New Century Financial Group LLC Acquires Shares of 134 MercadoLibre, Inc. (NASDAQ:MELI)

New Century Financial Group LLC bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 134 shares of the company’s stock, valued at approximately $220,000.

Other institutional investors also recently made changes to their positions in the company. GQG Partners LLC raised its position in shares of MercadoLibre by 442.2% in the first quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock valued at $1,201,679,000 after buying an additional 648,198 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of MercadoLibre by 43.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock valued at $1,167,073,000 after buying an additional 232,787 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of MercadoLibre during the 2nd quarter worth approximately $2,913,000. Janus Henderson Group PLC boosted its position in shares of MercadoLibre by 55.8% during the 1st quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock worth $557,225,000 after acquiring an additional 132,028 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in MercadoLibre by 1,432.2% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 127,355 shares of the company’s stock valued at $200,140,000 after acquiring an additional 119,043 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

MELI stock opened at $1,970.72 on Thursday. MercadoLibre, Inc. has a 1-year low of $1,141.04 and a 1-year high of $2,161.73. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. The stock has a 50-day moving average price of $1,962.54 and a 200-day moving average price of $1,721.79. The firm has a market cap of $99.91 billion, a PE ratio of 88.18, a price-to-earnings-growth ratio of 1.34 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.53 by $1.95. The business 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 revenue was up 41.5% on a year-over-year basis. During the same period in the prior year, the firm earned $5.16 earnings per share. As a group, equities research analysts expect that MercadoLibre, Inc. will post 35.79 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on MELI shares. Barclays upped their price objective on MercadoLibre from $2,100.00 to $2,500.00 and gave the stock an “overweight” rating in a research report on Wednesday. Cantor Fitzgerald reiterated an “overweight” rating and set a $2,530.00 price target on shares of MercadoLibre in a report on Monday, September 23rd. StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Raymond James initiated coverage on MercadoLibre in a report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 price target on the stock. Finally, JPMorgan Chase & Co. lowered shares of MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 target price on the stock. in a report on Wednesday. Three 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 stock. According to data from MarketBeat, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average price target of $2,246.07.

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.