Gemmer Asset Management LLC Invests $213,000 in MercadoLibre, Inc. $MELI

Gemmer Asset Management LLC acquired a new position in MercadoLibre, Inc. (NASDAQ:MELI) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 81 shares of the company’s stock, valued at approximately $213,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. OLD National Bancorp IN raised its stake in shares of MercadoLibre by 16.0% in the second quarter. OLD National Bancorp IN now owns 428 shares of the company’s stock worth $1,119,000 after purchasing an additional 59 shares during the last quarter. Wealthcare Advisory Partners LLC raised its stake in shares of MercadoLibre by 3.9% in the second quarter. Wealthcare Advisory Partners LLC now owns 268 shares of the company’s stock worth $700,000 after purchasing an additional 10 shares during the last quarter. Boston Common Asset Management LLC raised its stake in shares of MercadoLibre by 25.1% in the second quarter. Boston Common Asset Management LLC now owns 5,837 shares of the company’s stock worth $15,256,000 after purchasing an additional 1,171 shares during the last quarter. Checchi Capital Advisers LLC purchased a new stake in shares of MercadoLibre in the second quarter worth approximately $246,000. Finally, AMF Tjanstepension AB raised its stake in shares of MercadoLibre by 19.9% in the second quarter. AMF Tjanstepension AB now owns 95,602 shares of the company’s stock worth $249,868,000 after purchasing an additional 15,880 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Price Performance

MercadoLibre stock opened at $2,172.75 on Friday. MercadoLibre, Inc. has a one year low of $1,646.00 and a one year high of $2,645.22. The business has a fifty day moving average price of $2,382.29 and a 200-day moving average price of $2,343.55. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. The firm has a market capitalization of $110.16 billion, a P/E ratio of 53.66, a PEG ratio of 1.44 and a beta of 1.46.

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. As a group, equities research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on MELI shares. Wedbush set a $2,700.00 price objective on MercadoLibre and gave the stock an “outperform” rating in a research note on Tuesday, August 5th. Cantor Fitzgerald upped their target price on MercadoLibre from $2,700.00 to $2,900.00 and gave the company an “overweight” rating in a report on Wednesday, September 24th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $2,750.00 target price on shares of MercadoLibre in a report on Tuesday, August 5th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $2,800.00 target price on shares of MercadoLibre in a report on Tuesday, August 5th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of MercadoLibre in a report on Saturday, September 27th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $2,822.78.

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.