Brown Shipley& Co Ltd Grows Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Brown Shipley& Co Ltd increased its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 101.8% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 115 shares of the company’s stock after buying an additional 58 shares during the period. Brown Shipley& Co Ltd’s holdings in MercadoLibre were worth $189,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MELI. Raymond James & Associates grew its stake in shares of MercadoLibre by 4.8% in the second quarter. Raymond James & Associates now owns 34,840 shares of the company’s stock worth $57,256,000 after acquiring an additional 1,604 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in MercadoLibre by 20.3% during 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 raised its holdings in MercadoLibre by 33.4% in the first quarter. Gulf International Bank UK Ltd now owns 4,960 shares of the company’s stock worth $7,499,000 after buying an additional 1,241 shares during the last quarter. Caprock Group LLC lifted its stake in shares of MercadoLibre by 143.7% in the second quarter. Caprock Group LLC now owns 580 shares of the company’s stock worth $955,000 after buying an additional 342 shares in the last quarter. Finally, Sarasin & Partners LLP grew its holdings in shares of MercadoLibre by 168.5% during the second quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock valued at $74,622,000 after buying an additional 28,494 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on MELI shares. StockNews.com lowered MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Bank of America lifted their price target 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. Susquehanna increased their price objective on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. raised their target price on shares of MercadoLibre from $2,150.00 to $2,400.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Finally, Barclays boosted their target price on shares of MercadoLibre from $2,000.00 to $2,100.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,217.50.

MercadoLibre Trading Down 1.7 %

Shares of MELI stock opened at $2,064.71 on Monday. MercadoLibre, Inc. has a 1 year low of $1,141.04 and a 1 year high of $2,161.73. The firm has a fifty day moving average price of $1,941.21 and a 200-day moving average price of $1,712.60. The company has a market cap of $104.67 billion, a price-to-earnings ratio of 92.38, a PEG ratio of 1.34 and a beta of 1.61. 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 issued 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. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The business had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter in the prior year, the business posted $5.16 earnings per share. The business’s quarterly revenue was up 41.5% on a year-over-year basis. As a group, equities analysts predict that MercadoLibre, Inc. will post 35.79 earnings per share for the current 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.