E Fund Management Hong Kong Co. Ltd. Increases Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

E Fund Management Hong Kong Co. Ltd. lifted its position in MercadoLibre, Inc. (NASDAQ:MELI) by 4,100.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42 shares of the company’s stock after buying an additional 41 shares during the quarter. E Fund Management Hong Kong Co. Ltd.’s holdings in MercadoLibre were worth $86,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of MELI. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of MercadoLibre by 1,600.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after buying an additional 16 shares in the last quarter. Optimum Investment Advisors raised its stake in MercadoLibre by 750.0% in the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after purchasing an additional 15 shares in the last quarter. Financial Connections Group Inc. purchased a new stake in MercadoLibre in the second quarter valued at approximately $36,000. Quarry LP purchased a new stake in MercadoLibre in the second quarter valued at approximately $43,000. Finally, NBC Securities Inc. raised its stake in MercadoLibre by 35.0% in the third quarter. NBC Securities Inc. now owns 27 shares of the company’s stock valued at $55,000 after purchasing an additional 7 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Down 0.3 %

Shares of NASDAQ MELI opened at $2,020.72 on Thursday. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. MercadoLibre, Inc. has a 52 week low of $1,205.80 and a 52 week high of $2,161.73. The firm’s fifty day moving average is $2,048.32 and its 200 day moving average is $1,795.41. The company has a market cap of $102.44 billion, a price-to-earnings ratio of 90.41, a PEG ratio of 1.26 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, topping the consensus estimate of $8.53 by $1.95. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The company had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same period in the previous year, the firm earned $5.16 earnings per share. The firm’s revenue for the quarter was up 41.5% on a year-over-year basis. On average, equities research analysts expect that MercadoLibre, Inc. will post 37.55 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. BTIG Research raised their target price on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Morgan Stanley raised their target price on shares of MercadoLibre from $2,175.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Raymond James started coverage on shares of MercadoLibre in a research note on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 target price on the stock. JPMorgan Chase & Co. downgraded shares of MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 price target on the stock. in a research note on Wednesday, October 2nd. Finally, Susquehanna boosted their price objective on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a report on Wednesday, August 28th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $2,301.67.

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.