475 Shares in MercadoLibre, Inc. $MELI Purchased by City of London Investment Management Co. Ltd.

City of London Investment Management Co. Ltd. purchased a new position in MercadoLibre, Inc. (NASDAQ:MELIFree Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 475 shares of the company’s stock, valued at approximately $1,110,000.

A number of other institutional investors and hedge funds also recently modified their holdings of MELI. Quadcap Wealth Management LLC boosted its position in shares of MercadoLibre by 4.2% in the second quarter. Quadcap Wealth Management LLC now owns 124 shares of the company’s stock worth $324,000 after acquiring an additional 5 shares during the last quarter. PFW Advisors LLC raised its stake in MercadoLibre by 4.8% during the third quarter. PFW Advisors LLC now owns 110 shares of the company’s stock worth $257,000 after purchasing an additional 5 shares during the period. Yousif Capital Management LLC boosted its holdings in shares of MercadoLibre by 3.5% in the 3rd quarter. Yousif Capital Management LLC now owns 147 shares of the company’s stock valued at $344,000 after purchasing an additional 5 shares during the last quarter. Wilkinson Global Asset Management LLC grew its stake in shares of MercadoLibre by 2.3% during the 3rd quarter. Wilkinson Global Asset Management LLC now owns 226 shares of the company’s stock valued at $528,000 after buying an additional 5 shares during the period. Finally, Hardy Reed LLC increased its holdings in shares of MercadoLibre by 4.0% during the 3rd quarter. Hardy Reed LLC now owns 131 shares of the company’s stock worth $306,000 after buying an additional 5 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Key Headlines Impacting MercadoLibre

Here are the key news stories impacting MercadoLibre this week:

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Weiss Ratings cut MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, January 8th. Cantor Fitzgerald reduced their price objective on MercadoLibre from $2,750.00 to $2,400.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 25th. JPMorgan Chase & Co. cut MercadoLibre from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $2,650.00 to $2,100.00 in a report on Thursday. Zacks Research raised shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Friday, February 6th. Finally, Wedbush decreased their price target on shares of MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating for the company in a research report on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $2,725.33.

Check Out Our Latest Stock Report on MELI

MercadoLibre Stock Performance

Shares of MELI opened at $1,670.00 on Friday. The firm has a market cap of $84.67 billion, a price-to-earnings ratio of 42.39, a PEG ratio of 0.89 and a beta of 1.48. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.68. The business’s 50 day moving average is $1,996.22 and its two-hundred day moving average is $2,117.50. MercadoLibre, Inc. has a 52-week low of $1,631.18 and a 52-week high of $2,645.22.

MercadoLibre (NASDAQ:MELIGet Free Report) last released its quarterly earnings results on Tuesday, February 24th. The company reported $11.03 earnings per share for the quarter, missing analysts’ consensus estimates of $11.66 by ($0.63). The company had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.45 billion. MercadoLibre had a return on equity of 33.73% and a net margin of 6.91%.The firm’s quarterly revenue was up 44.6% compared to the same quarter last year. During the same period in the previous year, the business posted $12.61 EPS. Analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

MercadoLibre Company Profile

(Free Report)

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.

See Also

Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)

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