MercadoLibre, Inc. $MELI Shares Bought by Route One Investment Company L.P.

Route One Investment Company L.P. grew its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 46.4% in the second quarter, HoldingsChannel reports. The fund owned 65,560 shares of the company’s stock after acquiring an additional 20,775 shares during the period. MercadoLibre makes up 4.5% of Route One Investment Company L.P.’s portfolio, making the stock its 10th largest position. Route One Investment Company L.P.’s holdings in MercadoLibre were worth $111,281,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Laurel Wealth Advisors LLC bought a new position in MercadoLibre in the fourth quarter valued at $26,000. Transamerica Financial Advisors LLC bought a new stake in MercadoLibre during the 4th quarter worth about $26,000. Purpose Unlimited Inc. bought a new stake in MercadoLibre during the 4th quarter worth about $28,000. Darwin Wealth Management LLC acquired a new position in shares of MercadoLibre during the 2nd quarter worth about $29,000. Finally, Curio Wealth LLC acquired a new position in shares of MercadoLibre during the 4th quarter worth about $30,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on MELI shares. Citigroup lifted their target price on MercadoLibre from $1,950.00 to $2,000.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Weiss Ratings restated a “hold (c)” rating on shares of MercadoLibre in a research note on Thursday, July 2nd. Cantor Fitzgerald boosted their price target on MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Benchmark dropped their price objective on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Finally, Scotiabank decreased their target price on shares of 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. Eleven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $2,272.00.

MercadoLibre Price Performance

NASDAQ:MELI opened at $1,997.00 on Wednesday. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,548.50. The firm has a market capitalization of $101.25 billion, a price-to-earnings ratio of 54.31, a P/E/G ratio of 1.33 and a beta of 1.34. The stock’s 50 day moving average price is $1,805.54 and its two-hundred day moving average price is $1,771.87. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.53.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Wednesday, August 5th. The company reported $9.19 EPS for the quarter, topping the consensus estimate of $8.65 by $0.54. The company had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.79 billion. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The firm’s revenue for the quarter was up 49.8% compared to the same quarter last year. During the same period in the previous year, the company posted $10.31 EPS. On average, analysts anticipate that MercadoLibre, Inc. will post 39.11 earnings per share for the current year.

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.