Advanced Portfolio Management LLC Takes $1.57 Million Position in MercadoLibre, Inc. $MELI

Advanced Portfolio Management LLC acquired a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 600 shares of the company’s stock, valued at approximately $1,568,000. MercadoLibre makes up about 4.4% of Advanced Portfolio Management LLC’s investment portfolio, making the stock its 6th biggest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jackson Wealth Management LLC bought a new position in shares of MercadoLibre during the 2nd quarter valued at about $499,000. Highview Capital Management LLC DE bought a new stake in MercadoLibre in the 2nd quarter worth approximately $559,000. Ninety One North America Inc. boosted its stake in MercadoLibre by 21.5% in the second quarter. Ninety One North America Inc. now owns 6,094 shares of the company’s stock worth $15,927,000 after buying an additional 1,080 shares in the last quarter. Resona Asset Management Co. Ltd. grew its position in MercadoLibre by 4.0% during the second quarter. Resona Asset Management Co. Ltd. now owns 15,308 shares of the company’s stock valued at $39,900,000 after acquiring an additional 585 shares during the last quarter. Finally, Jennison Associates LLC raised its stake in shares of MercadoLibre by 7.0% during the second quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock worth $3,228,460,000 after acquiring an additional 81,124 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Citigroup cut their price objective on shares of MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating for the company in a research note on Thursday, October 9th. Weiss Ratings reissued a “buy (b-)” rating on shares of MercadoLibre in a research note on Friday, October 31st. JPMorgan Chase & Co. upped their price target on shares of MercadoLibre from $2,600.00 to $2,650.00 and gave the company a “neutral” rating in a research report on Monday, November 3rd. Susquehanna reduced their price objective on MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a research note on Monday, October 13th. Finally, Zacks Research raised MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 26th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, MercadoLibre presently has an average rating of “Moderate Buy” and an average target price of $2,848.82.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $2,139.56 on Friday. The firm’s 50-day moving average is $2,154.49 and its 200 day moving average is $2,338.41. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.17 and a quick ratio of 1.15. MercadoLibre, Inc. has a 1 year low of $1,646.00 and a 1 year high of $2,645.22. The stock has a market cap of $108.48 billion, a price-to-earnings ratio of 52.21, a PEG ratio of 1.52 and a beta of 1.42.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). The business had revenue of $7.41 billion during the quarter, compared to analysts’ expectations of $7.19 billion. MercadoLibre had a return on equity of 39.03% and a net margin of 7.93%.MercadoLibre’s quarterly revenue was up 39.5% compared to the same quarter last year. During the same period last year, the firm posted $7.83 EPS. Sell-side analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS 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.