 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of 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 during the period. Janus Henderson Group PLC boosted its stake in shares of MercadoLibre by 55.8% in 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 period. Finally, Legal & General Group Plc boosted its stake in 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 buying an additional 11,265 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on MELI shares. The Goldman Sachs Group upped their price objective on MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Barclays upped their price objective on MercadoLibre from $2,100.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Citigroup increased their price target on MercadoLibre from $2,000.00 to $2,200.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Morgan Stanley increased their price target on MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Finally, Bank of America increased their target price on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $2,283.00.

MercadoLibre Stock Performance

Shares of MELI stock opened at $2,046.47 on Thursday. The firm has a market capitalization of $103.75 billion, a price-to-earnings ratio of 91.56, a price-to-earnings-growth ratio of 1.25 and a beta of 1.61. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26. The business has a fifty day moving average of $2,026.84 and a 200 day moving average of $1,756.18. MercadoLibre, Inc. has a 1 year low of $1,141.04 and a 1 year high of $2,161.73.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. The company 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%. The firm’s quarterly revenue was up 41.5% on a year-over-year basis. During the same quarter last year, the business posted $5.16 EPS. As a group, research analysts expect that MercadoLibre, Inc. will post 37.55 earnings per share for the current year.

About MercadoLibre

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.