Massachusetts Financial Services Co. MA Invests $198.24 Million in MercadoLibre, Inc. $MELI

Massachusetts Financial Services Co. MA acquired a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 75,850 shares of the company’s stock, valued at approximately $198,244,000. Massachusetts Financial Services Co. MA owned approximately 0.15% of MercadoLibre as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. GW&K Investment Management LLC acquired a new position in shares of MercadoLibre in the first quarter worth $25,000. Close Asset Management Ltd boosted its position in MercadoLibre by 366.7% during the first quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock valued at $27,000 after purchasing an additional 11 shares during the last quarter. Highline Wealth Partners LLC grew its stake in MercadoLibre by 366.7% in the second quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock valued at $37,000 after purchasing an additional 11 shares in the last quarter. Brooklyn Investment Group increased its position in MercadoLibre by 650.0% in 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. Finally, Twin Tree Management LP purchased a new stake in shares of MercadoLibre during the 1st quarter worth about $29,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Morgan Stanley boosted their price target on MercadoLibre from $2,850.00 to $2,950.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. BTIG Research reiterated a “buy” rating and issued a $2,750.00 target price on shares of MercadoLibre in a research note on Friday. Barclays boosted their target price on shares of MercadoLibre from $2,800.00 to $2,900.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Daiwa Capital Markets assumed coverage on shares of MercadoLibre in a research note on Friday, August 1st. They set a “buy” rating and a $3,000.00 price target on the stock. Finally, Raymond James Financial restated a “strong-buy” rating and set a $2,750.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $2,854.71.

MercadoLibre Stock Up 0.9%

Shares of MercadoLibre stock opened at $2,048.89 on Monday. 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 has a 50 day moving average price of $2,256.65 and a two-hundred day moving average price of $2,373.01. The stock has a market capitalization of $103.87 billion, a P/E ratio of 50.00, a PEG ratio of 1.56 and a beta of 1.51.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Wednesday, October 29th. The company reported $8.32 EPS for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). MercadoLibre had a net margin of 7.93% and a return on equity of 41.35%. The firm had revenue of $7.41 billion during the quarter, compared to the consensus estimate of $7.19 billion. During the same period in the prior year, the business earned $7.83 EPS. The company’s revenue for the quarter was up 39.5% compared to the same quarter last year. Equities analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

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.