Deepwater Asset Management LLC Purchases 1,188 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Deepwater Asset Management LLC grew its position in MercadoLibre, Inc. (NASDAQ:MELI) by 14.5% in the first quarter, HoldingsChannel reports. The institutional investor owned 9,409 shares of the company’s stock after acquiring an additional 1,188 shares during the period. MercadoLibre makes up 5.4% of Deepwater Asset Management LLC’s portfolio, making the stock its 9th biggest holding. Deepwater Asset Management LLC’s holdings in MercadoLibre were worth $14,226,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Townsquare Capital LLC grew its stake in shares of MercadoLibre by 0.9% in the third quarter. Townsquare Capital LLC now owns 1,549 shares of the company’s stock worth $1,964,000 after acquiring an additional 14 shares in the last quarter. Vestor Capital LLC grew its stake in MercadoLibre by 10.0% during the 4th quarter. Vestor Capital LLC now owns 88 shares of the company’s stock worth $138,000 after purchasing an additional 8 shares in the last quarter. Vanguard Group Inc. grew its stake in MercadoLibre by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 178,815 shares of the company’s stock worth $226,716,000 after purchasing an additional 4,065 shares in the last quarter. Gulf International Bank UK Ltd increased its holdings in MercadoLibre by 33.4% during the 1st quarter. Gulf International Bank UK Ltd now owns 4,960 shares of the company’s stock worth $7,499,000 after purchasing an additional 1,241 shares during the period. Finally, International Assets Investment Management LLC raised its position in MercadoLibre by 112,333.8% in the 4th quarter. International Assets Investment Management LLC now owns 146,164 shares of the company’s stock valued at $229,703,000 after purchasing an additional 146,034 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

NASDAQ:MELI traded up $2.15 during midday trading on Tuesday, reaching $1,599.75. The stock had a trading volume of 104,285 shares, compared to its average volume of 374,608. The stock has a market cap of $81.11 billion, a P/E ratio of 70.96, a P/E/G ratio of 1.20 and a beta of 1.60. The company has a quick ratio of 1.25, a current ratio of 1.27 and a debt-to-equity ratio of 0.66. MercadoLibre, Inc. has a 12-month low of $1,063.02 and a 12-month high of $1,825.00. The firm has a fifty day simple moving average of $1,616.76 and a two-hundred day simple moving average of $1,607.24.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, May 2nd. The company reported $6.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.64 by $0.14. The company had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $3.84 billion. MercadoLibre had a return on equity of 39.46% and a net margin of 7.17%. The firm’s quarterly revenue was up 36.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.97 EPS. On average, equities analysts expect that MercadoLibre, Inc. will post 33.81 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MELI. Citigroup reduced their target price on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating on the stock in a report on Wednesday, March 27th. DZ Bank raised MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 target price on the stock in a report on Tuesday, April 23rd. Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and lifted their price target for the stock from $1,400.00 to $2,100.00 in a report on Monday, May 20th. New Street Research lowered MercadoLibre from a “buy” rating to a “neutral” rating in a research report on Friday, May 24th. Finally, Wedbush reissued an “outperform” rating and set a $1,800.00 price objective on shares of MercadoLibre in a report on Friday, May 3rd. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, MercadoLibre presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,881.92.

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.