Jefferies Financial Group Inc. Acquires Shares of 786 MercadoLibre, Inc. $MELI

Jefferies Financial Group Inc. acquired a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the second quarter, HoldingsChannel.com reports. The fund acquired 786 shares of the company’s stock, valued at approximately $1,334,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cornerstone Select Advisors LLC raised its holdings in shares of MercadoLibre by 2.9% during the 4th quarter. Cornerstone Select Advisors LLC now owns 176 shares of the company’s stock valued at $355,000 after buying an additional 5 shares during the period. Mitchell Capital Management Co. boosted its holdings in MercadoLibre by 0.4% in the 4th quarter. Mitchell Capital Management Co. now owns 1,262 shares of the company’s stock worth $2,542,000 after acquiring an additional 5 shares during the period. Strategic Advisors LLC grew its position in MercadoLibre by 0.4% in the fourth quarter. Strategic Advisors LLC now owns 1,273 shares of the company’s stock valued at $2,564,000 after acquiring an additional 5 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC raised its stake in shares of MercadoLibre by 2.0% during the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 259 shares of the company’s stock valued at $605,000 after purchasing an additional 5 shares during the period. Finally, Beese Fulmer Investment Management Inc. raised its stake in shares of MercadoLibre by 2.7% during the fourth quarter. Beese Fulmer Investment Management Inc. now owns 229 shares of the company’s stock valued at $461,000 after purchasing an additional 6 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MELI. Barclays decreased their target price on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. Cantor Fitzgerald boosted their price objective on shares of MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. BTIG Research restated a “buy” rating and set a $2,150.00 target price on shares of MercadoLibre in a research note on Thursday, August 6th. JPMorgan Chase & Co. lifted their target price on MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. Finally, Scotiabank cut their price target on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a research note on Thursday, May 7th. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus price target of $2,272.00.

MercadoLibre Stock Performance

Shares of MELI opened at $1,966.25 on Friday. The firm has a fifty day moving average of $1,824.45 and a 200-day moving average of $1,772.36. The company has a market cap of $99.69 billion, a price-to-earnings ratio of 53.47, a price-to-earnings-growth ratio of 1.35 and a beta of 1.34. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,548.50.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $9.19 EPS for the quarter, beating the consensus estimate of $8.65 by $0.54. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same quarter last year, the business earned $10.31 earnings per share. MercadoLibre’s revenue was up 49.8% compared to the same quarter last year. As a group, equities analysts anticipate that MercadoLibre, Inc. will post 39.11 earnings per share for the current year.

MercadoLibre Company Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.