Privium Fund Management UK Ltd Acquires New Shares in MercadoLibre, Inc. (NASDAQ:MELI)

Privium Fund Management UK Ltd acquired a new stake 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 fund acquired 550 shares of the company’s stock, valued at approximately $875,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. O Dell Group LLC boosted its position in MercadoLibre by 2.1% during the 1st quarter. O Dell Group LLC now owns 294 shares of the company’s stock valued at $445,000 after purchasing an additional 6 shares during the period. Wealthspire Advisors LLC boosted its position in MercadoLibre by 1.8% during the 4th quarter. Wealthspire Advisors LLC now owns 391 shares of the company’s stock worth $614,000 after acquiring an additional 7 shares during the period. Independent Advisor Alliance boosted its position in MercadoLibre by 1.2% during the 4th quarter. Independent Advisor Alliance now owns 586 shares of the company’s stock worth $921,000 after acquiring an additional 7 shares during the period. Hilltop National Bank boosted its position in MercadoLibre by 14.3% during the 2nd quarter. Hilltop National Bank now owns 56 shares of the company’s stock worth $92,000 after acquiring an additional 7 shares during the period. Finally, Contravisory Investment Management Inc. boosted its position in MercadoLibre by 5.1% during the 2nd quarter. Contravisory Investment Management Inc. now owns 143 shares of the company’s stock worth $235,000 after acquiring an additional 7 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Down 2.4 %

NASDAQ:MELI traded down $49.87 during trading hours on Tuesday, hitting $2,011.79. 114,035 shares of the company’s stock traded hands, compared to its average volume of 361,451. The firm has a market cap of $101.99 billion, a P/E ratio of 89.81, a P/E/G ratio of 1.36 and a beta of 1.60. MercadoLibre, Inc. has a twelve month low of $1,141.04 and a twelve month high of $2,064.76. 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’s fifty day moving average price is $1,786.83 and its two-hundred day moving average price is $1,652.03.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results 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. The firm had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.64 billion. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. MercadoLibre’s quarterly revenue was up 41.5% on a year-over-year basis. During the same period in the previous year, the firm earned $5.16 earnings per share. On average, research analysts expect that MercadoLibre, Inc. will post 35.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

MELI has been the subject of a number of analyst reports. Barclays boosted their price target 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. Citigroup boosted their price target on MercadoLibre from $2,000.00 to $2,200.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $1,400.00 to $2,100.00 in a research note on Monday, May 20th. Dbs Bank raised MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. Finally, BTIG Research boosted their price objective on MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $2,105.91.

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.