MercadoLibre, Inc. (NASDAQ:MELI) Stock Holdings Lifted by Chicago Capital LLC

Chicago Capital LLC raised its position in MercadoLibre, Inc. (NASDAQ:MELI) by 0.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,602 shares of the company’s stock after purchasing an additional 15 shares during the quarter. Chicago Capital LLC’s holdings in MercadoLibre were worth $5,920,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MELI. GQG Partners LLC grew its stake in MercadoLibre by 442.2% in the first quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock valued at $1,201,679,000 after purchasing an additional 648,198 shares in the last quarter. Norges Bank acquired a new stake in shares of MercadoLibre in the fourth quarter worth about $554,386,000. Price T Rowe Associates Inc. MD lifted its position in shares of MercadoLibre by 43.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock worth $1,167,073,000 after buying an additional 232,787 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of MercadoLibre by 55.8% in the first quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock worth $557,225,000 after buying an additional 132,028 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of MercadoLibre by 1,432.2% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 127,355 shares of the company’s stock worth $200,140,000 after buying an additional 119,043 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

MELI has been the subject of a number of analyst reports. New Street Research cut MercadoLibre from a “buy” rating to a “neutral” rating in a research report on Friday, May 24th. StockNews.com cut MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Citigroup boosted their price objective on MercadoLibre from $2,000.00 to $2,200.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. The Goldman Sachs Group boosted their price objective on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, Cantor Fitzgerald began coverage on MercadoLibre in a report on Thursday. They issued an “overweight” rating and a $2,530.00 price target for the company. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, MercadoLibre currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,141.25.

MercadoLibre Price Performance

Shares of MELI stock traded down $52.13 during trading hours on Friday, hitting $1,986.05. The company had a trading volume of 304,456 shares, compared to its average volume of 360,635. MercadoLibre, Inc. has a 12 month low of $1,141.04 and a 12 month high of $2,064.76. The firm has a market capitalization of $100.69 billion, a price-to-earnings ratio of 88.86, a PEG ratio of 1.36 and a beta of 1.61. The firm’s fifty day moving average is $1,814.44 and its 200 day moving average is $1,660.11. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. The business had revenue of $5.07 billion for 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%. MercadoLibre’s revenue for the quarter was up 41.5% on a year-over-year basis. During the same period in the prior year, the company earned $5.16 EPS. On average, sell-side analysts predict that MercadoLibre, Inc. will post 35.22 EPS for the current fiscal 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.