NorthCrest Asset Manangement LLC Has $17.71 Million Position in MercadoLibre, Inc. (NASDAQ:MELI)

NorthCrest Asset Manangement LLC increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 2.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,630 shares of the company’s stock after buying an additional 240 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in MercadoLibre were worth $17,708,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. GQG Partners LLC raised its position in MercadoLibre by 442.2% during the first quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock worth $1,201,679,000 after acquiring an additional 648,198 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of MercadoLibre by 205,108.3% in 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 lifted its stake in MercadoLibre by 43.2% in 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 last quarter. Strategic Financial Concepts LLC bought a new position in MercadoLibre during the second quarter worth about $2,913,000. Finally, Janus Henderson Group PLC increased its position in MercadoLibre by 55.8% during 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. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on MELI shares. Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 11th. JPMorgan Chase & Co. cut shares of MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 price objective for the company. in a research note on Wednesday, October 2nd. Susquehanna increased their target price on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research report on Wednesday, August 28th. Morgan Stanley boosted their price target on MercadoLibre from $2,175.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Finally, The Goldman Sachs Group raised their price objective on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $2,301.67.

MercadoLibre Price Performance

Shares of NASDAQ:MELI traded down $8.58 during trading on Friday, hitting $2,047.35. 217,376 shares of the company were exchanged, compared to its average volume of 345,964. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. MercadoLibre, Inc. has a 1-year low of $1,162.73 and a 1-year high of $2,161.73. The company has a market capitalization of $103.80 billion, a P/E ratio of 73.99, a price-to-earnings-growth ratio of 1.26 and a beta of 1.61. The business’s 50 day moving average is $2,045.69 and its 200-day moving average is $1,777.82.

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