Focus Financial Network Inc. Grows Position in MercadoLibre, Inc. (NASDAQ:MELI)

Focus Financial Network Inc. boosted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 44.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 256 shares of the company’s stock after buying an additional 79 shares during the quarter. Focus Financial Network Inc.’s holdings in MercadoLibre were worth $428,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Vestor Capital LLC increased its position in MercadoLibre by 10.0% during the 4th quarter. Vestor Capital LLC now owns 88 shares of the company’s stock valued at $138,000 after purchasing an additional 8 shares during the period. Raymond James & Associates increased its position in shares of MercadoLibre by 4.8% during the second quarter. Raymond James & Associates now owns 34,840 shares of the company’s stock valued at $57,256,000 after buying an additional 1,604 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in MercadoLibre by 20.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,642 shares of the company’s stock worth $41,794,000 after buying an additional 4,658 shares during the period. Gulf International Bank UK Ltd boosted its position in MercadoLibre by 33.4% during the 1st quarter. Gulf International Bank UK Ltd now owns 4,960 shares of the company’s stock valued at $7,499,000 after acquiring an additional 1,241 shares in the last quarter. Finally, Sarasin & Partners LLP grew its holdings in shares of MercadoLibre by 168.5% during the 2nd quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock worth $74,622,000 after acquiring an additional 28,494 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

MELI has been the subject of a number of research reports. Wedbush reiterated an “outperform” rating and issued a $1,800.00 price objective on shares of MercadoLibre in a report on Friday, May 3rd. JPMorgan Chase & Co. lifted their price target on shares of MercadoLibre from $2,150.00 to $2,400.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and raised their target price for the company from $1,400.00 to $2,100.00 in a research note on Monday, May 20th. The Goldman Sachs Group upped their price target on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Finally, Susquehanna lifted their price objective on MercadoLibre from $2,000.00 to $2,300.00 and gave the company a “positive” rating in a research note on Monday. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $2,063.75.

MercadoLibre Price Performance

Shares of MercadoLibre stock traded down $7.81 on Wednesday, hitting $1,997.85. 118,884 shares of the company traded hands, compared to its average volume of 367,750. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.25 and a current ratio of 1.27. The stock has a market capitalization of $101.29 billion, a P/E ratio of 89.66, a price-to-earnings-growth ratio of 1.13 and a beta of 1.60. The business has a 50-day simple moving average of $1,708.12 and a 200 day simple moving average of $1,634.14. MercadoLibre, Inc. has a 52 week low of $1,141.04 and a 52 week high of $2,029.99.

MercadoLibre (NASDAQ:MELI) last issued its 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. 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 analysts’ expectations of $4.64 billion. During the same period in the previous year, the firm posted $5.16 earnings per share. The business’s revenue was up 41.5% compared to the same quarter last year. Research analysts expect 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.