GS Investments Inc. Boosts Holdings in MercadoLibre, Inc. $MELI

GS Investments Inc. raised its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 4.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,395 shares of the company’s stock after acquiring an additional 65 shares during the quarter. MercadoLibre makes up 1.6% of GS Investments Inc.’s holdings, making the stock its 25th biggest position. GS Investments Inc.’s holdings in MercadoLibre were worth $3,646,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Ninety One North America Inc. raised its stake in MercadoLibre by 21.5% in the second quarter. Ninety One North America Inc. now owns 6,094 shares of the company’s stock valued at $15,927,000 after purchasing an additional 1,080 shares in the last quarter. Banco Santander S.A. increased its holdings in shares of MercadoLibre by 221.9% in the 1st quarter. Banco Santander S.A. now owns 2,746 shares of the company’s stock worth $5,357,000 after buying an additional 1,893 shares during the last quarter. Resona Asset Management Co. Ltd. raised its position in shares of MercadoLibre by 4.0% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 15,308 shares of the company’s stock valued at $39,900,000 after buying an additional 585 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of MercadoLibre by 7.0% during 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 last quarter. Finally, Costello Asset Management INC lifted its holdings in shares of MercadoLibre by 434.3% during the 2nd quarter. Costello Asset Management INC now owns 577 shares of the company’s stock worth $1,509,000 after acquiring an additional 469 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on MELI shares. Barclays lifted their price target on shares of MercadoLibre from $2,800.00 to $2,900.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Cantor Fitzgerald cut their target price on shares of MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. Raymond James Financial restated a “strong-buy” rating and set a $2,750.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. Morgan Stanley boosted their price objective on shares of MercadoLibre from $2,850.00 to $2,950.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd. Finally, Daiwa Capital Markets started coverage on MercadoLibre in a research note on Friday, August 1st. They issued a “buy” rating and a $3,000.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and an average target price of $2,861.25.

MercadoLibre Stock Down 0.9%

MercadoLibre stock opened at $2,108.60 on Friday. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22. The stock has a fifty day simple moving average of $2,290.36 and a two-hundred day simple moving average of $2,377.50. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. The firm has a market cap of $106.90 billion, a price-to-earnings ratio of 51.45, a PEG ratio of 1.56 and a beta of 1.51.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data 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 net margin of 7.93% and a return on equity of 41.35%. The business had revenue of $7.41 billion for the quarter, compared to analysts’ expectations of $7.19 billion. During the same period last year, the business earned $7.83 earnings per share. The company’s quarterly revenue was up 39.5% on a year-over-year basis. Equities analysts predict that MercadoLibre, Inc. will post 43.96 EPS 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.