NEOS Investment Management LLC Purchases 2,722 Shares of MercadoLibre, Inc. $MELI

NEOS Investment Management LLC increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 10.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 30,045 shares of the company’s stock after purchasing an additional 2,722 shares during the period. NEOS Investment Management LLC’s holdings in MercadoLibre were worth $50,998,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in MELI. BlackRock Inc. bought a new stake in MercadoLibre during the second quarter worth $2,246,015,000. Jupiter Topco LLC acquired a new stake in shares of MercadoLibre in the 2nd quarter valued at $917,123,000. Linonia Partnership LP increased its stake in shares of MercadoLibre by 325.1% in the 2nd 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 during the last quarter. Capital Research Global Investors increased its stake in shares of MercadoLibre by 22.5% in the 4th quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock valued at $4,481,812,000 after purchasing an additional 408,939 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of MercadoLibre during the 4th quarter worth $597,045,000. 87.62% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on MELI. Zacks Research upgraded MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Scotiabank lowered their target price on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating for the company in a research note on Thursday, May 7th. Cantor Fitzgerald increased their target price on shares of MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Weiss Ratings restated a “hold (c)” rating on shares of MercadoLibre in a research note on Thursday, July 2nd. Finally, JPMorgan Chase & Co. lifted their price target on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. Eleven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $2,272.00.

MercadoLibre Stock Down 0.8%

Shares of MELI opened at $1,991.06 on Friday. 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, Inc. has a 52 week low of $1,495.00 and a 52 week high of $2,548.50. The stock has a market capitalization of $100.95 billion, a price-to-earnings ratio of 54.15, a PEG ratio of 1.37 and a beta of 1.31. The stock has a fifty day moving average of $1,853.37 and a 200-day moving average of $1,769.52.

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

MercadoLibre Company 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.