Tobam Makes New Investment in MercadoLibre, Inc. (NASDAQ:MELI)

Tobam bought a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 46 shares of the company’s stock, valued at approximately $76,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. 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. Raymond James & Associates boosted its stake in shares of MercadoLibre by 4.8% during the 2nd quarter. Raymond James & Associates now owns 34,840 shares of the company’s stock valued at $57,256,000 after buying an additional 1,604 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of MercadoLibre by 20.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,642 shares of the company’s stock worth $41,794,000 after buying an additional 4,658 shares in the last quarter. Gulf International Bank UK Ltd increased its stake in shares of MercadoLibre by 33.4% in the first quarter. Gulf International Bank UK Ltd now owns 4,960 shares of the company’s stock worth $7,499,000 after buying an additional 1,241 shares during the last quarter. Finally, Sarasin & Partners LLP raised its holdings in MercadoLibre by 168.5% in the second quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock valued at $74,622,000 after acquiring an additional 28,494 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Up 2.3 %

MELI stock opened at $2,061.66 on Friday. The stock has a market cap of $104.52 billion, a PE ratio of 92.24, a price-to-earnings-growth ratio of 1.13 and a beta of 1.60. The firm’s 50-day simple moving average is $1,768.02 and its 200 day simple moving average is $1,648.77. MercadoLibre, Inc. has a fifty-two week low of $1,141.04 and a fifty-two week high of $2,064.76. The company has a quick ratio of 1.25, a current ratio of 1.27 and a debt-to-equity ratio of 0.66.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, beating the consensus estimate of $8.53 by $1.95. The company had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 45.61%. MercadoLibre’s revenue was up 41.5% compared to the same quarter last year. During the same quarter last year, the business earned $5.16 earnings per share. As a group, sell-side analysts predict that MercadoLibre, Inc. will post 33.4 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MELI. Dbs Bank raised shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 11th. Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and boosted their price objective for the company from $1,400.00 to $2,100.00 in a report on Monday, May 20th. Barclays increased their target price on MercadoLibre from $2,000.00 to $2,100.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Wedbush reiterated an “outperform” rating and issued a $1,800.00 price target on shares of MercadoLibre in a report on Friday, May 3rd. Finally, JPMorgan Chase & Co. raised their price objective on MercadoLibre from $2,150.00 to $2,400.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $2,067.92.

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.