MercadoLibre, Inc. (NASDAQ:MELI) Shares Acquired by iA Global Asset Management Inc.

iA Global Asset Management Inc. raised its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 5.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,971 shares of the company’s stock after buying an additional 324 shares during the period. iA Global Asset Management Inc.’s holdings in MercadoLibre were worth $9,813,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. O Dell Group LLC lifted its holdings in shares of MercadoLibre by 2.1% during the first quarter. O Dell Group LLC now owns 294 shares of the company’s stock valued at $445,000 after purchasing an additional 6 shares during the last quarter. Wealthspire Advisors LLC boosted its holdings in shares of MercadoLibre by 1.8% in the fourth quarter. Wealthspire Advisors LLC now owns 391 shares of the company’s stock worth $614,000 after buying an additional 7 shares during the period. Independent Advisor Alliance increased its position in shares of MercadoLibre by 1.2% in the fourth quarter. Independent Advisor Alliance now owns 586 shares of the company’s stock worth $921,000 after acquiring an additional 7 shares in the last quarter. Hilltop National Bank raised its holdings in shares of MercadoLibre by 14.3% during the second quarter. Hilltop National Bank now owns 56 shares of the company’s stock valued at $92,000 after acquiring an additional 7 shares during the period. Finally, Contravisory Investment Management Inc. lifted its position in shares of MercadoLibre by 5.1% in the 2nd quarter. Contravisory Investment Management Inc. now owns 143 shares of the company’s stock valued at $235,000 after acquiring an additional 7 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MELI. The Goldman Sachs Group boosted their target price on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. New Street Research lowered MercadoLibre from a “buy” rating to a “neutral” rating in a research report on Friday, May 24th. StockNews.com lowered MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Dbs Bank upgraded MercadoLibre from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 11th. Finally, Barclays lifted their target price on shares of MercadoLibre from $2,000.00 to $2,100.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, MercadoLibre presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,067.92.

MercadoLibre Trading Up 2.3 %

Shares of MELI stock opened at $2,061.66 on Friday. The firm has a market capitalization of $104.52 billion, a P/E ratio of 92.24, a price-to-earnings-growth ratio of 1.13 and a beta of 1.60. MercadoLibre, Inc. has a 1 year low of $1,141.04 and a 1 year high of $2,064.76. The firm’s fifty day simple moving average is $1,768.02 and its 200 day simple moving average is $1,648.77. The company has a current ratio of 1.27, a quick ratio of 1.25 and a debt-to-equity ratio of 0.66.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.53 by $1.95. The firm had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.64 billion. MercadoLibre had a return on equity of 45.61% and a net margin of 8.03%. The company’s quarterly revenue was up 41.5% compared to the same quarter last year. During the same period in the previous year, the company posted $5.16 earnings per share. As a group, sell-side analysts predict that MercadoLibre, Inc. will post 33.4 EPS for the current year.

MercadoLibre 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.