Glaxis Capital Management LLC Purchases New Shares in MercadoLibre, Inc. $MELI

Glaxis Capital Management LLC bought a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 500 shares of the company’s stock, valued at approximately $1,307,000. MercadoLibre makes up 1.7% of Glaxis Capital Management LLC’s holdings, making the stock its 19th largest position.

Several other institutional investors also recently modified their holdings of MELI. Bison Wealth LLC purchased a new position in MercadoLibre during the 4th quarter valued at about $206,000. CWM LLC lifted its holdings in shares of MercadoLibre by 10.7% during the first quarter. CWM LLC now owns 913 shares of the company’s stock valued at $1,781,000 after purchasing an additional 88 shares during the last quarter. Signaturefd LLC boosted its position in shares of MercadoLibre by 24.2% in the 1st quarter. Signaturefd LLC now owns 257 shares of the company’s stock worth $502,000 after purchasing an additional 50 shares in the last quarter. Larson Financial Group LLC grew its stake in shares of MercadoLibre by 1,887.5% in the 1st quarter. Larson Financial Group LLC now owns 159 shares of the company’s stock worth $310,000 after buying an additional 151 shares during the last quarter. Finally, Bridgewater Advisors Inc. purchased a new stake in shares of MercadoLibre in the 1st quarter worth approximately $199,000. 87.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Susquehanna cut their target price 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. Scotiabank began coverage on shares of MercadoLibre in a research report on Monday, July 28th. They set a “sector outperform” rating and a $3,500.00 price objective on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of MercadoLibre in a report on Friday, October 31st. Raymond James Financial reiterated a “strong-buy” rating and issued a $2,750.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. Finally, BTIG Research reissued a “buy” rating and set a $2,750.00 price target on shares of MercadoLibre in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $2,854.71.

MercadoLibre Stock Performance

Shares of MELI stock opened at $2,048.89 on Friday. 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 50 day moving average price of $2,256.65 and a 200-day moving average price of $2,372.07. 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 $103.87 billion, a PE ratio of 50.00, a P/E/G ratio of 1.56 and a beta of 1.51.

MercadoLibre (NASDAQ:MELI) last announced 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%. MercadoLibre’s quarterly revenue was up 39.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $7.83 earnings per share. As a group, equities research analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current 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.