Deltec Asset Management LLC Acquires 205 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Deltec Asset Management LLC raised its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 10.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,175 shares of the company’s stock after acquiring an additional 205 shares during the period. Deltec Asset Management LLC’s holdings in MercadoLibre were worth $3,574,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of MELI. Vestor Capital LLC boosted its stake in MercadoLibre by 10.0% during the fourth quarter. Vestor Capital LLC now owns 88 shares of the company’s stock valued at $138,000 after buying an additional 8 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of MercadoLibre by 20.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,642 shares of the company’s stock valued at $41,794,000 after purchasing an additional 4,658 shares in the last quarter. Gulf International Bank UK Ltd increased its position in MercadoLibre by 33.4% in the first quarter. Gulf International Bank UK Ltd now owns 4,960 shares of the company’s stock worth $7,499,000 after purchasing an additional 1,241 shares during the last quarter. M&G Investment Management Ltd. purchased a new stake in MercadoLibre during the fourth quarter valued at $7,882,000. Finally, Thoroughbred Financial Services LLC lifted its position in MercadoLibre by 24.3% during the fourth quarter. Thoroughbred Financial Services LLC now owns 5,168 shares of the company’s stock valued at $8,121,000 after purchasing an additional 1,009 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MELI. UBS Group reduced their target price on shares of MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. Barclays upped their price objective on MercadoLibre from $2,000.00 to $2,100.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. The Goldman Sachs Group lifted their target price on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Wedbush restated an “outperform” rating and set a $1,800.00 price target on shares of MercadoLibre in a report on Friday, May 3rd. Finally, Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $1,400.00 to $2,100.00 in a research note on Monday, May 20th. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,998.33.

MercadoLibre Stock Down 0.9 %

Shares of NASDAQ MELI traded down $17.63 during trading hours on Wednesday, hitting $1,898.57. 261,868 shares of the stock were exchanged, compared to its average volume of 369,783. MercadoLibre, Inc. has a 12 month low of $1,141.04 and a 12 month high of $1,923.18. The firm has a fifty day moving average price of $1,670.14 and a 200-day moving average price of $1,625.97. The company has a quick ratio of 1.25, a current ratio of 1.27 and a debt-to-equity ratio of 0.66. The company has a market cap of $96.25 billion, a PE ratio of 84.95, a PEG ratio of 1.13 and a beta of 1.60.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, beating analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a return on equity of 45.61% and a net margin of 8.03%. The firm had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same quarter in the prior year, the firm earned $5.16 earnings per share. MercadoLibre’s revenue for the quarter was up 41.5% on a year-over-year basis. On average, sell-side analysts expect that MercadoLibre, Inc. will post 33.4 EPS for the current year.

MercadoLibre 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.