Tekne Capital Management LLC Buys 686 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Tekne Capital Management LLC raised its position in MercadoLibre, Inc. (NASDAQ:MELIGet Rating) by 28.7% during the first quarter, HoldingsChannel.com reports. The firm owned 3,080 shares of the company’s stock after buying an additional 686 shares during the quarter. MercadoLibre comprises 0.8% of Tekne Capital Management LLC’s investment portfolio, making the stock its 10th biggest position. Tekne Capital Management LLC’s holdings in MercadoLibre were worth $3,664,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Verdence Capital Advisors LLC bought a new position in shares of MercadoLibre in the first quarter valued at approximately $353,000. Van ECK Associates Corp raised its holdings in MercadoLibre by 58.1% in the 1st quarter. Van ECK Associates Corp now owns 220,373 shares of the company’s stock valued at $262,129,000 after acquiring an additional 80,954 shares during the period. O Shaughnessy Asset Management LLC grew its position in MercadoLibre by 108.3% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 225 shares of the company’s stock worth $303,000 after buying an additional 117 shares in the last quarter. Level Four Advisory Services LLC lifted its position in shares of MercadoLibre by 147.0% during the 1st quarter. Level Four Advisory Services LLC now owns 368 shares of the company’s stock worth $438,000 after buying an additional 219 shares during the last quarter. Finally, Advisory Alpha LLC boosted its position in MercadoLibre by 7.4% during the 1st quarter. Advisory Alpha LLC now owns 217 shares of the company’s stock worth $259,000 after buying an additional 15 shares during the period. 89.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Stifel Nicolaus cut their price objective on shares of MercadoLibre from $1,200.00 to $1,000.00 in a report on Friday, July 15th. StockNews.com upgraded shares of MercadoLibre from a “sell” rating to a “hold” rating in a research note on Thursday, August 4th. JPMorgan Chase & Co. lifted their target price on MercadoLibre from $1,300.00 to $1,350.00 in a research note on Monday, August 8th. Jefferies Financial Group cut their target price on shares of MercadoLibre from $850.00 to $800.00 in a research report on Thursday, July 21st. Finally, Citigroup cut their target price on shares of MercadoLibre from $1,500.00 to $1,150.00 and set a “buy” rating for the company in a report on Thursday, June 9th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average target price of $1,388.18.

MercadoLibre Trading Up 5.3 %

NASDAQ:MELI opened at $970.99 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.30 and a debt-to-equity ratio of 1.59. MercadoLibre, Inc. has a 52 week low of $600.68 and a 52 week high of $1,922.56. The stock has a market cap of $48.88 billion, a price-to-earnings ratio of 205.28 and a beta of 1.63. The company’s 50 day moving average price is $851.12 and its 200-day moving average price is $905.26.

MercadoLibre (NASDAQ:MELIGet Rating) last posted its earnings results on Wednesday, August 3rd. The company reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.75. MercadoLibre had a net margin of 2.68% and a return on equity of 19.66%. During the same quarter in the prior year, the business posted $1.37 EPS. On average, equities research analysts forecast that MercadoLibre, Inc. will post 7.78 earnings per share for the current fiscal year.

MercadoLibre Profile

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MercadoLibre, Inc operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; 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.

Further Reading

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Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)

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