Natixis Raises Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Natixis raised its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 78.8% during the 1st quarter, Holdings Channel reports. The fund owned 2,237 shares of the company’s stock after purchasing an additional 986 shares during the period. Natixis’ holdings in MercadoLibre were worth $3,382,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its position in shares of MercadoLibre by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 178,815 shares of the company’s stock valued at $226,716,000 after purchasing an additional 4,065 shares during the last quarter. SG Americas Securities LLC increased its position in shares of MercadoLibre by 67.4% during the 4th quarter. SG Americas Securities LLC now owns 1,890 shares of the company’s stock valued at $2,970,000 after purchasing an additional 761 shares during the last quarter. HB Wealth Management LLC bought a new position in shares of MercadoLibre during the 4th quarter valued at approximately $283,000. Salem Investment Counselors Inc. increased its position in shares of MercadoLibre by 233.3% during the 4th quarter. Salem Investment Counselors Inc. now owns 80 shares of the company’s stock valued at $126,000 after purchasing an additional 56 shares during the last quarter. Finally, Raymond James & Associates grew its position in MercadoLibre by 27.4% in the 4th quarter. Raymond James & Associates now owns 28,612 shares of the company’s stock valued at $44,965,000 after acquiring an additional 6,157 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on MELI shares. UBS Group cut their price objective on MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. Dbs Bank raised MercadoLibre from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 11th. DZ Bank raised MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price objective on the stock in a research report on Tuesday, April 23rd. New Street Research cut MercadoLibre from a “buy” rating to a “neutral” rating in a report on Friday, May 24th. Finally, Wedbush reiterated an “outperform” rating and issued a $1,800.00 target price on shares of MercadoLibre in a report on Friday, May 3rd. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,922.08.

MercadoLibre Stock Up 0.4 %

MercadoLibre stock traded up $7.16 during midday trading on Friday, reaching $1,632.31. The company’s stock had a trading volume of 12,406 shares, compared to its average volume of 362,835. The stock’s 50-day simple moving average is $1,656.94 and its 200-day simple moving average is $1,618.65. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.27 and a quick ratio of 1.25. The stock has a market capitalization of $82.76 billion, a P/E ratio of 72.71, a PEG ratio of 1.22 and a beta of 1.60. MercadoLibre, Inc. has a 52-week low of $1,141.04 and a 52-week high of $1,825.00.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $6.78 earnings per share for the quarter, beating analysts’ consensus estimates of $6.64 by $0.14. The business had revenue of $4.33 billion for the quarter, compared to analyst estimates of $3.84 billion. MercadoLibre had a return on equity of 39.46% and a net margin of 7.17%. The company’s revenue was up 36.0% on a year-over-year basis. During the same period in the prior year, the company earned $3.97 earnings per share. On average, sell-side analysts expect that MercadoLibre, Inc. will post 33.38 EPS for the current year.

MercadoLibre Company 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.