Dnca Finance Grows Stake in MercadoLibre, Inc. $MELI

Dnca Finance grew its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 26.0% in the 2nd quarter, Holdings Channel.com reports. The fund owned 6,687 shares of the company’s stock after acquiring an additional 1,378 shares during the period. MercadoLibre comprises about 1.3% of Dnca Finance’s holdings, making the stock its 24th largest position. Dnca Finance’s holdings in MercadoLibre were worth $17,477,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Jennison Associates LLC increased its stake in MercadoLibre by 7.0% during the 2nd quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock valued at $3,228,460,000 after purchasing an additional 81,124 shares in the last quarter. Invesco Ltd. increased its position in shares of MercadoLibre by 22.4% during the first quarter. Invesco Ltd. now owns 570,967 shares of the company’s stock valued at $1,113,881,000 after acquiring an additional 104,554 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in MercadoLibre by 21.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company’s stock worth $1,073,823,000 after acquiring an additional 96,283 shares during the last quarter. Generation Investment Management LLP raised its holdings in MercadoLibre by 3.3% in the 1st quarter. Generation Investment Management LLP now owns 530,564 shares of the company’s stock worth $1,035,061,000 after acquiring an additional 16,878 shares during the last quarter. Finally, Schroder Investment Management Group lifted its position in MercadoLibre by 16.6% in the 2nd quarter. Schroder Investment Management Group now owns 521,833 shares of the company’s stock valued at $1,363,878,000 after acquiring an additional 74,201 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on MELI shares. JPMorgan Chase & Co. lifted their target price on MercadoLibre from $2,600.00 to $2,650.00 and gave the stock a “neutral” rating in a report on Monday, November 3rd. Cantor Fitzgerald decreased their target price on MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, December 2nd. Citigroup dropped their price target on shares of MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating on the stock in a report on Thursday, October 9th. Finally, Benchmark decreased their price objective on shares of MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating for the company in a report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $2,848.82.

MercadoLibre Stock Down 3.4%

MELI stock opened at $2,066.42 on Friday. The company has a market cap of $104.77 billion, a price-to-earnings ratio of 50.43, a P/E/G ratio of 1.48 and a beta of 1.42. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.15 and a current ratio of 1.17. The business’s 50-day moving average is $2,146.45 and its two-hundred day moving average is $2,333.15. MercadoLibre, Inc. has a fifty-two week low of $1,646.00 and a fifty-two week high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Wednesday, October 29th. The company reported $8.32 EPS for the quarter, missing the consensus estimate of $9.88 by ($1.56). MercadoLibre had a net margin of 7.93% and a return on equity of 39.03%. The business had revenue of $7.41 billion for the quarter, compared to analysts’ expectations of $7.19 billion. During the same period in the previous year, the company earned $7.83 EPS. MercadoLibre’s revenue for the quarter was up 39.5% compared to the same quarter last year. As a group, analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share 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.