Concurrent Investment Advisors LLC Grows Position in MercadoLibre, Inc. $MELI

Concurrent Investment Advisors LLC boosted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 15.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 519 shares of the company’s stock after buying an additional 68 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in MercadoLibre were worth $1,355,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of MELI. Ninety One North America Inc. increased its position in shares of MercadoLibre by 21.5% during the 2nd quarter. Ninety One North America Inc. now owns 6,094 shares of the company’s stock valued at $15,927,000 after purchasing an additional 1,080 shares during the last quarter. Banco Santander S.A. increased its position in shares of MercadoLibre by 221.9% during the 1st quarter. Banco Santander S.A. now owns 2,746 shares of the company’s stock valued at $5,357,000 after purchasing an additional 1,893 shares during the last quarter. Stratos Investment Management LLC purchased a new stake in shares of MercadoLibre during the 1st quarter valued at $203,000. Costello Asset Management INC increased its position in shares of MercadoLibre by 434.3% during the 2nd quarter. Costello Asset Management INC now owns 577 shares of the company’s stock valued at $1,509,000 after purchasing an additional 469 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its position in shares of MercadoLibre by 8.5% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,257 shares of the company’s stock valued at $5,899,000 after purchasing an additional 177 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Down 5.1%

Shares of NASDAQ MELI opened at $2,048.35 on Thursday. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22. The business has a 50-day simple moving average of $2,348.72 and a two-hundred day simple moving average of $2,345.35. 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 company has a market cap of $103.85 billion, a P/E ratio of 50.59, a P/E/G ratio of 1.46 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing the consensus estimate of $12.01 by ($1.70). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The company had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.57 billion. During the same quarter in the prior year, the business earned $10.48 EPS. The firm’s revenue for the quarter was up 33.8% compared to the same quarter last year. Research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on MELI shares. Scotiabank started coverage on MercadoLibre in a research report on Monday, July 28th. They set a “sector outperform” rating and a $3,500.00 target price for the company. Susquehanna decreased their price objective on MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating for the company in a report on Monday. Raymond James Financial reissued a “strong-buy” rating and issued a $2,750.00 price objective on shares of MercadoLibre in a report on Tuesday, August 5th. Benchmark reissued a “buy” rating and issued a $2,875.00 price objective on shares of MercadoLibre in a report on Tuesday, August 5th. Finally, JPMorgan Chase & Co. decreased their price objective on MercadoLibre from $2,700.00 to $2,600.00 and set a “neutral” rating for the company in a report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and a consensus price target of $2,810.88.

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.