First Trust Advisors LP Grows Position in MercadoLibre, Inc. $MELI

First Trust Advisors LP raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 59.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,015 shares of the company’s stock after acquiring an additional 6,685 shares during the quarter. First Trust Advisors LP’s holdings in MercadoLibre were worth $47,085,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in MELI. Highline Wealth Partners LLC grew its position in MercadoLibre by 366.7% during the second quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock worth $37,000 after buying an additional 11 shares during the period. Brooklyn Investment Group increased its stake in MercadoLibre by 650.0% in the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock valued at $29,000 after purchasing an additional 13 shares in the last quarter. Twin Tree Management LP acquired a new position in MercadoLibre during the first quarter worth $29,000. Curio Wealth LLC boosted its position in MercadoLibre by 1,400.0% during the second quarter. Curio Wealth LLC now owns 15 shares of the company’s stock worth $39,000 after purchasing an additional 14 shares in the last quarter. Finally, Stone House Investment Management LLC acquired a new stake in MercadoLibre in the second quarter valued at $39,000. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Stock Performance

NASDAQ MELI opened at $2,088.36 on Tuesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.17 and a quick ratio of 1.15. MercadoLibre, Inc. has a 1-year low of $1,646.00 and a 1-year high of $2,645.22. The firm has a market capitalization of $105.88 billion, a P/E ratio of 50.96, a P/E/G ratio of 1.48 and a beta of 1.42. The business’s 50-day simple moving average is $2,138.19 and its 200-day simple moving average is $2,327.61.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share (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 company had revenue of $7.41 billion during the quarter, compared to analyst estimates of $7.19 billion. During the same quarter in the prior year, the company posted $7.83 earnings per share. The firm’s revenue for the quarter was up 39.5% on a year-over-year basis. Equities analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of MercadoLibre in a research note on Friday, October 31st. Benchmark cut their target price on shares of MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. Barclays increased their price target on shares of MercadoLibre from $2,800.00 to $2,900.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. JPMorgan Chase & Co. raised their price objective on shares of MercadoLibre from $2,600.00 to $2,650.00 and gave the stock a “neutral” rating in a research note on Monday, November 3rd. Finally, UBS Group reduced their target price on MercadoLibre from $3,000.00 to $2,900.00 and set a “buy” rating on the stock in a research note on Monday, November 24th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,848.82.

MercadoLibre Company 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.