Vise Technologies Inc. Invests $986,000 in MercadoLibre, Inc. $MELI

Vise Technologies Inc. acquired a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 377 shares of the company’s stock, valued at approximately $986,000.

A number of other hedge funds have also recently made changes to their positions in the business. Allworth Financial LP grew its position in MercadoLibre by 68.0% in the 2nd quarter. Allworth Financial LP now owns 1,149 shares of the company’s stock worth $3,004,000 after purchasing an additional 465 shares during the period. Illinois Municipal Retirement Fund grew its holdings in MercadoLibre by 25.8% during the 2nd quarter. Illinois Municipal Retirement Fund now owns 6,028 shares of the company’s stock valued at $15,755,000 after buying an additional 1,237 shares in the last quarter. Fidelis Capital Partners LLC increased its holdings in shares of MercadoLibre by 15.6% in the 2nd quarter. Fidelis Capital Partners LLC now owns 437 shares of the company’s stock worth $1,142,000 after buying an additional 59 shares during the last quarter. ProShare Advisors LLC raised its holdings in MercadoLibre by 4.6% during the 2nd quarter. ProShare Advisors LLC now owns 70,319 shares of the company’s stock valued at $183,788,000 after buying an additional 3,099 shares during the period. Finally, Profund Advisors LLC lifted its holdings in shares of MercadoLibre by 14.5% in the 2nd quarter. Profund Advisors LLC now owns 3,771 shares of the company’s stock worth $9,856,000 after acquiring an additional 478 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Price Performance

NASDAQ MELI traded down $49.26 on Thursday, hitting $2,054.65. The stock had a trading volume of 87,939 shares, compared to its average volume of 413,961. 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 $104.16 billion, a price-to-earnings ratio of 50.13, a price-to-earnings-growth ratio of 1.56 and a beta of 1.51. 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 firm has a 50-day moving average of $2,271.75 and a 200-day moving average of $2,375.57.

MercadoLibre (NASDAQ:MELI) last posted its earnings results 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). The firm had revenue of $7.41 billion for the quarter, compared to analysts’ expectations of $7.19 billion. MercadoLibre had a return on equity of 41.35% and a net margin of 7.93%.The firm’s revenue was up 39.5% on a year-over-year basis. During the same quarter last year, the company posted $7.83 EPS. Equities analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Susquehanna lowered their price objective on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating for the company in a research report on Monday, October 13th. JPMorgan Chase & Co. raised their price target on shares of MercadoLibre from $2,600.00 to $2,650.00 and gave the stock a “neutral” rating in a research note on Monday, November 3rd. Barclays lifted their target price on shares of MercadoLibre from $2,800.00 to $2,900.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Morgan Stanley upped their price target on MercadoLibre from $2,850.00 to $2,950.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. Finally, Benchmark cut their price objective on shares of MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, MercadoLibre presently has an average rating of “Moderate Buy” and a consensus target price of $2,861.25.

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.