Summa Corp. Purchases New Holdings in MercadoLibre, Inc. $MELI

Summa Corp. purchased a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the second quarter, Holdings Channel reports. The firm purchased 78 shares of the company’s stock, valued at approximately $204,000.

Several other institutional investors and hedge funds have also bought and sold shares of MELI. Invesco Ltd. grew its holdings in MercadoLibre by 22.4% during the first 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. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in MercadoLibre by 21.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company’s stock valued at $1,073,823,000 after purchasing an additional 96,283 shares during the period. GQG Partners LLC grew its holdings in MercadoLibre by 23.5% during the first 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. Nuveen LLC bought a new position in MercadoLibre during the first quarter valued at $143,367,000. Finally, Goldman Sachs Group Inc. grew its holdings in MercadoLibre by 18.7% during the first quarter. Goldman Sachs Group Inc. now owns 450,444 shares of the company’s stock valued at $878,757,000 after purchasing an additional 70,834 shares during the period. 87.62% of the stock is owned by institutional investors.

MercadoLibre Trading Down 6.2%

Shares of MELI stock opened at $2,133.67 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week high of $2,645.22. The company has a market capitalization of $108.17 billion, a PE ratio of 52.70, a price-to-earnings-growth ratio of 1.43 and a beta of 1.46. The business’s fifty day moving average is $2,363.50 and its 200 day moving average is $2,346.09.

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

Analysts Set New Price Targets

Several equities analysts have weighed in on MELI shares. Wall Street Zen lowered MercadoLibre from a “buy” rating to a “hold” rating in a report on Sunday, June 22nd. Benchmark reissued a “buy” rating and set a $2,875.00 price objective on shares of MercadoLibre in a report on Tuesday, August 5th. Weiss Ratings reissued a “buy (b)” rating on shares of MercadoLibre in a report on Wednesday. Scotiabank assumed coverage on MercadoLibre in a report on Monday, July 28th. They issued a “sector outperform” rating and a $3,500.00 price target for the company. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $2,750.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. One 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 company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,815.29.

MercadoLibre 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.