Resolute Advisors LLC Makes New Investment in MercadoLibre, Inc. (NASDAQ:MELI)

Resolute Advisors LLC purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the third quarter, Holdings Channel reports. The firm purchased 164 shares of the company’s stock, valued at approximately $337,000.

Several other institutional investors and hedge funds have also bought and sold shares of MELI. Capital World Investors increased its holdings in shares of MercadoLibre by 12.7% in the first quarter. Capital World Investors now owns 845,749 shares of the company’s stock valued at $1,278,738,000 after purchasing an additional 95,029 shares during the period. GQG Partners LLC boosted its stake in MercadoLibre by 442.2% during the 1st quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock worth $1,201,679,000 after purchasing an additional 648,198 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of MercadoLibre by 43.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock worth $1,167,073,000 after purchasing an additional 232,787 shares during the last quarter. Janus Henderson Group PLC grew its holdings in MercadoLibre by 55.8% in the 1st quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock valued at $557,225,000 after buying an additional 132,028 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of MercadoLibre by 3.6% in the second quarter. Legal & General Group Plc now owns 323,570 shares of the company’s stock valued at $531,755,000 after purchasing an additional 11,265 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Citigroup lifted their target price on MercadoLibre from $2,200.00 to $2,480.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Barclays increased their target price on shares of MercadoLibre from $2,100.00 to $2,500.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. lowered MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 price objective on the stock. in a research report on Wednesday, October 2nd. Morgan Stanley increased their price objective on MercadoLibre from $2,175.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Finally, Susquehanna upped their price target on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a report on Wednesday, August 28th. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and an average price target of $2,309.67.

MercadoLibre Stock Performance

NASDAQ MELI opened at $1,872.01 on Friday. The stock has a market capitalization of $94.91 billion, a price-to-earnings ratio of 66.06, a PEG ratio of 1.30 and a beta of 1.61. The business’s 50 day moving average is $2,046.45 and its two-hundred day moving average is $1,822.55. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,161.73. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Wednesday, November 6th. The company reported $7.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.27 by ($3.44). The business had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.25 billion. MercadoLibre had a return on equity of 42.61% and a net margin of 7.57%. Research analysts expect that MercadoLibre, Inc. will post 37.28 EPS 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.