MercadoLibre, Inc. (NASDAQ:MELI) Shares Bought by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. grew its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 11.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 471 shares of the company’s stock after acquiring an additional 47 shares during the period. E Fund Management Co. Ltd.’s holdings in MercadoLibre were worth $774,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of MELI. O Dell Group LLC grew its stake in shares of MercadoLibre by 2.1% during the 1st quarter. O Dell Group LLC now owns 294 shares of the company’s stock valued at $445,000 after buying an additional 6 shares during the period. Belpointe Asset Management LLC boosted its position in MercadoLibre by 1.0% during the 2nd quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock worth $1,016,000 after purchasing an additional 6 shares during the period. Hilltop National Bank boosted its position in MercadoLibre by 14.3% during the 2nd quarter. Hilltop National Bank now owns 56 shares of the company’s stock worth $92,000 after purchasing an additional 7 shares during the period. Contravisory Investment Management Inc. boosted its position in MercadoLibre by 5.1% during the 2nd quarter. Contravisory Investment Management Inc. now owns 143 shares of the company’s stock worth $235,000 after purchasing an additional 7 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in MercadoLibre by 0.9% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 752 shares of the company’s stock worth $1,294,000 after purchasing an additional 7 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MELI. Citigroup upped their price target on shares of MercadoLibre from $2,000.00 to $2,200.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. boosted their price objective on shares of MercadoLibre from $2,150.00 to $2,400.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Bank of America boosted their price objective on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. BTIG Research boosted their price objective on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Finally, StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $2,182.92.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $2,102.64 on Thursday. The firm has a market cap of $106.60 billion, a PE ratio of 94.08, a price-to-earnings-growth ratio of 1.33 and a beta of 1.61. The firm’s 50-day simple moving average is $1,884.30 and its 200-day simple moving average is $1,683.67. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. MercadoLibre, Inc. has a 1 year low of $1,141.04 and a 1 year high of $2,143.96.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, topping the consensus estimate of $8.53 by $1.95. The firm 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 43.52%. MercadoLibre’s quarterly revenue was up 41.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.16 earnings per share. Equities analysts forecast that MercadoLibre, Inc. will post 35.22 earnings per share for the current fiscal year.

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.