MercadoLibre, Inc. $MELI Stake Boosted by Sterling Investment Counsel LLC

Sterling Investment Counsel LLC grew its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 12.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 351 shares of the company’s stock after purchasing an additional 38 shares during the quarter. MercadoLibre makes up 0.5% of Sterling Investment Counsel LLC’s portfolio, making the stock its 28th largest holding. Sterling Investment Counsel LLC’s holdings in MercadoLibre were worth $917,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Key Financial Inc bought a new position in shares of MercadoLibre during the first quarter valued at approximately $25,000. GW&K Investment Management LLC bought a new position in shares of MercadoLibre during the first quarter valued at approximately $25,000. Close Asset Management Ltd grew its holdings in shares of MercadoLibre by 366.7% during the first quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock valued at $27,000 after purchasing an additional 11 shares during the last quarter. Brooklyn Investment Group grew its holdings in shares of MercadoLibre by 650.0% during the first quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock valued at $29,000 after purchasing an additional 13 shares during the last quarter. Finally, Twin Tree Management LP bought a new position in shares of MercadoLibre during the first quarter valued at approximately $29,000. 87.62% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on MELI shares. Cantor Fitzgerald upped their target price on MercadoLibre from $2,700.00 to $2,900.00 and gave the company an “overweight” rating in a report on Wednesday, September 24th. Scotiabank initiated coverage on shares of MercadoLibre in a report on Monday, July 28th. They issued a “sector outperform” rating and a $3,500.00 price objective for the company. JPMorgan Chase & Co. upped their price target on shares of MercadoLibre from $2,600.00 to $2,700.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. Susquehanna restated a “positive” rating and set a $2,975.00 price target (up from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $2,800.00 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 assigned a Hold rating to the company. According to MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and a consensus price target of $2,828.33.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $2,246.60 on Friday. MercadoLibre, Inc. has a 12-month low of $1,646.00 and a 12-month high of $2,645.22. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $113.90 billion, a PE ratio of 55.49, a price-to-earnings-growth ratio of 1.42 and a beta of 1.46. The firm has a 50-day moving average price of $2,386.09 and a 200 day moving average price of $2,340.46.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Monday, August 4th. The company reported $10.31 earnings per share for the quarter, missing the consensus estimate of $12.01 by ($1.70). The firm had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The business’s quarterly revenue was up 33.8% on a year-over-year basis. During the same period in the previous year, the business posted $10.48 EPS. Research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

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.