ABN Amro Investment Solutions Takes $17.24 Million Position in MercadoLibre, Inc. $MELI

ABN Amro Investment Solutions bought a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 6,597 shares of the company’s stock, valued at approximately $17,242,000.

Other hedge funds have also bought and sold shares of the company. Bison Wealth LLC acquired a new position in MercadoLibre in the fourth quarter valued at approximately $206,000. Ballentine Partners LLC bought a new stake in shares of MercadoLibre in the 1st quarter worth approximately $254,000. Schechter Investment Advisors LLC boosted its position in MercadoLibre by 7.7% during the 1st quarter. Schechter Investment Advisors LLC now owns 195 shares of the company’s stock valued at $380,000 after purchasing an additional 14 shares during the period. Stephens Inc. AR boosted its position in MercadoLibre by 18.8% during the 1st quarter. Stephens Inc. AR now owns 1,453 shares of the company’s stock valued at $2,835,000 after purchasing an additional 230 shares during the period. Finally, CWM LLC grew its stake in MercadoLibre by 10.7% during the 1st quarter. CWM LLC now owns 913 shares of the company’s stock worth $1,781,000 after buying an additional 88 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MELI has been the topic of a number of recent research reports. Citigroup cut their target price on MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating on the stock in a research note on Thursday, October 9th. Scotiabank started coverage on shares of MercadoLibre in a report on Monday, July 28th. They issued a “sector outperform” rating and a $3,500.00 price objective on the stock. Daiwa Capital Markets initiated coverage on shares of MercadoLibre in a research note on Friday, August 1st. They set a “buy” rating and a $3,000.00 target price for the company. Benchmark decreased their target price on shares of MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. Finally, Wedbush lifted their price target on MercadoLibre from $2,700.00 to $2,800.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and an average target price of $2,861.25.

MercadoLibre Stock Up 0.2%

Shares of MELI stock opened at $2,103.91 on Thursday. MercadoLibre, Inc. has a 1 year low of $1,646.00 and a 1 year high of $2,645.22. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. The business’s fifty day moving average is $2,271.75 and its 200-day moving average is $2,375.57. The stock has a market cap of $106.66 billion, a PE ratio of 51.34, a price-to-earnings-growth ratio of 1.56 and a beta of 1.51.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $8.32 earnings per share for the quarter, missing the consensus estimate of $9.88 by ($1.56). The firm had revenue of $7.41 billion during the quarter, compared to analyst estimates of $7.19 billion. MercadoLibre had a net margin of 7.93% and a return on equity of 41.35%. The company’s quarterly revenue was up 39.5% compared to the same quarter last year. During the same quarter last year, the company earned $7.83 EPS. Equities analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal 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.