Dnca Finance Buys 1,378 Shares of MercadoLibre, Inc. $MELI

Dnca Finance raised its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 26.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 6,687 shares of the company’s stock after purchasing an additional 1,378 shares during the quarter. MercadoLibre accounts for 1.3% of Dnca Finance’s portfolio, making the stock its 24th biggest position. Dnca Finance’s holdings in MercadoLibre were worth $17,477,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Bison Wealth LLC bought a new stake in MercadoLibre during the 4th quarter valued at $206,000. Vanguard Group Inc. raised its stake in shares of MercadoLibre by 1.2% during the first quarter. Vanguard Group Inc. now owns 208,190 shares of the company’s stock valued at $406,152,000 after acquiring an additional 2,562 shares during the last quarter. Citizens Financial Group Inc. RI purchased a new stake in shares of MercadoLibre during the first quarter worth about $234,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of MercadoLibre by 12.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 41,125 shares of the company’s stock worth $80,230,000 after purchasing an additional 4,488 shares during the last quarter. Finally, WBH Advisory Inc. grew its stake in shares of MercadoLibre by 1.9% in the first quarter. WBH Advisory Inc. now owns 541 shares of the company’s stock worth $1,055,000 after purchasing an additional 10 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on MELI shares. Cantor Fitzgerald lowered their price target on MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Zacks Research upgraded MercadoLibre from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 26th. BTIG Research reiterated a “buy” rating and issued a $2,750.00 price target on shares of MercadoLibre in a report on Thursday. Susquehanna reduced their price objective on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a research report on Monday, October 13th. Finally, Barclays raised their target price on shares of MercadoLibre from $2,800.00 to $2,900.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $2,848.82.

MercadoLibre Price Performance

MELI opened at $2,066.42 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55. The company has a market cap of $104.77 billion, a price-to-earnings ratio of 50.43, a price-to-earnings-growth ratio of 1.48 and a beta of 1.42. The stock has a fifty day simple moving average of $2,146.45 and a two-hundred day simple moving average of $2,333.15. MercadoLibre, Inc. has a 12-month low of $1,646.00 and a 12-month high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last released 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%.The firm’s quarterly revenue was up 39.5% compared to the same quarter last year. During the same period in the prior year, the company earned $7.83 earnings per share. Research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

MercadoLibre Company 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.