Mercer Global Advisors Inc. ADV Purchases 2,939 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Mercer Global Advisors Inc. ADV boosted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 265.5% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 4,046 shares of the company’s stock after purchasing an additional 2,939 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in MercadoLibre were worth $6,649,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. First PREMIER Bank bought a new position in shares of MercadoLibre during the 1st quarter valued at about $27,000. Migdal Insurance & Financial Holdings Ltd. lifted its stake in MercadoLibre by 1,600.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after buying an additional 16 shares in the last quarter. DSM Capital Partners LLC acquired a new position in shares of MercadoLibre in the fourth quarter valued at approximately $36,000. Scarborough Advisors LLC bought a new stake in shares of MercadoLibre during the fourth quarter worth $36,000. Finally, Financial Connections Group Inc. acquired a new stake in shares of MercadoLibre during the second quarter worth $36,000. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Stock Performance

Shares of MELI opened at $2,103.75 on Friday. The company has a market cap of $106.65 billion, a PE ratio of 94.13, a price-to-earnings-growth ratio of 1.33 and a beta of 1.61. The firm has a 50-day moving average of $1,899.17 and a 200-day moving average of $1,690.40. MercadoLibre, Inc. has a one year low of $1,141.04 and a one year high of $2,157.64. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26.

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

Analyst Ratings Changes

A number of research firms have issued reports on MELI. Susquehanna increased their target price on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a report on Wednesday, August 28th. Cantor Fitzgerald started coverage on MercadoLibre in a report on Thursday, September 5th. They set an “overweight” rating and a $2,530.00 price objective for the company. BTIG Research boosted their target price on MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Finally, Citigroup boosted their price objective on shares of MercadoLibre from $2,000.00 to $2,200.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $2,207.31.

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.