MercadoLibre, Inc. (NASDAQ:MELI) Shares Acquired by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd increased its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 33.4% in the first quarter, Holdings Channel.com reports. The institutional investor owned 4,960 shares of the company’s stock after purchasing an additional 1,241 shares during the quarter. Gulf International Bank UK Ltd’s holdings in MercadoLibre were worth $7,499,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of MELI. Wealthspire Advisors LLC grew its stake in MercadoLibre by 1.8% during the 4th quarter. Wealthspire Advisors LLC now owns 391 shares of the company’s stock valued at $614,000 after purchasing an additional 7 shares in the last quarter. Independent Advisor Alliance grew its stake in MercadoLibre by 1.2% during the 4th quarter. Independent Advisor Alliance now owns 586 shares of the company’s stock valued at $921,000 after purchasing an additional 7 shares in the last quarter. Gateway Advisory LLC grew its stake in MercadoLibre by 1.9% during the 3rd quarter. Gateway Advisory LLC now owns 430 shares of the company’s stock valued at $545,000 after purchasing an additional 8 shares in the last quarter. Contravisory Investment Management Inc. grew its stake in MercadoLibre by 6.2% during the 4th quarter. Contravisory Investment Management Inc. now owns 138 shares of the company’s stock valued at $217,000 after purchasing an additional 8 shares in the last quarter. Finally, Vestor Capital LLC grew its stake in MercadoLibre by 10.0% during the 4th quarter. Vestor Capital LLC now owns 88 shares of the company’s stock valued at $138,000 after purchasing an additional 8 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Trading Up 0.9 %

Shares of NASDAQ MELI opened at $1,600.05 on Friday. The company has a market cap of $81.12 billion, a price-to-earnings ratio of 71.59, a price-to-earnings-growth ratio of 1.16 and a beta of 1.60. MercadoLibre, Inc. has a 12-month low of $1,063.02 and a 12-month high of $1,825.00. The company has a current ratio of 1.27, a quick ratio of 1.25 and a debt-to-equity ratio of 0.66. The stock’s 50 day simple moving average is $1,591.35 and its 200 day simple moving average is $1,605.60.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $6.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.64 by $0.14. The business had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $3.84 billion. MercadoLibre had a return on equity of 39.46% and a net margin of 7.17%. The business’s revenue was up 36.0% on a year-over-year basis. During the same quarter last year, the business posted $3.97 EPS. Equities research analysts expect that MercadoLibre, Inc. will post 33.81 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on MELI shares. JPMorgan Chase & Co. raised their price objective on MercadoLibre from $2,000.00 to $2,150.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. DZ Bank raised MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 target price on the stock in a report on Tuesday, April 23rd. Wedbush reaffirmed an “outperform” rating and set a $1,800.00 target price on shares of MercadoLibre in a report on Friday, May 3rd. Finally, Citigroup reduced their target price on MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating on the stock in a report on Wednesday, March 27th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $1,881.92.

MercadoLibre 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.