Silvant Capital Management LLC Has $27.55 Million Stake in MercadoLibre, Inc. $MELI

Silvant Capital Management LLC raised its position in MercadoLibre, Inc. (NASDAQ:MELI) by 0.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,540 shares of the company’s stock after purchasing an additional 73 shares during the quarter. MercadoLibre accounts for approximately 1.0% of Silvant Capital Management LLC’s holdings, making the stock its 18th largest holding. Silvant Capital Management LLC’s holdings in MercadoLibre were worth $27,548,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the business. Jennison Associates LLC lifted its position in 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 buying an additional 81,124 shares in the last quarter. Invesco Ltd. raised its holdings in 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 acquiring an additional 104,554 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in MercadoLibre by 21.2% during 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 worth $1,073,823,000 after acquiring an additional 96,283 shares in the last quarter. Generation Investment Management LLP boosted its position in MercadoLibre by 3.3% during 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 last quarter. Finally, GQG Partners LLC increased its position in shares of MercadoLibre by 23.5% during the 1st quarter. GQG Partners LLC now owns 461,875 shares of the company’s stock worth $901,058,000 after purchasing an additional 87,912 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Raymond James Financial reissued a “strong-buy” rating and issued a $2,750.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. Barclays lifted their price objective on shares of MercadoLibre from $2,800.00 to $2,900.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Wedbush upped their target price on shares of MercadoLibre from $2,700.00 to $2,800.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. UBS Group dropped their price objective on MercadoLibre from $3,000.00 to $2,900.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Cantor Fitzgerald cut their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average target price of $2,848.82.

MercadoLibre Stock Down 1.1%

MELI stock opened at $2,033.32 on Friday. 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 cap of $103.08 billion, a PE ratio of 49.62, a price-to-earnings-growth 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 has a 50-day simple moving average of $2,192.26 and a 200 day simple moving average of $2,353.92.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share (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 during the quarter, compared to the consensus estimate of $7.19 billion. During the same quarter in the previous year, the business posted $7.83 EPS. The company’s revenue for the quarter was up 39.5% on a year-over-year basis. Sell-side analysts anticipate 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.