MercadoLibre, Inc. $MELI Shares Purchased by Sarasin & Partners LLP

Sarasin & Partners LLP increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 24.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 76,303 shares of the company’s stock after purchasing an additional 15,201 shares during the period. MercadoLibre accounts for about 2.0% of Sarasin & Partners LLP’s holdings, making the stock its 21st biggest holding. Sarasin & Partners LLP owned approximately 0.15% of MercadoLibre worth $199,428,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Key Financial Inc acquired a new stake in MercadoLibre during the first quarter worth $25,000. GW&K Investment Management LLC acquired a new stake in MercadoLibre during the first quarter worth $25,000. Close Asset Management Ltd increased its stake in MercadoLibre by 366.7% during the first quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock worth $27,000 after acquiring an additional 11 shares during the last quarter. Park Square Financial Group LLC acquired a new stake in shares of MercadoLibre during the 4th quarter worth about $26,000. Finally, Brooklyn Investment Group increased its position in shares of MercadoLibre by 650.0% during the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock worth $29,000 after purchasing an additional 13 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on MELI. Wall Street Zen cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Sunday, June 22nd. Jefferies Financial Group reissued a “hold” rating and issued a $2,800.00 price target on shares of MercadoLibre in a research note on Tuesday, August 5th. Benchmark reissued a “buy” rating and issued a $2,875.00 target price on shares of MercadoLibre in a research report on Tuesday, August 5th. Citigroup cut their target price on MercadoLibre from $2,900.00 to $2,850.00 and set a “buy” rating on the stock in a research report on Monday, August 18th. Finally, UBS Group set a $3,000.00 price objective on MercadoLibre in a report on Monday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $2,817.22.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $2,390.14 on Wednesday. The firm has a market capitalization of $121.18 billion, a P/E ratio of 59.03, a P/E/G ratio of 1.52 and a beta of 1.49. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week 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 firm’s 50 day moving average is $2,379.94 and its two-hundred day moving average is $2,310.12.

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