RWC Asset Management LLP Acquires 4,255 Shares of MercadoLibre, Inc. $MELI

RWC Asset Management LLP grew its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 38.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 15,264 shares of the company’s stock after purchasing an additional 4,255 shares during the quarter. MercadoLibre accounts for about 1.0% of RWC Asset Management LLP’s holdings, making the stock its 25th biggest holding. RWC Asset Management LLP’s holdings in MercadoLibre were worth $26,384,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in MercadoLibre in the 2nd quarter worth approximately $2,246,015,000. Jupiter Topco LLC acquired a new position in MercadoLibre during the 2nd quarter valued at approximately $917,123,000. Linonia Partnership LP increased its stake in MercadoLibre by 325.1% during 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 in the last quarter. 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 last quarter. Finally, Bank of America Corp DE purchased a new position in shares of MercadoLibre in the second quarter worth $291,146,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Performance

Shares of MercadoLibre stock traded down $14.80 during trading on Friday, hitting $1,810.15. 382,489 shares of the company’s stock were exchanged, compared to its average volume of 482,945. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12. The business has a 50-day simple moving average of $1,862.02 and a 200-day simple moving average of $1,788.72. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,428.00. The stock has a market capitalization of $91.77 billion, a price-to-earnings ratio of 49.23, a PEG ratio of 1.28 and a beta of 1.31.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on MELI shares. Citigroup lowered their price objective on shares of MercadoLibre from $2,150.00 to $2,100.00 and set a “neutral” rating for the company in a research note on Tuesday, October 13th. Zacks Research upgraded MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Weiss Ratings restated a “hold (c)” rating on shares of MercadoLibre in a research note on Tuesday, September 29th. Cantor Fitzgerald lowered their price target on MercadoLibre from $2,300.00 to $2,200.00 and set an “overweight” rating for the company in a research report on Monday, October 12th. Finally, JPMorgan Chase & Co. boosted their price target on MercadoLibre from $1,900.00 to $2,150.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. Twelve research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,251.88.

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 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.