China Universal Asset Management Co. Ltd. Buys 76 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

China Universal Asset Management Co. Ltd. raised its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 33.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 305 shares of the company’s stock after buying an additional 76 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in MercadoLibre were worth $501,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of MELI. First PREMIER Bank bought a new stake in MercadoLibre during the 1st quarter worth approximately $27,000. Larson Financial Group LLC purchased a new stake in shares of MercadoLibre in the fourth quarter worth $36,000. DSM Capital Partners LLC purchased a new stake in shares of MercadoLibre in the fourth quarter worth $36,000. Scarborough Advisors LLC bought a new stake in MercadoLibre during the fourth quarter valued at $36,000. Finally, Transcendent Capital Group LLC purchased a new position in MercadoLibre during the fourth quarter worth about $38,000. 87.62% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on MELI shares. Jefferies Financial Group upgraded MercadoLibre from a “hold” rating to a “buy” rating and lifted their price target for the company from $1,400.00 to $2,100.00 in a research report on Monday, May 20th. DZ Bank upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 target price for the company in a research report on Tuesday, April 23rd. The Goldman Sachs Group increased their price target on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. New Street Research downgraded shares of MercadoLibre from a “buy” rating to a “neutral” rating in a report on Friday, May 24th. Finally, Dbs Bank raised MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $2,045.00.

MercadoLibre Trading Down 0.4 %

MELI stock traded down $8.50 during trading on Tuesday, hitting $2,019.50. 52,399 shares of the company traded hands, compared to its average volume of 368,223. The company has a 50-day moving average of $1,699.60 and a 200-day moving average of $1,632.50. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.25 and a current ratio of 1.27. MercadoLibre, Inc. has a 1 year low of $1,141.04 and a 1 year high of $2,029.99. The firm has a market capitalization of $102.38 billion, a PE ratio of 90.74, a P/E/G ratio of 1.13 and a beta of 1.60.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, August 1st. The company reported $10.48 earnings per share 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 during the quarter, compared to analyst estimates of $4.64 billion. During the same quarter in the prior year, the firm posted $5.16 earnings per share. The business’s quarterly revenue was up 41.5% compared to the same quarter last year. Analysts predict that MercadoLibre, Inc. will post 33.4 earnings per share for the current fiscal 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.