116 Shares in MercadoLibre, Inc. (NASDAQ:MELI) Bought by BayBridge Capital Group LLC

BayBridge Capital Group LLC purchased a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the 3rd quarter, HoldingsChannel reports. The firm purchased 116 shares of the company’s stock, valued at approximately $238,000.

Other hedge funds have also modified their holdings of the company. Raymond James & Associates boosted its position in MercadoLibre by 4.8% in the second quarter. Raymond James & Associates now owns 34,840 shares of the company’s stock valued at $57,256,000 after buying an additional 1,604 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of MercadoLibre by 20.3% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,642 shares of the company’s stock valued at $41,794,000 after acquiring an additional 4,658 shares during the last quarter. Caprock Group LLC increased its stake in shares of MercadoLibre by 143.7% in the second quarter. Caprock Group LLC now owns 580 shares of the company’s stock worth $955,000 after acquiring an additional 342 shares during the period. Sarasin & Partners LLP increased its stake in shares of MercadoLibre by 168.5% in the second quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock worth $74,622,000 after acquiring an additional 28,494 shares during the period. Finally, Privium Fund Management UK Ltd purchased a new position in shares of MercadoLibre during the second quarter worth $875,000. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $2,047.35 on Friday. The company has a market cap of $103.80 billion, a P/E ratio of 73.99, a P/E/G ratio of 1.26 and a beta of 1.61. MercadoLibre, Inc. has a twelve month low of $1,162.73 and a twelve month high of $2,161.73. The company’s 50-day moving average price is $2,045.69 and its 200-day moving average price is $1,777.82. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, August 1st. The company reported $10.48 earnings per share 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 net margin of 8.03% and a return on equity of 43.52%. The business’s revenue was up 41.5% on a year-over-year basis. During the same period last year, the company posted $5.16 EPS. On average, sell-side analysts forecast that MercadoLibre, Inc. will post 37.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MELI shares. Dbs Bank raised MercadoLibre from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 11th. Redburn Atlantic started coverage on MercadoLibre in a report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price target for the company. Morgan Stanley upped their price objective on MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Raymond James assumed coverage on shares of MercadoLibre in a report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 target price for the company. Finally, JPMorgan Chase & Co. downgraded shares of MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 price target on the stock. in a report on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus 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.