Federated Hermes Inc. Purchases 2,792 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Federated Hermes Inc. boosted its position in MercadoLibre, Inc. (NASDAQ:MELI) by 4.8% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 61,432 shares of the company’s stock after purchasing an additional 2,792 shares during the period. Federated Hermes Inc. owned about 0.12% of MercadoLibre worth $100,957,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GQG Partners LLC grew its holdings 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 acquiring an additional 648,198 shares in the last quarter. Norges Bank bought a new position in MercadoLibre in the 4th quarter valued at $554,386,000. Price T Rowe Associates Inc. MD increased its position in shares of MercadoLibre by 43.2% during 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 purchasing an additional 232,787 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of MercadoLibre during the 2nd quarter valued at $2,913,000. Finally, Janus Henderson Group PLC raised its stake 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 purchasing an additional 132,028 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. The Goldman Sachs Group boosted their target price on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. New Street Research downgraded MercadoLibre from a “buy” rating to a “neutral” rating in a research report on Friday, May 24th. BTIG Research boosted their target price on MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Citigroup increased their price target on MercadoLibre from $2,000.00 to $2,200.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Finally, Susquehanna lifted their price objective on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a report on Wednesday, August 28th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $2,182.92.

MercadoLibre Trading Up 4.6 %

Shares of MercadoLibre stock opened at $2,140.10 on Friday. The company’s 50-day moving average price is $1,851.57 and its 200-day moving average price is $1,669.20. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. MercadoLibre, Inc. has a 12-month low of $1,141.04 and a 12-month high of $2,142.59. The company has a market cap of $108.50 billion, a price-to-earnings ratio of 95.75, a PEG ratio of 1.33 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last posted 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 analysts’ expectations of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The business’s revenue for the quarter was up 41.5% compared to the same quarter last year. During the same period in the prior year, the company posted $5.16 EPS. On average, equities analysts expect that MercadoLibre, Inc. will post 35.22 earnings per share 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.