MercadoLibre, Inc. $MELI Shares Acquired by Aviva PLC

Aviva PLC lifted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 60,036 shares of the company’s stock after acquiring an additional 790 shares during the period. Aviva PLC’s holdings in MercadoLibre were worth $156,912,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Jennison Associates LLC boosted its holdings in MercadoLibre by 7.0% in the 2nd quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock worth $3,228,460,000 after acquiring an additional 81,124 shares during the period. Invesco Ltd. lifted its position in shares of MercadoLibre by 22.4% during the first quarter. Invesco Ltd. now owns 570,967 shares of the company’s stock worth $1,113,881,000 after purchasing an additional 104,554 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of MercadoLibre by 21.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company’s stock valued at $1,073,823,000 after purchasing an additional 96,283 shares during the period. Generation Investment Management LLP boosted its stake in shares of MercadoLibre by 3.3% in the first quarter. Generation Investment Management LLP now owns 530,564 shares of the company’s stock valued at $1,035,061,000 after purchasing an additional 16,878 shares during the period. Finally, GQG Partners LLC grew its holdings in MercadoLibre by 23.5% during the 1st quarter. GQG Partners LLC now owns 461,875 shares of the company’s stock valued at $901,058,000 after purchasing an additional 87,912 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Wedbush boosted their price objective on shares of MercadoLibre from $2,700.00 to $2,800.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. JPMorgan Chase & Co. lifted their target price on MercadoLibre from $2,600.00 to $2,650.00 and gave the stock a “neutral” rating in a research report on Monday, November 3rd. Morgan Stanley increased their price target on MercadoLibre from $2,850.00 to $2,950.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. Jefferies Financial Group restated a “hold” rating and set a $2,800.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. Finally, Barclays upped their target price on MercadoLibre from $2,800.00 to $2,900.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average target price of $2,861.25.

MercadoLibre Trading Down 0.9%

Shares of NASDAQ MELI opened at $2,108.60 on Friday. The stock’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 52-week low of $1,646.00 and a 52-week high of $2,645.22. The stock has a market capitalization 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.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Wednesday, October 29th. The company reported $8.32 EPS 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 firm had revenue of $7.41 billion during the quarter, compared to analyst estimates of $7.19 billion. During the same quarter in the previous year, the business posted $7.83 EPS. MercadoLibre’s revenue was up 39.5% compared to the same quarter last year. On average, analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

About MercadoLibre

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.