Northcape Capital Pty Ltd Acquires 36,862 Shares of MercadoLibre, Inc. $MELI

Northcape Capital Pty Ltd raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 46.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 116,848 shares of the company’s stock after purchasing an additional 36,862 shares during the period. MercadoLibre comprises about 26.8% of Northcape Capital Pty Ltd’s holdings, making the stock its largest holding. Northcape Capital Pty Ltd’s holdings in MercadoLibre were worth $238,370,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Lavaca Capital LLC lifted its stake in shares of MercadoLibre by 140,201.3% in the 2nd quarter. Lavaca Capital LLC now owns 1,066,290 shares of the company’s stock valued at $2,786,888,000 after purchasing an additional 1,065,530 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of MercadoLibre by 803.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 333,455 shares of the company’s stock worth $671,665,000 after purchasing an additional 296,543 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of MercadoLibre by 304.7% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 255,103 shares of the company’s stock worth $666,744,000 after purchasing an additional 192,071 shares during the period. Flossbach Von Storch SE grew its stake in shares of MercadoLibre by 1,669.4% during the third quarter. Flossbach Von Storch SE now owns 181,719 shares of the company’s stock worth $424,666,000 after purchasing an additional 171,449 shares during the period. Finally, Wellington Management Group LLP increased its holdings in MercadoLibre by 28.4% in the third quarter. Wellington Management Group LLP now owns 493,770 shares of the company’s stock valued at $1,153,911,000 after purchasing an additional 109,228 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Price Performance

Shares of MELI stock opened at $1,715.52 on Monday. MercadoLibre, Inc. has a 12-month low of $1,593.21 and a 12-month high of $2,645.22. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.68. The firm has a fifty day moving average of $1,861.92 and a 200-day moving average of $2,039.18. The company has a market capitalization of $86.98 billion, a price-to-earnings ratio of 43.54, a P/E/G ratio of 0.90 and a beta of 1.49.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $11.03 EPS for the quarter, missing the consensus estimate of $11.66 by ($0.63). The company had revenue of $8.76 billion during the quarter, compared to the consensus estimate of $8.45 billion. MercadoLibre had a net margin of 6.91% and a return on equity of 33.73%. The company’s revenue was up 44.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $12.61 earnings per share. As a group, equities research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on MELI. Morgan Stanley cut their target price on MercadoLibre from $2,800.00 to $2,600.00 and set an “overweight” rating on the stock in a research note on Monday, March 9th. UBS Group lowered their price target on MercadoLibre from $2,900.00 to $2,700.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Itau BBA Securities reiterated an “outperform” rating on shares of MercadoLibre in a research report on Wednesday, February 25th. JPMorgan Chase & Co. lowered shares of MercadoLibre from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $2,650.00 to $2,100.00 in a research note on Thursday, March 12th. Finally, BTIG Research decreased their price objective on shares of MercadoLibre from $2,650.00 to $2,400.00 and set a “buy” rating for the company in a report on Friday, March 20th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $2,708.67.

MercadoLibre Company Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.