RWC Asset Advisors US LLC Makes New $17.99 Million Investment in MercadoLibre, Inc. $MELI

RWC Asset Advisors US LLC acquired a new position in MercadoLibre, Inc. (NASDAQ:MELI) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 10,406 shares of the company’s stock, valued at approximately $17,987,000. MercadoLibre comprises 4.8% of RWC Asset Advisors US LLC’s holdings, making the stock its 9th biggest holding.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in MercadoLibre in the 2nd quarter worth $2,246,015,000. Janus Henderson Group PLC grew its position in shares of MercadoLibre by 1.7% during the first quarter. Janus Henderson Group PLC now owns 614,238 shares of the company’s stock valued at $1,062,019,000 after purchasing an additional 10,142 shares in the last quarter. Linonia Partnership LP grew its position in shares of MercadoLibre by 325.1% during the second quarter. Linonia Partnership LP now owns 553,788 shares of the company’s stock valued at $939,994,000 after purchasing an additional 423,527 shares in the last quarter. Jupiter Topco LLC bought a new stake in shares of MercadoLibre in the second quarter worth about $917,123,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of MercadoLibre by 7.9% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 533,816 shares of the company’s stock worth $906,094,000 after purchasing an additional 38,871 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on MELI shares. Cantor Fitzgerald cut their price target on MercadoLibre from $2,300.00 to $2,200.00 and set an “overweight” rating for the company in a report on Monday, October 12th. JPMorgan Chase & Co. upped their price objective on MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. BTIG Research reiterated a “buy” rating and set a $2,150.00 target price on shares of MercadoLibre in a research report on Thursday, September 3rd. New Street Research started coverage on shares of MercadoLibre in a report on Wednesday, September 23rd. They issued a “buy” rating and a $2,450.00 target price for the company. Finally, Citigroup reduced their price target on shares of MercadoLibre from $2,150.00 to $2,100.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 13th. Twelve investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,251.88.

MercadoLibre Trading Down 0.8%

Shares of NASDAQ:MELI traded down $14.80 during trading on Friday, reaching $1,810.15. The company’s stock had a trading volume of 382,489 shares, compared to its average volume of 482,945. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. MercadoLibre, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,428.00. The firm’s 50 day simple moving average is $1,862.02 and its two-hundred day simple moving average is $1,788.72. The stock has a market capitalization of $91.77 billion, a PE ratio of 49.23, a price-to-earnings-growth ratio of 1.28 and a beta of 1.31.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, August 6th. The company reported $9.19 earnings per share for the quarter, beating the consensus estimate of $8.65 by $0.54. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%. The company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same quarter in the prior year, the firm posted $10.31 EPS. MercadoLibre’s quarterly revenue was up 49.8% compared to the same quarter last year. On average, research analysts predict that MercadoLibre, Inc. will post 38.09 EPS for the current fiscal year.

About MercadoLibre

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 initially developed an online marketplace and has expanded into a broad platform connecting buyers and sellers with businesses and consumers.

Its commerce operations include the MercadoLibre marketplace, where users can purchase and sell products across numerous categories. The company also offers supporting services such as Mercado Envíos for shipping and logistics, Mercado Ads for digital advertising, and tools for merchants to manage their online businesses.

MercadoLibre’s financial technology business is centered on Mercado Pago, which provides digital payment processing, online checkout, money transfer and account services.