Rathbones Group PLC Increases Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Rathbones Group PLC increased its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 54.9% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,583 shares of the company’s stock after purchasing an additional 3,041 shares during the period. Rathbones Group PLC’s holdings in MercadoLibre were worth $14,105,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. First PREMIER Bank purchased a new stake in shares of MercadoLibre in the 1st quarter valued at $27,000. Migdal Insurance & Financial Holdings Ltd. boosted its position in MercadoLibre by 1,600.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after buying an additional 16 shares during the period. DSM Capital Partners LLC purchased a new stake in MercadoLibre during the 4th quarter valued at $36,000. Scarborough Advisors LLC purchased a new stake in MercadoLibre during the 4th quarter valued at $36,000. Finally, Financial Connections Group Inc. purchased a new stake in MercadoLibre during the 2nd quarter valued at $36,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MELI. New Street Research cut shares of MercadoLibre from a “buy” rating to a “neutral” rating in a research report on Friday, May 24th. Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 11th. Citigroup upped their price objective on shares of MercadoLibre from $2,000.00 to $2,200.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Cantor Fitzgerald assumed coverage on shares of MercadoLibre in a report on Thursday, September 5th. They issued an “overweight” rating and a $2,530.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their price objective on shares of MercadoLibre from $2,150.00 to $2,400.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. 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. According to data from MarketBeat, MercadoLibre has an average rating of “Moderate Buy” and a consensus target price of $2,182.92.

MercadoLibre Stock Down 0.8 %

Shares of MercadoLibre stock opened at $2,122.37 on Monday. 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 company has a 50-day moving average of $1,860.84 and a 200 day moving average of $1,673.87. The firm has a market cap of $107.60 billion, a price-to-earnings ratio of 94.96, a PEG ratio of 1.33 and a beta of 1.61. MercadoLibre, Inc. has a 1 year low of $1,141.04 and a 1 year high of $2,143.96.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 8.03% and a return on equity of 43.52%. MercadoLibre’s quarterly revenue was up 41.5% compared to the same quarter last year. During the same period last year, the business earned $5.16 EPS. As a group, sell-side analysts anticipate that MercadoLibre, Inc. will post 35.22 earnings per share for the current fiscal 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.