Capital Investment Advisors LLC Grows Position in MercadoLibre, Inc. $MELI

Capital Investment Advisors LLC lifted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 31.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 148 shares of the company’s stock after buying an additional 35 shares during the period. Capital Investment Advisors LLC’s holdings in MercadoLibre were worth $387,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of MELI. Jennison Associates LLC lifted its holdings in MercadoLibre by 1.6% in the first quarter. Jennison Associates LLC now owns 1,154,116 shares of the company’s stock valued at $2,251,531,000 after acquiring an additional 18,731 shares during the period. Invesco Ltd. lifted its holdings in MercadoLibre by 22.4% in the first quarter. Invesco Ltd. now owns 570,967 shares of the company’s stock valued at $1,113,881,000 after acquiring an additional 104,554 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in MercadoLibre by 21.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company’s stock valued at $1,073,823,000 after acquiring an additional 96,283 shares during the period. Generation Investment Management LLP lifted its holdings in MercadoLibre by 3.3% in the first quarter. Generation Investment Management LLP now owns 530,564 shares of the company’s stock valued at $1,035,061,000 after acquiring an additional 16,878 shares during the period. Finally, GQG Partners LLC lifted its holdings in MercadoLibre by 23.5% in the first quarter. GQG Partners LLC now owns 461,875 shares of the company’s stock valued at $901,058,000 after acquiring an additional 87,912 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MELI has been the topic of a number of recent research reports. Wall Street Zen downgraded MercadoLibre from a “buy” rating to a “hold” rating in a report on Sunday, June 22nd. Scotiabank initiated coverage on MercadoLibre in a report on Monday, July 28th. They issued a “sector outperform” rating and a $3,500.00 target price on the stock. Daiwa Capital Markets initiated coverage on MercadoLibre in a research note on Friday, August 1st. They issued a “buy” rating and a $3,000.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on MercadoLibre from $2,600.00 to $2,700.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $2,750.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $2,828.33.

MercadoLibre Stock Up 3.2%

Shares of MELI opened at $2,246.60 on Friday. The business’s 50 day moving average is $2,386.09 and its 200 day moving average is $2,340.46. The company has a market capitalization of $113.90 billion, a PE ratio of 55.49, a price-to-earnings-growth ratio of 1.42 and a beta of 1.46. MercadoLibre, Inc. has a 12-month low of $1,646.00 and a 12-month high of $2,645.22. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $12.01 by ($1.70). The business had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The firm’s revenue for the quarter was up 33.8% compared to the same quarter last year. During the same period last year, the business posted $10.48 EPS. Research analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

MercadoLibre Profile

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.