Rydar Equities Inc. Purchases Shares of 1,664 MercadoLibre, Inc. $MELI

Rydar Equities Inc. purchased a new position in MercadoLibre, Inc. (NASDAQ:MELI) during the second quarter, HoldingsChannel.com reports. The fund purchased 1,664 shares of the company’s stock, valued at approximately $4,349,000. MercadoLibre comprises about 3.4% of Rydar Equities Inc.’s portfolio, making the stock its 6th largest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Lavaca Capital LLC increased its holdings in MercadoLibre by 140,201.3% during the 2nd quarter. Lavaca Capital LLC now owns 1,066,290 shares of the company’s stock valued at $2,786,888,000 after purchasing an additional 1,065,530 shares during the period. Norges Bank bought a new stake in shares of MercadoLibre in the 2nd quarter worth approximately $698,848,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of MercadoLibre by 304.7% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 255,103 shares of the company’s stock valued at $666,744,000 after buying an additional 192,071 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings 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 in the last quarter. Finally, Durable Capital Partners LP increased its position in MercadoLibre by 155.3% during the 2nd quarter. Durable Capital Partners LP now owns 147,984 shares of the company’s stock valued at $386,775,000 after purchasing an additional 90,026 shares during the period. 87.62% of the stock is owned by institutional investors.

Insider Activity

In other MercadoLibre news, Director Stelleo Tolda sold 246 shares of MercadoLibre stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $2,047.88, for a total value of $503,778.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Emiliano Calemzuk sold 45 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $2,027.37, for a total transaction of $91,231.65. Following the completion of the transaction, the director owned 257 shares in the company, valued at approximately $521,034.09. This represents a 14.90% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.25% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on MELI shares. UBS Group cut their target price on shares of MercadoLibre from $3,000.00 to $2,900.00 and set a “buy” rating on the stock in a research note on Monday, November 24th. Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “moderate buy” rating in a report on Tuesday, December 2nd. Wedbush upped their target price on MercadoLibre from $2,700.00 to $2,800.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Weiss Ratings restated a “buy (b-)” rating on shares of MercadoLibre in a research note on Friday, October 31st. 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 note on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $2,848.82.

MercadoLibre Price Performance

MELI stock opened at $2,015.89 on Monday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.15 and a current ratio of 1.17. The firm has a 50 day moving average price of $2,121.14 and a 200-day moving average price of $2,313.24. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week high of $2,645.22. The firm has a market capitalization of $102.21 billion, a price-to-earnings ratio of 49.19, a PEG ratio of 1.50 and a beta of 1.42.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data 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). MercadoLibre had a net margin of 7.93% and a return on equity of 39.03%. The company had revenue of $7.41 billion for the quarter, compared to the consensus estimate of $7.19 billion. During the same period last year, the business earned $7.83 EPS. The firm’s quarterly revenue was up 39.5% on a year-over-year basis. Equities 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.