E Fund Management Hong Kong Co. Ltd. Raises Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

E Fund Management Hong Kong Co. Ltd. raised its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 4,100.0% during the third quarter, Holdings Channel reports. The firm owned 42 shares of the company’s stock after buying an additional 41 shares during the quarter. E Fund Management Hong Kong Co. Ltd.’s holdings in MercadoLibre were worth $86,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in MELI. GQG Partners LLC increased its position in MercadoLibre by 442.2% during the 1st 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 during the period. International Assets Investment Management LLC increased its position in MercadoLibre by 205,108.3% during the 3rd quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock valued at $509,506,000 after purchasing an additional 248,181 shares during the period. Price T Rowe Associates Inc. MD increased its position in MercadoLibre by 43.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock valued at $1,167,073,000 after purchasing an additional 232,787 shares during the period. Strategic Financial Concepts LLC purchased a new position in MercadoLibre during the 2nd quarter valued at $2,913,000. Finally, Janus Henderson Group PLC increased its position in MercadoLibre by 55.8% during the 1st quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock valued at $557,225,000 after purchasing an additional 132,028 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $2,020.72 on Thursday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26. The stock has a market cap of $102.44 billion, a price-to-earnings ratio of 90.41, a PEG ratio of 1.26 and a beta of 1.61. The firm’s 50-day moving average is $2,048.32 and its 200 day moving average is $1,795.41. MercadoLibre, Inc. has a 1 year low of $1,205.80 and a 1 year high of $2,161.73.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.53 by $1.95. The business had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The business’s revenue for the quarter was up 41.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.16 EPS. Sell-side analysts anticipate that MercadoLibre, Inc. will post 37.55 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Citigroup upped their target price on shares of MercadoLibre from $2,200.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Redburn Atlantic assumed coverage on shares of MercadoLibre in a research report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 target price on the stock. StockNews.com downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $2,530.00 target price on shares of MercadoLibre in a research report on Monday, October 7th. Finally, Raymond James assumed coverage on shares of MercadoLibre in a research report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $2,301.67.

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.