Deerfield Management Company L.P. Series C Acquires New Position in MercadoLibre, Inc. (NASDAQ:MELI)

Deerfield Management Company L.P. Series C bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 230 shares of the company’s stock, valued at approximately $378,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Gryphon Financial Partners LLC lifted its stake in MercadoLibre by 40.9% during the fourth 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 raised its holdings in shares of MercadoLibre by 8.7% in the 4th quarter. Orion Portfolio Solutions LLC now owns 489 shares of the company’s stock valued at $770,000 after buying an additional 39 shares during the period. Focus Financial Network Inc. ADV acquired a new position in MercadoLibre during the 4th quarter worth about $212,000. Dorsey & Whitney Trust CO LLC purchased a new position in MercadoLibre during the 4th quarter valued at about $212,000. Finally, Scotia Capital Inc. acquired a new position in MercadoLibre in the 4th quarter valued at about $226,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Stock Down 1.7 %

Shares of NASDAQ:MELI opened at $2,064.71 on Friday. MercadoLibre, Inc. has a 1-year low of $1,141.04 and a 1-year high of $2,161.73. The company’s fifty day moving average is $1,932.91 and its two-hundred day moving average is $1,706.72. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. The stock has a market capitalization of $104.67 billion, a price-to-earnings ratio of 92.38, a price-to-earnings-growth ratio of 1.34 and a beta of 1.61.

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on MELI shares. Cantor Fitzgerald restated an “overweight” rating and issued a $2,530.00 price objective on shares of MercadoLibre in a report on Monday, September 23rd. StockNews.com lowered MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Bank of America boosted their target price on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Morgan Stanley increased their price target on MercadoLibre from $2,175.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Finally, BTIG Research lifted their price objective on MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Two 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 MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $2,217.50.

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.