MIG Capital LLC Purchases 611 Shares of MercadoLibre, Inc. $MELI

MIG Capital LLC increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 161.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 989 shares of the company’s stock after buying an additional 611 shares during the period. MIG Capital LLC’s holdings in MercadoLibre were worth $2,585,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MELI. Brooklyn Investment Group boosted its holdings in 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 acquiring an additional 13 shares during the period. Twin Tree Management LP bought a new position in shares of MercadoLibre in the first quarter worth about $29,000. Saudi Central Bank acquired a new position in shares of MercadoLibre during the 1st quarter worth about $35,000. McIlrath & Eck LLC boosted its stake in MercadoLibre by 375.0% during the 1st quarter. McIlrath & Eck LLC now owns 19 shares of the company’s stock valued at $37,000 after purchasing an additional 15 shares during the period. Finally, Highline Wealth Partners LLC grew its holdings in MercadoLibre by 366.7% in the 2nd quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock valued at $37,000 after buying an additional 11 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Price Performance

NASDAQ:MELI opened at $2,055.00 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. The company has a 50-day moving average of $2,209.38 and a 200-day moving average of $2,358.43. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22. The company has a market capitalization of $104.18 billion, a price-to-earnings ratio of 50.15, 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 earnings per share for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). MercadoLibre had a net margin of 7.93% and a return on equity of 41.35%. The company had revenue of $7.41 billion for the quarter, compared to analyst estimates of $7.19 billion. During the same period in the previous year, the firm posted $7.83 earnings per share. The firm’s revenue for the quarter was up 39.5% compared to the same quarter last year. As a group, equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on MELI. Daiwa Capital Markets started coverage on MercadoLibre in a research report on Friday, August 1st. They issued a “buy” rating and a $3,000.00 price target on the stock. Jefferies Financial Group reaffirmed a “hold” rating and set a $2,800.00 target price on shares of MercadoLibre in a research report on Tuesday, August 5th. Cantor Fitzgerald cut their target price on shares of MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating for the company in a research note on Thursday, October 30th. Raymond James Financial reissued a “strong-buy” rating and issued a $2,750.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Finally, Barclays boosted their price objective on shares of MercadoLibre from $2,800.00 to $2,900.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, MercadoLibre presently has an average rating of “Moderate Buy” and a consensus price target of $2,848.82.

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.