Rafferty Asset Management LLC Acquires 47 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Rafferty Asset Management LLC lifted its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 1.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,560 shares of the company’s stock after buying an additional 47 shares during the period. Rafferty Asset Management LLC’s holdings in MercadoLibre were worth $3,988,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of MELI. Jennison Associates LLC grew its holdings in MercadoLibre by 31.6% during the 1st quarter. Jennison Associates LLC now owns 1,520,310 shares of the company’s stock valued at $2,238,109,000 after purchasing an additional 364,854 shares during the last quarter. Sands Capital Management LLC grew its holdings in MercadoLibre by 6.3% during the 1st quarter. Sands Capital Management LLC now owns 1,149,630 shares of the company’s stock valued at $1,692,416,000 after purchasing an additional 67,864 shares during the last quarter. Lone Pine Capital LLC grew its holdings in MercadoLibre by 19.8% during the 1st quarter. Lone Pine Capital LLC now owns 715,152 shares of the company’s stock valued at $1,052,804,000 after purchasing an additional 118,041 shares during the last quarter. Morgan Stanley grew its holdings in MercadoLibre by 16.8% during the 1st quarter. Morgan Stanley now owns 656,040 shares of the company’s stock valued at $965,783,000 after purchasing an additional 94,431 shares during the last quarter. Finally, Schroder Investment Management Group grew its holdings in MercadoLibre by 0.9% during the 1st quarter. Schroder Investment Management Group now owns 463,361 shares of the company’s stock valued at $682,132,000 after purchasing an additional 3,938 shares during the last quarter. Hedge funds and other institutional investors own 78.21% of the company’s stock.

In other news, Director Henrique Vasoncelos Dubugras bought 845 shares of the firm’s stock in a transaction that occurred on Wednesday, August 18th. The stock was bought at an average price of $1,783.32 per share, with a total value of $1,506,905.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.39% of the company’s stock.

Shares of MELI opened at $1,856.34 on Wednesday. The company has a 50 day moving average price of $1,728.26 and a 200-day moving average price of $1,564.50. MercadoLibre, Inc. has a fifty-two week low of $959.87 and a fifty-two week high of $2,020.00. The stock has a market capitalization of $92.28 billion, a PE ratio of -37,126.80 and a beta of 1.51. The company has a debt-to-equity ratio of 22.07, a quick ratio of 1.14 and a current ratio of 1.18.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Wednesday, August 4th. The company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $0.09 by $1.28. MercadoLibre had a negative net margin of 0.02% and a positive return on equity of 5.55%. The firm had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the prior year, the company earned $1.11 EPS. The company’s revenue was up 93.9% compared to the same quarter last year. Equities research analysts forecast that MercadoLibre, Inc. will post 3.09 EPS for the current year.

MELI has been the topic of several analyst reports. BTIG Research upped their price target on shares of MercadoLibre from $1,720.00 to $1,930.00 and gave the company a “buy” rating in a report on Thursday, August 5th. Zacks Investment Research upgraded shares of MercadoLibre from a “hold” rating to a “strong-buy” rating and set a $2,019.00 target price on the stock in a research note on Tuesday, August 10th. Barclays upped their target price on shares of MercadoLibre from $2,000.00 to $2,100.00 and gave the stock an “overweight” rating in a research note on Thursday, August 5th. upped their target price on shares of MercadoLibre from $2,150.00 to $2,250.00 and gave the stock a “buy” rating in a research note on Monday, June 7th. Finally, Citigroup upped their target price on shares of MercadoLibre from $2,150.00 to $2,250.00 and gave the stock a “buy” rating in a research note on Monday, June 7th. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $1,927.72.

MercadoLibre Profile

MercadoLibre, Inc engages in the provision of online commerce platform with focus on e-commerce and its related services. It operates through the following geographical segments: Brazil, Argentina, Mexico, Venezuela, and Other Countries. The firm provides users a mechanism for buying, selling and paying as well as collecting, generating leads, and comparing lists through e-commerce transactions.

See Also: Market Timing

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Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)

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