MercadoLibre, Inc. (NASDAQ:MELI) Shares Acquired by Banco Santander S.A.

Banco Santander S.A. boosted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 7.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,157 shares of the company’s stock after acquiring an additional 77 shares during the quarter. Banco Santander S.A.’s holdings in MercadoLibre were worth $1,901,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in MELI. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in MercadoLibre by 1,600.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after buying an additional 16 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in shares of MercadoLibre by 13.9% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 762 shares of the company’s stock worth $1,252,000 after purchasing an additional 93 shares in the last quarter. Whittier Trust Co. raised its stake in MercadoLibre by 4.6% in the 2nd quarter. Whittier Trust Co. now owns 1,250 shares of the company’s stock valued at $2,054,000 after purchasing an additional 55 shares during the last quarter. K.J. Harrison & Partners Inc lifted its holdings in MercadoLibre by 66.7% in the 2nd quarter. K.J. Harrison & Partners Inc now owns 500 shares of the company’s stock valued at $822,000 after purchasing an additional 200 shares in the last quarter. Finally, Financial Connections Group Inc. acquired a new stake in MercadoLibre during the 2nd quarter worth $36,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on MELI shares. Susquehanna increased their target price on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research report on Wednesday. Barclays raised their target price on shares of MercadoLibre from $2,000.00 to $2,100.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Citigroup upped their price target on MercadoLibre from $2,000.00 to $2,200.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Finally, BTIG Research upped their target price on MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $2,067.92.

MercadoLibre Trading Up 1.0 %

MELI traded up $20.62 on Thursday, hitting $2,015.79. The company had a trading volume of 199,231 shares, compared to its average volume of 362,794. The company’s fifty day moving average price is $1,759.41 and its 200 day moving average price is $1,646.20. MercadoLibre, Inc. has a 1 year low of $1,141.04 and a 1 year high of $2,048.99. The company has a current ratio of 1.27, a quick ratio of 1.25 and a debt-to-equity ratio of 0.66. The firm has a market cap of $102.19 billion, a P/E ratio of 90.19, a PEG ratio of 1.13 and a beta of 1.60.

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