Triasima Portfolio Management inc. Has $8.36 Million Position in MercadoLibre, Inc. $MELI

Triasima Portfolio Management inc. lifted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 9.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,200 shares of the company’s stock after purchasing an additional 275 shares during the quarter. MercadoLibre accounts for about 1.5% of Triasima Portfolio Management inc.’s portfolio, making the stock its 19th biggest position. Triasima Portfolio Management inc.’s holdings in MercadoLibre were worth $8,364,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Key Financial Inc acquired a new stake in shares of MercadoLibre during the first quarter worth about $25,000. GW&K Investment Management LLC acquired a new stake in shares of MercadoLibre during the first quarter worth about $25,000. Close Asset Management Ltd raised its position in shares of 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 purchasing an additional 11 shares during the period. Highline Wealth Partners LLC raised its position in shares of MercadoLibre by 366.7% during the second quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock worth $37,000 after purchasing an additional 11 shares during the period. Finally, Brooklyn Investment Group raised its position in shares of MercadoLibre by 650.0% during the first quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock worth $29,000 after purchasing an additional 13 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Up 1.5%

NASDAQ:MELI opened at $2,187.57 on Wednesday. The firm has a market capitalization of $110.91 billion, a price-to-earnings ratio of 54.03, a price-to-earnings-growth ratio of 1.43 and a beta of 1.46. MercadoLibre, Inc. has a twelve month low of $1,646.00 and a twelve month high of $2,645.22. The stock’s 50 day moving average price is $2,374.35 and its two-hundred day moving average price is $2,344.79. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results 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 company 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 firm’s revenue for the quarter was up 33.8% compared to the same quarter last year. During the same period last year, the firm earned $10.48 EPS. Equities research analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on MELI shares. JPMorgan Chase & Co. dropped their price target on MercadoLibre from $2,700.00 to $2,600.00 and set a “neutral” rating on the stock in a research report on Friday, October 3rd. Jefferies Financial Group reissued a “hold” rating and issued a $2,800.00 target price on shares of MercadoLibre in a research report on Tuesday, August 5th. Scotiabank started coverage on MercadoLibre in a research report on Monday, July 28th. They issued a “sector outperform” rating and a $3,500.00 target price on the stock. Benchmark reissued a “buy” rating and issued a $2,875.00 target price on shares of MercadoLibre in a research report on Tuesday, August 5th. Finally, Wedbush set a $2,700.00 target price on MercadoLibre and gave the company an “outperform” rating in a research report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $2,822.78.

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.