Marshall Wace LLP Raises Stock Holdings in MercadoLibre, Inc. $MELI

Marshall Wace LLP boosted its position in MercadoLibre, Inc. (NASDAQ:MELI) by 5.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 206,119 shares of the company’s stock after purchasing an additional 11,386 shares during the quarter. MercadoLibre makes up approximately 0.6% of Marshall Wace LLP’s investment portfolio, making the stock its 17th largest holding. Marshall Wace LLP owned about 0.41% of MercadoLibre worth $538,719,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Jackson Wealth Management LLC purchased a new position in MercadoLibre in the second quarter worth $499,000. Highview Capital Management LLC DE purchased a new position in MercadoLibre during the 2nd quarter worth $559,000. Ninety One North America Inc. raised its stake in MercadoLibre by 21.5% in the second quarter. Ninety One North America Inc. now owns 6,094 shares of the company’s stock valued at $15,927,000 after buying an additional 1,080 shares during the last quarter. Resona Asset Management Co. Ltd. boosted its holdings in MercadoLibre by 4.0% in the second quarter. Resona Asset Management Co. Ltd. now owns 15,308 shares of the company’s stock worth $39,900,000 after acquiring an additional 585 shares in the last quarter. Finally, Jennison Associates LLC grew its stake in shares of MercadoLibre by 7.0% during the second quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock worth $3,228,460,000 after acquiring an additional 81,124 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on MELI shares. Morgan Stanley increased their price objective on shares of MercadoLibre from $2,850.00 to $2,950.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. 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 note on Monday, October 13th. UBS Group dropped their price objective on shares of MercadoLibre from $3,000.00 to $2,900.00 and set a “buy” rating on the stock in a report on Monday, November 24th. Wedbush lifted their price target on MercadoLibre from $2,700.00 to $2,800.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Finally, Cantor Fitzgerald dropped their price target on MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $2,848.82.

MercadoLibre Stock Performance

Shares of MELI stock opened at $2,139.56 on Friday. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week high of $2,645.22. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.55. The stock has a market cap of $108.48 billion, a PE ratio of 52.21, a price-to-earnings-growth ratio of 1.52 and a beta of 1.42. The business has a 50-day simple moving average of $2,154.49 and a 200-day simple moving average of $2,338.41.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share for the quarter, missing the consensus estimate of $9.88 by ($1.56). MercadoLibre had a net margin of 7.93% and a return on equity of 39.03%. The company had revenue of $7.41 billion for the quarter, compared to analysts’ expectations of $7.19 billion. During the same quarter in the prior year, the business posted $7.83 earnings per share. The firm’s revenue was up 39.5% compared to the same quarter last year. On average, equities analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

MercadoLibre Company 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.