AdvisorNet Financial Inc lifted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI – Get Rating) by 16.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 960 shares of the company’s stock after purchasing an additional 138 shares during the period. AdvisorNet Financial Inc’s holdings in MercadoLibre were worth $611,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Baillie Gifford & Co. increased its position in MercadoLibre by 1.6% in the 1st quarter. Baillie Gifford & Co. now owns 5,035,323 shares of the company’s stock valued at $5,989,415,000 after acquiring an additional 77,784 shares during the period. Capital Research Global Investors increased its position in MercadoLibre by 20.5% in the 4th quarter. Capital Research Global Investors now owns 4,641,606 shares of the company’s stock valued at $6,258,766,000 after acquiring an additional 789,308 shares during the period. Jennison Associates LLC increased its position in MercadoLibre by 20.7% in the 1st quarter. Jennison Associates LLC now owns 2,459,395 shares of the company’s stock valued at $2,925,401,000 after acquiring an additional 421,186 shares during the period. JPMorgan Chase & Co. increased its position in MercadoLibre by 1.3% in the 1st quarter. JPMorgan Chase & Co. now owns 1,658,446 shares of the company’s stock valued at $1,972,687,000 after acquiring an additional 21,749 shares during the period. Finally, Sands Capital Management LLC increased its position in MercadoLibre by 8.7% in the 1st quarter. Sands Capital Management LLC now owns 1,307,891 shares of the company’s stock valued at $1,555,710,000 after acquiring an additional 104,932 shares during the period. Institutional investors and hedge funds own 89.00% of the company’s stock.
Analysts Set New Price Targets
Several brokerages recently issued reports on MELI. StockNews.com upgraded MercadoLibre from a “sell” rating to a “hold” rating in a research report on Thursday, August 4th. Stifel Nicolaus dropped their price target on MercadoLibre from $1,200.00 to $1,000.00 in a research report on Friday, July 15th. JPMorgan Chase & Co. boosted their price target on MercadoLibre from $1,300.00 to $1,350.00 in a research report on Monday, August 8th. Barclays dropped their target price on MercadoLibre from $1,500.00 to $1,250.00 and set an “overweight” rating on the stock in a research report on Thursday, August 4th. Finally, KGI Securities assumed coverage on MercadoLibre in a research report on Monday, June 6th. They set an “outperform” rating on the stock. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,388.18.
MercadoLibre Stock Performance
MercadoLibre (NASDAQ:MELI – Get Rating) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.75. MercadoLibre had a return on equity of 19.66% and a net margin of 2.68%. During the same period in the previous year, the company earned $1.37 earnings per share. Sell-side analysts expect that MercadoLibre, Inc. will post 7.78 EPS for the current fiscal year.
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.
- Get a free copy of the StockNews.com research report on MercadoLibre (MELI)
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