MercadoLibre, Inc. (NASDAQ:MELI) Position Raised by Slow Capital Inc.

Slow Capital Inc. grew its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 11,767 shares of the company’s stock after purchasing an additional 220 shares during the period. MercadoLibre makes up approximately 3.7% of Slow Capital Inc.’s holdings, making the stock its 3rd largest position. Slow Capital Inc.’s holdings in MercadoLibre were worth $24,146,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. O Dell Group LLC grew its stake in shares of MercadoLibre by 2.1% in the first quarter. O Dell Group LLC now owns 294 shares of the company’s stock worth $445,000 after acquiring an additional 6 shares during the last quarter. Belpointe Asset Management LLC grew its position in MercadoLibre by 1.0% during the 2nd quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock valued at $1,016,000 after purchasing an additional 6 shares during the last quarter. Ameritas Investment Partners Inc. increased its stake in MercadoLibre by 0.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company’s stock valued at $2,419,000 after purchasing an additional 6 shares in the last quarter. Evolutionary Tree Capital Management LLC raised its holdings in MercadoLibre by 0.3% in the second quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company’s stock worth $3,403,000 after buying an additional 6 shares during the last quarter. Finally, Hilltop National Bank lifted its stake in shares of MercadoLibre by 14.3% in the second quarter. Hilltop National Bank now owns 56 shares of the company’s stock worth $92,000 after buying an additional 7 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

MercadoLibre Price Performance

NASDAQ MELI opened at $2,079.79 on Friday. 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 business’s fifty day moving average is $2,034.69 and its 200 day moving average is $1,762.16. The company has a market capitalization of $105.44 billion, a PE ratio of 93.06, a price-to-earnings-growth ratio of 1.25 and a beta of 1.61. MercadoLibre, Inc. has a fifty-two week low of $1,141.04 and a fifty-two week high of $2,161.73.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $4.64 billion. During the same period in the previous year, the company posted $5.16 EPS. The firm’s revenue was up 41.5% on a year-over-year basis. Sell-side analysts predict that MercadoLibre, Inc. will post 37.55 earnings per share for the current year.

Analyst Ratings Changes

MELI has been the topic of several analyst reports. BTIG Research upped their price objective on MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. JPMorgan Chase & Co. downgraded MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 price target on the stock. in a report on Wednesday, October 2nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $2,530.00 price objective on shares of MercadoLibre in a report on Monday, October 7th. Redburn Atlantic started coverage on shares of MercadoLibre in a research note on Friday, October 11th. They set a “buy” rating and a $2,800.00 target price on the stock. Finally, The Goldman Sachs Group raised their price target on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average target price of $2,283.00.

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.