Magnetar Financial LLC Buys New Shares in MercadoLibre, Inc. (NASDAQ:MELI)

Magnetar Financial LLC bought a new stake in MercadoLibre, Inc. (NASDAQ:MELI) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 639 shares of the company’s stock, valued at approximately $1,050,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. First PREMIER Bank acquired a new stake in MercadoLibre during the first quarter worth about $27,000. Migdal Insurance & Financial Holdings Ltd. increased its stake in MercadoLibre by 1,600.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after acquiring an additional 16 shares during the last quarter. Scarborough Advisors LLC acquired a new stake in MercadoLibre during the fourth quarter worth about $36,000. Financial Connections Group Inc. acquired a new stake in MercadoLibre during the second quarter worth about $36,000. Finally, Transcendent Capital Group LLC acquired a new stake in MercadoLibre during the fourth quarter worth about $38,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on MELI shares. Bank of America upped their price target on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. The Goldman Sachs Group upped their target price on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Dbs Bank raised MercadoLibre from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 11th. BTIG Research upped their target price on MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Finally, Morgan Stanley upped their target price on MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,207.31.

MercadoLibre Trading Up 0.4 %

Shares of MELI opened at $2,111.00 on Wednesday. The company has a market capitalization of $107.03 billion, a P/E ratio of 94.45, a P/E/G ratio of 1.34 and a beta of 1.61. MercadoLibre, Inc. has a one year low of $1,141.04 and a one year high of $2,157.64. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. The stock has a 50-day moving average price of $1,914.15 and a 200 day moving average price of $1,700.96.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, beating analysts’ consensus estimates of $8.53 by $1.95. The firm had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.64 billion. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. MercadoLibre’s revenue for the quarter was up 41.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.16 earnings per share. Sell-side analysts forecast that MercadoLibre, Inc. will post 35.79 EPS 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.