230 Shares in MercadoLibre, Inc. (NASDAQ:MELI) Bought by Deerfield Management Company L.P. Series C

Deerfield Management Company L.P. Series C bought a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 230 shares of the company’s stock, valued at approximately $378,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Dorsal Capital Management LP raised its holdings in MercadoLibre by 25.0% during the 2nd quarter. Dorsal Capital Management LP now owns 87,500 shares of the company’s stock worth $143,798,000 after buying an additional 17,500 shares during the period. Duquesne Family Office LLC purchased a new position in shares of MercadoLibre in the second quarter worth approximately $59,973,000. AXA S.A. raised its holdings in shares of MercadoLibre by 17.9% during the second quarter. AXA S.A. now owns 42,322 shares of the company’s stock valued at $69,552,000 after acquiring an additional 6,419 shares during the period. Point72 Hong Kong Ltd purchased a new stake in shares of MercadoLibre in the 2nd quarter valued at approximately $3,443,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in MercadoLibre by 60.3% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 8,738 shares of the company’s stock worth $14,360,000 after purchasing an additional 3,288 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $2,064.71 on Friday. The company has a market cap of $104.67 billion, a price-to-earnings ratio of 92.38, a PEG ratio of 1.34 and a beta of 1.61. The business has a 50 day moving average price of $1,932.91 and a 200 day moving average price of $1,706.72. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. MercadoLibre, Inc. has a twelve month low of $1,141.04 and a twelve month high of $2,161.73.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, beating the consensus estimate of $8.53 by $1.95. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The company had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same period in the prior year, the business earned $5.16 earnings per share. MercadoLibre’s revenue for the quarter was up 41.5% compared to the same quarter last year. Research analysts predict that MercadoLibre, Inc. will post 35.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MELI. Cantor Fitzgerald reissued an “overweight” rating and set a $2,530.00 price target on shares of MercadoLibre in a research report on Monday, September 23rd. StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. JPMorgan Chase & Co. raised their price target 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. Morgan Stanley upped their price objective on shares of MercadoLibre from $2,175.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Finally, Barclays lifted their target price on shares of MercadoLibre from $2,000.00 to $2,100.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $2,217.50.

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.