Alkeon Capital Management LLC Boosts Position in MercadoLibre, Inc. $MELI

Alkeon Capital Management LLC raised its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 15.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 220,499 shares of the company’s stock after acquiring an additional 29,866 shares during the period. MercadoLibre makes up 0.9% of Alkeon Capital Management LLC’s investment portfolio, making the stock its 15th largest position. Alkeon Capital Management LLC’s holdings in MercadoLibre were worth $430,165,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MELI. Key Financial Inc purchased a new position in shares of MercadoLibre during the first quarter worth about $25,000. GW&K Investment Management LLC purchased a new position in MercadoLibre during the 1st quarter worth approximately $25,000. Close Asset Management Ltd increased its position in MercadoLibre by 366.7% during the first quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock worth $27,000 after buying an additional 11 shares during the period. Park Square Financial Group LLC purchased a new stake in MercadoLibre in the fourth quarter valued at approximately $26,000. Finally, Brooklyn Investment Group boosted its holdings in shares of MercadoLibre by 650.0% in the first quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock valued at $29,000 after acquiring an additional 13 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Wall Street Zen cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Sunday, June 22nd. Jefferies Financial Group reaffirmed a “hold” rating and issued a $2,800.00 target price on shares of MercadoLibre in a report on Tuesday, August 5th. UBS Group set a $3,000.00 price target on MercadoLibre in a report on Monday, June 2nd. Scotiabank assumed coverage on MercadoLibre in a research note on Monday, July 28th. They set a “sector outperform” rating and a $3,500.00 price objective for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $2,700.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, MercadoLibre has an average rating of “Moderate Buy” and a consensus price target of $2,817.22.

MercadoLibre Trading Up 0.0%

NASDAQ:MELI opened at $2,472.91 on Tuesday. MercadoLibre, Inc. has a 1 year low of $1,646.00 and a 1 year high of $2,645.22. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. The stock has a fifty day moving average price of $2,414.10 and a two-hundred day moving average price of $2,294.36. The stock has a market capitalization of $125.38 billion, a price-to-earnings ratio of 61.07, a PEG ratio of 1.61 and a beta of 1.49.

MercadoLibre (NASDAQ:MELI) last issued its 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 company had revenue of $6.79 billion for the quarter, compared to analysts’ expectations of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.MercadoLibre’s revenue for the quarter was up 33.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $10.48 earnings per share. As a group, sell-side analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal 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.