Maxi Investments CY Ltd Raises Stock Holdings in MercadoLibre, Inc. $MELI

Maxi Investments CY Ltd boosted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 246.6% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 2,960 shares of the company’s stock after acquiring an additional 2,106 shares during the quarter. MercadoLibre comprises about 1.0% of Maxi Investments CY Ltd’s portfolio, making the stock its 28th largest position. Maxi Investments CY Ltd’s holdings in MercadoLibre were worth $5,024,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Laurel Wealth Advisors LLC acquired a new position in shares of MercadoLibre in the fourth quarter valued at about $26,000. Transamerica Financial Advisors LLC purchased a new stake in MercadoLibre in the fourth quarter valued at approximately $26,000. Purpose Unlimited Inc. purchased a new stake in MercadoLibre in the fourth quarter valued at approximately $28,000. Darwin Wealth Management LLC acquired a new position in MercadoLibre in the 2nd quarter worth approximately $29,000. Finally, Curio Wealth LLC purchased a new position in MercadoLibre during the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

MELI stock opened at $1,922.73 on Monday. The firm has a market cap of $97.48 billion, a P/E ratio of 52.29, a PEG ratio of 1.32 and a beta of 1.34. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,548.50. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.53. The company’s 50-day simple moving average is $1,793.05 and its 200-day simple moving average is $1,773.33.

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

Analysts Set New Price Targets

A number of research firms have weighed in on MELI. Morgan Stanley reduced their price objective on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. Cantor Fitzgerald raised their target price on MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. JPMorgan Chase & Co. lifted their price target on MercadoLibre from $1,900.00 to $2,150.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. Weiss Ratings reissued a “hold (c)” rating on shares of MercadoLibre in a report on Thursday, July 2nd. Finally, Scotiabank lowered their price objective on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a research report on Thursday, May 7th. Eleven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,272.00.

MercadoLibre 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.