MercadoLibre, Inc. $MELI Shares Acquired by Jain Global LLC

Jain Global LLC increased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 747.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,815 shares of the company’s stock after purchasing an additional 13,949 shares during the period. Jain Global LLC’s holdings in MercadoLibre were worth $36,959,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. Quadcap Wealth Management LLC lifted its stake in shares of MercadoLibre by 4.2% during the second quarter. Quadcap Wealth Management LLC now owns 124 shares of the company’s stock worth $324,000 after purchasing an additional 5 shares in the last quarter. PFW Advisors LLC grew its stake in shares of MercadoLibre by 4.8% in the third quarter. PFW Advisors LLC now owns 110 shares of the company’s stock valued at $257,000 after buying an additional 5 shares in the last quarter. Yousif Capital Management LLC grew its stake in shares of MercadoLibre by 3.5% in the third quarter. Yousif Capital Management LLC now owns 147 shares of the company’s stock valued at $344,000 after buying an additional 5 shares in the last quarter. Wilkinson Global Asset Management LLC raised its holdings 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 lifted its position in MercadoLibre by 4.0% during the 3rd quarter. Hardy Reed LLC now owns 131 shares of the company’s stock worth $306,000 after acquiring an additional 5 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on MELI shares. Weiss Ratings downgraded shares of MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, January 8th. JPMorgan Chase & Co. downgraded MercadoLibre from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $2,650.00 to $2,100.00 in a report on Thursday. Wedbush lowered their target price on shares of MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating for the company in a research note on Wednesday, February 25th. Barclays dropped their price target on MercadoLibre from $2,900.00 to $2,600.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 25th. Finally, Morgan Stanley dropped their price objective on shares of MercadoLibre from $2,800.00 to $2,600.00 and set an “overweight” rating on the stock in a report on Monday, March 9th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $2,725.33.

MercadoLibre Trading Down 0.6%

Shares of NASDAQ:MELI opened at $1,670.00 on Monday. The company has a 50 day moving average of $1,996.22 and a 200-day moving average of $2,115.41. The firm has a market cap of $84.67 billion, a P/E ratio of 42.39, a P/E/G ratio of 0.89 and a beta of 1.48. MercadoLibre, Inc. has a twelve month low of $1,631.18 and a twelve month high of $2,645.22. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68.

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

MercadoLibre Company Profile

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.