Freemont Management S.A. Makes New Investment in MercadoLibre, Inc. $MELI

Freemont Management S.A. bought a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,600 shares of the company’s stock, valued at approximately $4,182,000.

Several other institutional investors and hedge funds also recently made changes to their positions in MELI. Key Financial Inc bought a new stake in MercadoLibre in the 1st quarter valued at about $25,000. GW&K Investment Management LLC purchased a new position in shares of MercadoLibre in the first quarter worth about $25,000. Close Asset Management Ltd increased its stake in shares of MercadoLibre by 366.7% in 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 in the last quarter. Highline Wealth Partners LLC raised its position in shares of MercadoLibre by 366.7% in the second quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock valued at $37,000 after purchasing an additional 11 shares during the period. Finally, Brooklyn Investment Group lifted its stake in shares of MercadoLibre by 650.0% during the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock valued at $29,000 after buying an additional 13 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $2,108.60 on Friday. The stock has a market cap of $106.90 billion, a P/E ratio of 51.45, a PEG ratio of 1.56 and a beta of 1.51. 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 business’s 50-day moving average price is $2,290.36 and its two-hundred day moving average price is $2,375.77. MercadoLibre, Inc. has a twelve month low of $1,646.00 and a twelve month high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $8.32 earnings per share for the quarter, missing the consensus estimate of $9.88 by ($1.56). MercadoLibre had a return on equity of 41.35% and a net margin of 7.93%.The company had revenue of $7.41 billion during the quarter, compared to the consensus estimate of $7.19 billion. During the same quarter last year, the company posted $7.83 earnings per share. The firm’s revenue for the quarter was up 39.5% on a year-over-year basis. As a group, equities analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MELI has been the subject of a number of recent research reports. Wedbush lifted their price objective on shares of MercadoLibre from $2,700.00 to $2,800.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Cantor Fitzgerald reduced their price target on MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Susquehanna decreased their price objective on MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a research note on Monday, October 13th. JPMorgan Chase & Co. raised their target price on MercadoLibre from $2,600.00 to $2,650.00 and gave the stock a “neutral” rating in a research note on Monday, November 3rd. Finally, Citigroup reduced their target price on MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating for the company in a report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $2,861.25.

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.