IPG Investment Advisors LLC Buys 766 Shares of MercadoLibre, Inc. $MELI

IPG Investment Advisors LLC raised its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 265.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,055 shares of the company’s stock after purchasing an additional 766 shares during the quarter. IPG Investment Advisors LLC’s holdings in MercadoLibre were worth $1,791,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Bienville Capital Management LLC raised its position in MercadoLibre by 50.7% during the second quarter. Bienville Capital Management LLC now owns 32,018 shares of the company’s stock worth $54,347,000 after acquiring an additional 10,774 shares in the last quarter. National Pension Service raised its holdings in shares of MercadoLibre by 6.7% in the 2nd quarter. National Pension Service now owns 116,125 shares of the company’s stock valued at $197,109,000 after purchasing an additional 7,328 shares during the period. WINTON GROUP Ltd grew its holdings in MercadoLibre by 9.3% during the second quarter. WINTON GROUP Ltd now owns 8,620 shares of the company’s stock worth $14,632,000 after purchasing an additional 730 shares during the period. NorthRock Partners LLC increased its position in MercadoLibre by 12.3% during the second quarter. NorthRock Partners LLC now owns 255 shares of the company’s stock worth $433,000 after buying an additional 28 shares during the last quarter. Finally, RFG Advisory LLC increased its position in MercadoLibre by 32.2% during the second quarter. RFG Advisory LLC now owns 1,736 shares of the company’s stock worth $2,946,000 after buying an additional 423 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

MELI has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their target price on MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. BTIG Research reiterated a “buy” rating and issued a $2,150.00 price objective on shares of MercadoLibre in a report on Thursday, September 3rd. Citigroup raised their target price on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. UBS Group reduced 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 report on Wednesday, May 13th. Finally, Cantor Fitzgerald increased their price target on shares of MercadoLibre from $2,150.00 to $2,300.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,272.00.

MercadoLibre Trading Down 2.6%

Shares of MELI stock opened at $1,876.33 on Thursday. The stock has a market cap of $95.13 billion, a P/E ratio of 51.03, a price-to-earnings-growth ratio of 1.32 and a beta of 1.31. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,548.50. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. The stock has a 50 day simple moving average of $1,872.60 and a 200 day simple moving average of $1,768.04.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, August 6th. The company reported $9.19 EPS for the quarter, beating analysts’ consensus estimates of $8.65 by $0.54. The business had revenue of $10.17 billion during 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 revenue for the quarter was up 49.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $10.31 earnings per share. On average, research analysts predict that MercadoLibre, Inc. will post 39.11 earnings per share for the current fiscal year.

MercadoLibre Company Profile

MercadoLibre, Inc is a technology company that operates an online commerce and financial services ecosystem across Latin America. Founded in 1999 by Marcos Galperin, the company began as an online marketplace and has expanded into a broad platform serving consumers, merchants and businesses.

Its marketplace enables users to buy and sell products across categories, while Mercado Pago provides digital payments, online checkout, money transfers and other financial services. The company also offers Mercado Envíos logistics and fulfillment services, Mercado Ads advertising solutions, and credit products through Mercado Crédito.