1,150 Shares in MercadoLibre, Inc. (NASDAQ:MELI) Purchased by Octahedron Capital Management L.P.

Octahedron Capital Management L.P. acquired a new position in MercadoLibre, Inc. (NASDAQ:MELI) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 1,150 shares of the company’s stock, valued at approximately $1,890,000. MercadoLibre accounts for 1.9% of Octahedron Capital Management L.P.’s portfolio, making the stock its 14th largest holding.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital International Investors boosted its holdings in MercadoLibre by 0.4% during the fourth quarter. Capital International Investors now owns 1,037,070 shares of the company’s stock worth $1,630,740,000 after buying an additional 4,317 shares during the last quarter. Capital World Investors boosted its holdings in MercadoLibre by 12.7% during the first quarter. Capital World Investors now owns 845,749 shares of the company’s stock worth $1,278,738,000 after buying an additional 95,029 shares during the last quarter. GQG Partners LLC boosted its holdings in MercadoLibre by 442.2% during the first quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock worth $1,201,679,000 after buying an additional 648,198 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in MercadoLibre by 43.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock worth $1,167,073,000 after buying an additional 232,787 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in MercadoLibre by 55.8% during the first quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock worth $557,225,000 after buying an additional 132,028 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on MELI shares. New Street Research cut MercadoLibre from a “buy” rating to a “neutral” rating in a report on Friday, May 24th. Dbs Bank upgraded MercadoLibre from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 11th. StockNews.com cut MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Bank of America lifted their price objective on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a report on Thursday, September 12th. Finally, BTIG Research lifted their price objective on MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $2,207.31.

MercadoLibre Trading Down 0.3 %

NASDAQ MELI opened at $2,103.75 on Friday. The stock has a market capitalization of $106.65 billion, a price-to-earnings ratio of 94.13, a PEG ratio of 1.33 and a beta of 1.61. The stock’s 50 day moving average price is $1,899.17 and its two-hundred day moving average price is $1,690.40. 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 52 week low of $1,141.04 and a 52 week high of $2,157.64.

MercadoLibre (NASDAQ:MELI) last released its 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 firm had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $4.64 billion. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The business’s quarterly revenue was up 41.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.16 EPS. As a group, analysts anticipate that MercadoLibre, Inc. will post 35.22 earnings per share for the current fiscal year.

About MercadoLibre

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.