Evelyn Partners Investment Management Services Ltd Has $196,000 Stock Position in MercadoLibre, Inc. $MELI

Evelyn Partners Investment Management Services Ltd raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 158.6% during the second quarter, Holdings Channel.com reports. The fund owned 75 shares of the company’s stock after purchasing an additional 46 shares during the period. Evelyn Partners Investment Management Services Ltd’s holdings in MercadoLibre were worth $196,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of MELI. Jennison Associates LLC grew its stake in MercadoLibre by 7.0% in the second quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock valued at $3,228,460,000 after acquiring an additional 81,124 shares during the period. Invesco Ltd. boosted 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 buying an additional 104,554 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in MercadoLibre by 21.2% in 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 acquiring an additional 96,283 shares during the last quarter. Generation Investment Management LLP grew its position in shares of MercadoLibre by 3.3% in the 1st quarter. Generation Investment Management LLP now owns 530,564 shares of the company’s stock valued at $1,035,061,000 after acquiring an additional 16,878 shares during the period. Finally, GQG Partners LLC increased its stake in shares of MercadoLibre by 23.5% during the 1st quarter. GQG Partners LLC now owns 461,875 shares of the company’s stock worth $901,058,000 after purchasing an additional 87,912 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on MELI. JPMorgan Chase & Co. increased their price target on MercadoLibre from $2,600.00 to $2,650.00 and gave the company a “neutral” rating in a research note on Monday, November 3rd. Scotiabank started coverage on MercadoLibre in a research note on Monday, July 28th. They issued a “sector outperform” rating and a $3,500.00 price target for the company. Daiwa Capital Markets initiated coverage on MercadoLibre in a research note on Friday, August 1st. They set a “buy” rating and a $3,000.00 price objective on the stock. Wedbush lifted their price target on shares of MercadoLibre from $2,700.00 to $2,800.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Finally, Susquehanna reduced their price target on MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a research report on Monday, October 13th. 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 company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $2,854.71.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $1,951.78 on Friday. The stock has a fifty day moving average of $2,222.62 and a 200-day moving average of $2,362.43. The stock has a market cap of $98.95 billion, a PE ratio of 47.63, a price-to-earnings-growth ratio of 1.56 and a beta of 1.51. 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 fifty-two week low of $1,646.00 and a fifty-two week high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). The company had revenue of $7.41 billion for the quarter, compared to analysts’ expectations of $7.19 billion. MercadoLibre had a net margin of 7.93% and a return on equity of 41.35%. The firm’s quarterly revenue was up 39.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $7.83 EPS. Equities research analysts anticipate 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.