Longitude Cayman Ltd. Makes New $329,000 Investment in MercadoLibre, Inc. (NASDAQ:MELI)

Longitude Cayman Ltd. acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 200 shares of the company’s stock, valued at approximately $329,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vestor Capital LLC lifted its stake in MercadoLibre by 10.0% during the fourth quarter. Vestor Capital LLC now owns 88 shares of the company’s stock valued at $138,000 after purchasing an additional 8 shares during the last quarter. Raymond James & Associates lifted its stake in MercadoLibre by 4.8% during the second quarter. Raymond James & Associates now owns 34,840 shares of the company’s stock valued at $57,256,000 after purchasing an additional 1,604 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in MercadoLibre by 20.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,642 shares of the company’s stock valued at $41,794,000 after purchasing an additional 4,658 shares during the last quarter. Gulf International Bank UK Ltd lifted its stake in MercadoLibre by 33.4% during the first quarter. Gulf International Bank UK Ltd now owns 4,960 shares of the company’s stock valued at $7,499,000 after purchasing an additional 1,241 shares during the last quarter. Finally, Sarasin & Partners LLP lifted its position in shares of MercadoLibre by 168.5% in the 2nd quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock valued at $74,622,000 after acquiring an additional 28,494 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Stock Down 0.9 %

Shares of MELI traded down $18.63 during mid-day trading on Thursday, hitting $1,988.83. 191,463 shares of the company’s stock were exchanged, compared to its average volume of 367,402. The firm has a fifty day moving average of $1,724.45 and a two-hundred day moving average of $1,639.20. MercadoLibre, Inc. has a twelve month low of $1,141.04 and a twelve month high of $2,029.99. The stock has a market cap of $100.83 billion, a price-to-earnings ratio of 88.99, a P/E/G ratio of 1.13 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 (NASDAQ:MELI) last announced its quarterly 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 45.61%. The company had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same quarter in the prior year, the business posted $5.16 EPS. MercadoLibre’s quarterly revenue was up 41.5% on a year-over-year basis. On average, sell-side analysts forecast that MercadoLibre, Inc. will post 33.4 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on MELI shares. Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 11th. Citigroup upped their price target on shares of MercadoLibre from $2,000.00 to $2,200.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. StockNews.com downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. The Goldman Sachs Group upped their price target on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Finally, Wedbush restated an “outperform” rating and issued a $1,800.00 price target on shares of MercadoLibre in a research report on Friday, May 3rd. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and an average target price of $2,063.75.

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.