Treasurer of the State of North Carolina grew its stake in shares of Mercadolibre Inc (NASDAQ:MELI) by 21.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 761 shares of the company’s stock after purchasing an additional 133 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Mercadolibre were worth $466,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. NEXT Financial Group Inc boosted its stake in shares of Mercadolibre by 104.3% during the second quarter. NEXT Financial Group Inc now owns 47 shares of the company’s stock valued at $29,000 after purchasing an additional 24 shares during the period. CENTRAL TRUST Co boosted its stake in shares of Mercadolibre by 62.5% during the second quarter. CENTRAL TRUST Co now owns 52 shares of the company’s stock valued at $33,000 after purchasing an additional 20 shares during the period. Advisory Alpha LLC purchased a new stake in shares of Mercadolibre during the first quarter valued at $37,000. Emerald Investment Partners LLC purchased a new stake in shares of Mercadolibre during the second quarter valued at $37,000. Finally, Next Capital Management LLC purchased a new stake in shares of Mercadolibre during the second quarter valued at $41,000. 81.50% of the stock is owned by hedge funds and other institutional investors.
Several analysts recently weighed in on MELI shares. HSBC upgraded Mercadolibre from a “hold” rating to a “buy” rating and lifted their price objective for the company from $575.00 to $800.00 in a report on Monday, September 9th. Piper Jaffray Companies lifted their price objective on Mercadolibre from $584.00 to $675.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. UBS Group set a $730.00 price objective on Mercadolibre and gave the company a “buy” rating in a report on Wednesday, June 26th. Deutsche Bank lifted their price objective on Mercadolibre from $600.00 to $725.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Finally, Citigroup upgraded Mercadolibre from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $609.00 to $729.00 in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $665.69.
Mercadolibre (NASDAQ:MELI) last announced its earnings results on Wednesday, August 7th. The company reported $0.31 EPS for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.03. The business had revenue of $545.24 million during the quarter, compared to the consensus estimate of $507.68 million. Mercadolibre had a net margin of 0.87% and a return on equity of 1.24%. The firm’s revenue was up 62.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.25) earnings per share. On average, equities analysts predict that Mercadolibre Inc will post 0.58 earnings per share for the current fiscal year.
MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, 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, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.
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