911 Shares in MercadoLibre, Inc. $MELI Purchased by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. purchased a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 911 shares of the company’s stock, valued at approximately $1,545,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MELI. BlackRock Inc. bought a new stake in MercadoLibre in the second quarter worth about $2,246,015,000. Capital Research Global Investors grew its stake in shares of MercadoLibre by 22.5% during the fourth quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock valued at $4,481,812,000 after buying an additional 408,939 shares during the last quarter. Norges Bank purchased a new stake in shares of MercadoLibre in the fourth quarter worth approximately $597,045,000. Royal Bank of Canada raised its holdings in shares of MercadoLibre by 114.2% in the first quarter. Royal Bank of Canada now owns 444,603 shares of the company’s stock worth $768,728,000 after buying an additional 237,008 shares during the period. Finally, Marshall Wace LLP lifted its stake in shares of MercadoLibre by 184.8% during the 4th quarter. Marshall Wace LLP now owns 311,818 shares of the company’s stock worth $628,083,000 after acquiring an additional 202,322 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Up 7.3%

Shares of NASDAQ MELI opened at $1,908.65 on Thursday. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,548.50. The firm has a market capitalization of $96.77 billion, a price-to-earnings ratio of 51.91, a PEG ratio of 1.22 and a beta of 1.34. The stock has a 50 day moving average price of $1,780.15 and a 200 day moving average price of $1,776.50. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Wednesday, August 5th. The company reported $9.19 EPS for the quarter, topping the consensus estimate of $8.65 by $0.54. The company had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.79 billion. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.MercadoLibre’s quarterly revenue was up 49.8% on a year-over-year basis. During the same period last year, the business posted $10.31 EPS. Sell-side analysts expect that MercadoLibre, Inc. will post 39.11 earnings per share for the current year.

Insider Activity

In other news, Director Alejandro Nicolas Aguzin purchased 600 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were acquired at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the transaction, the director owned 5,355 shares of the company’s stock, valued at $8,867,505.15. This represents a 12.62% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Benchmark dropped their price objective on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating for the company in a report on Friday, May 8th. Barclays reduced their target price on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. Raymond James Financial set a $2,000.00 target price on MercadoLibre in a research report on Friday, May 8th. UBS Group lowered their target price on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of MercadoLibre in a report on Thursday, July 2nd. Eleven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $2,272.00.

MercadoLibre Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.