Russell Investments Group Ltd. Has $155.91 Million Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Russell Investments Group Ltd. boosted its position in MercadoLibre, Inc. (NASDAQ:MELI) by 4.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 79,641 shares of the company’s stock after buying an additional 3,295 shares during the quarter. Russell Investments Group Ltd.’s holdings in MercadoLibre were worth $155,914,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank Pictet & Cie Europe AG bought a new stake in MercadoLibre in the 4th quarter valued at $561,000. Scotia Capital Inc. boosted its holdings in MercadoLibre by 124.6% in the 4th quarter. Scotia Capital Inc. now owns 584 shares of the company’s stock valued at $993,000 after purchasing an additional 324 shares during the period. Treasurer of the State of North Carolina boosted its holdings in MercadoLibre by 139.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 599 shares of the company’s stock valued at $1,019,000 after purchasing an additional 349 shares during the period. Covestor Ltd bought a new stake in MercadoLibre in the 4th quarter valued at $27,000. Finally, Townsquare Capital LLC lifted its holdings in shares of MercadoLibre by 65.9% during the 4th quarter. Townsquare Capital LLC now owns 2,957 shares of the company’s stock worth $5,028,000 after acquiring an additional 1,175 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Trading Down 2.6%

Shares of NASDAQ:MELI opened at $2,292.04 on Tuesday. The company’s 50-day moving average price is $2,431.57 and its two-hundred day moving average price is $2,250.90. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. MercadoLibre, Inc. has a one year low of $1,646.00 and a one year high of $2,645.22. The stock has a market capitalization of $116.21 billion, a PE ratio of 56.61, a price-to-earnings-growth ratio of 1.47 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing the consensus estimate of $12.01 by ($1.70). The business had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%. The company’s quarterly revenue was up 33.8% compared to the same quarter last year. During the same period last year, the firm earned $10.48 earnings per share. On average, equities analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MELI. Scotiabank began coverage on shares of MercadoLibre in a report on Monday, July 28th. They set a “sector outperform” rating and a $3,500.00 price objective for the company. Susquehanna reiterated a “positive” rating and set a $2,975.00 target price (up previously from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. The Goldman Sachs Group raised their price objective on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the company a “buy” rating in a research report on Wednesday, May 14th. Raymond James Financial restated a “strong-buy” rating and issued a $2,750.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 5th. Finally, Benchmark restated a “buy” rating and issued a $2,875.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 5th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, MercadoLibre presently has an average rating of “Moderate Buy” and a consensus target price of $2,795.00.

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.