Carmignac Gestion Has $230.70 Million Position in MercadoLibre, Inc. $MELI

Carmignac Gestion grew its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 6.7% during the 1st quarter, HoldingsChannel reports. The firm owned 118,238 shares of the company’s stock after acquiring an additional 7,466 shares during the quarter. MercadoLibre comprises about 3.7% of Carmignac Gestion’s investment portfolio, making the stock its 7th biggest position. Carmignac Gestion’s holdings in MercadoLibre were worth $230,699,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its holdings in shares of MercadoLibre by 41.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company’s stock valued at $2,370,848,000 after buying an additional 405,425 shares during the period. Assenagon Asset Management S.A. lifted its position in MercadoLibre by 170.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 274,960 shares of the company’s stock worth $536,411,000 after buying an additional 173,449 shares in the last quarter. Invesco Ltd. raised its holdings in shares of MercadoLibre by 22.4% in the 1st quarter. Invesco Ltd. now owns 570,967 shares of the company’s stock valued at $1,113,881,000 after purchasing an additional 104,554 shares during the period. GQG Partners LLC raised its holdings in shares of MercadoLibre by 23.5% in the 1st quarter. GQG Partners LLC now owns 461,875 shares of the company’s stock valued at $901,058,000 after purchasing an additional 87,912 shares during the period. Finally, Nuveen LLC bought a new stake in shares of MercadoLibre in the 1st quarter valued at about $143,367,000. 87.62% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on MELI. The Goldman Sachs Group raised their target price on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a “buy” rating in a report on Wednesday, May 14th. Jefferies Financial Group restated a “hold” rating and issued a $2,800.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Susquehanna reiterated a “positive” rating and set a $2,975.00 price objective (up from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. Wedbush set a $2,700.00 price target on shares of MercadoLibre and gave the company an “outperform” rating in a research report on Tuesday, August 5th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $2,700.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $2,817.22.

MercadoLibre Stock Down 1.2%

Shares of MercadoLibre stock opened at $2,364.01 on Tuesday. The firm has a market capitalization of $119.86 billion, a PE ratio of 58.39, a price-to-earnings-growth ratio of 1.52 and a beta of 1.46. MercadoLibre, Inc. has a 12-month low of $1,646.00 and a 12-month high of $2,645.22. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. The stock’s fifty day moving average is $2,412.88 and its 200-day moving average is $2,266.66.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $12.01 by ($1.70). The company had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%. The business’s revenue was up 33.8% compared to the same quarter last year. During the same quarter last year, the company posted $10.48 EPS. Equities analysts anticipate that MercadoLibre, Inc. will post 43.96 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.