MercadoLibre, Inc. (NASDAQ:MELI) Shares Purchased by Waverton Investment Management Ltd

Waverton Investment Management Ltd increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,599 shares of the company’s stock after purchasing an additional 230 shares during the quarter. Waverton Investment Management Ltd’s holdings in MercadoLibre were worth $33,865,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. increased its position in MercadoLibre by 1,600.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after acquiring an additional 16 shares during the period. First PREMIER Bank bought a new position in MercadoLibre during the 1st quarter valued at $27,000. Financial Connections Group Inc. bought a new stake in MercadoLibre in the second quarter worth about $36,000. DSM Capital Partners LLC acquired a new stake in MercadoLibre in the 4th quarter valued at about $36,000. Finally, Scarborough Advisors LLC acquired a new position in MercadoLibre in the fourth quarter worth approximately $36,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

MELI has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price on MercadoLibre from $2,150.00 to $2,400.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. StockNews.com downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. New Street Research downgraded MercadoLibre from a “buy” rating to a “neutral” rating in a report on Friday, May 24th. BTIG Research boosted their price objective on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Finally, Cantor Fitzgerald started coverage on MercadoLibre in a research note on Thursday. They issued an “overweight” rating and a $2,530.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $2,141.25.

MercadoLibre Stock Up 2.3 %

MELI opened at $2,038.18 on Friday. MercadoLibre, Inc. has a twelve month low of $1,141.04 and a twelve month high of $2,064.76. The firm’s 50-day simple moving average is $1,807.59 and its 200-day simple moving average is $1,658.61. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. The firm has a market cap of $103.33 billion, a price-to-earnings ratio of 91.19, a PEG ratio of 1.36 and a beta of 1.60.

MercadoLibre (NASDAQ:MELI) last announced its earnings results 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. The company had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.64 billion. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The firm’s quarterly revenue was up 41.5% compared to the same quarter last year. During the same period last year, the company posted $5.16 earnings per share. Equities research analysts anticipate that MercadoLibre, Inc. will post 35.22 EPS for the current fiscal year.

MercadoLibre Company 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.