Acadian Asset Management LLC Acquires Shares of 623 MercadoLibre, Inc. (NASDAQ:MELI)

Acadian Asset Management LLC bought a new position in MercadoLibre, Inc. (NASDAQ:MELI) in the 2nd quarter, HoldingsChannel reports. The fund bought 623 shares of the company’s stock, valued at approximately $1,023,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. GQG Partners LLC increased its position in MercadoLibre by 442.2% in the first quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock worth $1,201,679,000 after buying an additional 648,198 shares during the period. Norges Bank purchased a new stake in shares of MercadoLibre during the fourth quarter valued at $554,386,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of MercadoLibre by 43.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock worth $1,167,073,000 after buying an additional 232,787 shares during the period. Strategic Financial Concepts LLC acquired a new position in MercadoLibre in the 2nd quarter worth approximately $2,913,000. Finally, Janus Henderson Group PLC boosted its position in shares of MercadoLibre by 55.8% in the first quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock worth $557,225,000 after buying an additional 132,028 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Price Performance

NASDAQ:MELI opened at $2,105.51 on Tuesday. The firm has a market cap of $106.74 billion, a PE ratio of 94.21, a price-to-earnings-growth ratio of 1.33 and a beta of 1.61. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. MercadoLibre, Inc. has a 12 month low of $1,141.04 and a 12 month high of $2,143.96. The company’s 50-day moving average price is $1,869.28 and its two-hundred day moving average price is $1,677.47.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. The company had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. MercadoLibre’s quarterly revenue was up 41.5% on a year-over-year basis. During the same period in the prior year, the business earned $5.16 earnings per share. On average, equities analysts anticipate that MercadoLibre, Inc. will post 35.22 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on MELI. Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 11th. JPMorgan Chase & Co. upped their target price on MercadoLibre from $2,150.00 to $2,400.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and raised their price target for the company from $1,400.00 to $2,100.00 in a research report on Monday, May 20th. Bank of America raised their price objective on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Finally, The Goldman Sachs Group boosted their price target on MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,182.92.

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.