PFG Investments LLC Takes $307,000 Position in MercadoLibre, Inc. (NASDAQ:MELI)

PFG Investments LLC bought a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the second quarter, Holdings Channel reports. The fund bought 187 shares of the company’s stock, valued at approximately $307,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Raymond James & Associates lifted its holdings in MercadoLibre by 4.8% in the 2nd quarter. Raymond James & Associates now owns 34,840 shares of the company’s stock valued at $57,256,000 after purchasing an additional 1,604 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in MercadoLibre by 20.3% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,642 shares of the company’s stock valued at $41,794,000 after purchasing an additional 4,658 shares in the last quarter. Gulf International Bank UK Ltd lifted its holdings in MercadoLibre by 33.4% in the 1st quarter. Gulf International Bank UK Ltd now owns 4,960 shares of the company’s stock valued at $7,499,000 after purchasing an additional 1,241 shares in the last quarter. Sarasin & Partners LLP lifted its holdings in MercadoLibre by 168.5% in the 2nd quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock valued at $74,622,000 after purchasing an additional 28,494 shares in the last quarter. Finally, Caprock Group LLC lifted its holdings in MercadoLibre by 143.7% in the 2nd quarter. Caprock Group LLC now owns 580 shares of the company’s stock valued at $955,000 after purchasing an additional 342 shares in 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 brokerages have issued reports on MELI. Cantor Fitzgerald began coverage on MercadoLibre in a research note on Thursday, September 5th. They issued an “overweight” rating and a $2,530.00 target price for the company. JPMorgan Chase & Co. raised their target price on MercadoLibre from $2,150.00 to $2,400.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. The Goldman Sachs Group raised their target price on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Citigroup raised their target price 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. Finally, Bank of America raised 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. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $2,182.92.

MercadoLibre Stock Down 0.8 %

Shares of NASDAQ:MELI opened at $2,122.37 on Friday. The business has a 50-day moving average price of $1,860.84 and a 200 day moving average price of $1,672.76. 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 company has a market capitalization of $107.60 billion, a price-to-earnings ratio of 94.96, a PEG ratio of 1.33 and a beta of 1.61. MercadoLibre, Inc. has a 12-month low of $1,141.04 and a 12-month high of $2,143.96.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, beating the consensus estimate of $8.53 by $1.95. The company had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.64 billion. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. MercadoLibre’s revenue was up 41.5% compared to the same quarter last year. During the same period in the previous year, the company posted $5.16 EPS. Sell-side analysts expect that MercadoLibre, Inc. will post 35.22 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.