MercadoLibre, Inc. (NASDAQ:MELI) Holdings Decreased by Deepwater Asset Management LLC

Deepwater Asset Management LLC lowered its position in MercadoLibre, Inc. (NASDAQ:MELI) by 6.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,815 shares of the company’s stock after selling 594 shares during the quarter. MercadoLibre accounts for 5.3% of Deepwater Asset Management LLC’s investment portfolio, making the stock its 7th biggest position. Deepwater Asset Management LLC’s holdings in MercadoLibre were worth $14,487,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MELI. First PREMIER Bank acquired a new position in shares of MercadoLibre in the 1st quarter valued at about $27,000. Migdal Insurance & Financial Holdings Ltd. raised its holdings in MercadoLibre by 1,600.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after buying an additional 16 shares during the period. DSM Capital Partners LLC acquired a new position in MercadoLibre during the fourth quarter valued at approximately $36,000. Scarborough Advisors LLC purchased a new stake in MercadoLibre during the fourth quarter worth approximately $36,000. Finally, Financial Connections Group Inc. acquired a new stake in shares of MercadoLibre in the second quarter worth $36,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Cantor Fitzgerald assumed coverage on shares of MercadoLibre in a report on Thursday, September 5th. They set an “overweight” rating and a $2,530.00 target price on the stock. Barclays upped their target price on MercadoLibre from $2,000.00 to $2,100.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Bank of America raised their target price on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a report on Thursday, September 12th. StockNews.com cut MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Finally, Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,207.31.

MercadoLibre Stock Performance

Shares of MELI opened at $2,103.75 on Friday. The stock has a market capitalization of $106.65 billion, a PE ratio of 94.13, a price-to-earnings-growth ratio of 1.33 and a beta of 1.61. The business’s fifty day moving average price is $1,899.17 and its 200 day moving average price is $1,691.54. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26. MercadoLibre, Inc. has a 12-month low of $1,141.04 and a 12-month high of $2,157.64.

MercadoLibre (NASDAQ:MELI) last posted 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 business had revenue of $5.07 billion during 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%. The company’s quarterly revenue was up 41.5% on a year-over-year basis. During the same period in the previous year, the business posted $5.16 EPS. Equities research analysts forecast that MercadoLibre, Inc. will post 35.22 EPS for the current 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.