Duquesne Family Office LLC Makes New Investment in MercadoLibre, Inc. (NASDAQ:MELI)

Duquesne Family Office LLC purchased a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 36,493 shares of the company’s stock, valued at approximately $59,973,000. MercadoLibre comprises approximately 2.1% of Duquesne Family Office LLC’s portfolio, making the stock its 15th biggest position. Duquesne Family Office LLC owned about 0.07% of MercadoLibre at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of MELI. Gryphon Financial Partners LLC boosted its holdings in shares of MercadoLibre by 40.9% in the 4th quarter. Gryphon Financial Partners LLC now owns 513 shares of the company’s stock worth $861,000 after purchasing an additional 149 shares in the last quarter. Orion Portfolio Solutions LLC grew its position in MercadoLibre by 8.7% during the fourth quarter. Orion Portfolio Solutions LLC now owns 489 shares of the company’s stock valued at $770,000 after acquiring an additional 39 shares during the last quarter. Edmond DE Rothschild Holding S.A. grew its position in MercadoLibre by 103.7% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 1,387 shares of the company’s stock valued at $2,180,000 after acquiring an additional 706 shares during the last quarter. TD Asset Management Inc raised its stake in shares of MercadoLibre by 5.1% during the fourth quarter. TD Asset Management Inc now owns 47,419 shares of the company’s stock worth $74,521,000 after acquiring an additional 2,290 shares in the last quarter. Finally, Stifel Financial Corp lifted its holdings in shares of MercadoLibre by 5.3% in the 4th quarter. Stifel Financial Corp now owns 44,490 shares of the company’s stock worth $69,918,000 after acquiring an additional 2,231 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. The Goldman Sachs Group lifted their target price on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. increased their target price on MercadoLibre from $2,150.00 to $2,400.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. Citigroup lifted their price target on MercadoLibre from $2,000.00 to $2,200.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Susquehanna increased their price objective on MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research note on Wednesday, August 28th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $2,530.00 target price on shares of MercadoLibre in a research note on Monday. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average price target of $2,207.31.

MercadoLibre Trading Up 1.0 %

Shares of MELI opened at $2,131.29 on Thursday. The firm’s 50-day moving average price is $1,914.15 and its 200-day moving average price is $1,700.96. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $108.05 billion, a price-to-earnings ratio of 95.36, a PEG ratio of 1.34 and a beta of 1.61. MercadoLibre, Inc. has a 1-year low of $1,141.04 and a 1-year high of $2,157.64.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, beating analysts’ consensus estimates of $8.53 by $1.95. The firm had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The company’s quarterly revenue was up 41.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.16 EPS. Sell-side analysts anticipate that MercadoLibre, Inc. will post 35.79 EPS for the current 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.