Frank Rimerman Advisors LLC Increases Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Frank Rimerman Advisors LLC increased its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 1.7% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 756 shares of the company’s stock after purchasing an additional 13 shares during the period. Frank Rimerman Advisors LLC’s holdings in MercadoLibre were worth $1,551,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Capital World Investors boosted its stake in shares of MercadoLibre by 12.7% in the 1st quarter. Capital World Investors now owns 845,749 shares of the company’s stock valued at $1,278,738,000 after purchasing an additional 95,029 shares in the last quarter. GQG Partners LLC boosted its position in MercadoLibre by 442.2% during the 1st 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 during the period. Price T Rowe Associates Inc. MD boosted its position in 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 buying an additional 232,787 shares during the period. Janus Henderson Group PLC boosted its position in MercadoLibre by 55.8% during the 1st quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock valued at $557,225,000 after buying an additional 132,028 shares during the period. Finally, Legal & General Group Plc boosted its position in MercadoLibre by 3.6% during the 2nd quarter. Legal & General Group Plc now owns 323,570 shares of the company’s stock valued at $531,755,000 after buying an additional 11,265 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. cut shares of MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 price target for the company. in a research report on Wednesday, October 2nd. Barclays increased their price target on shares of MercadoLibre from $2,100.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Citigroup increased their price target on shares of MercadoLibre from $2,200.00 to $2,480.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Morgan Stanley increased their price target on shares of MercadoLibre from $2,175.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Finally, BTIG Research increased their price target on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $2,301.67.

MercadoLibre Stock Down 0.4 %

Shares of MercadoLibre stock opened at $2,047.35 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26. The company has a 50-day moving average of $2,047.08 and a 200 day moving average of $1,783.71. The firm has a market cap of $103.80 billion, a price-to-earnings ratio of 73.99, a PEG ratio of 1.26 and a beta of 1.61. MercadoLibre, Inc. has a 1 year low of $1,162.73 and a 1 year high of $2,161.73.

MercadoLibre (NASDAQ:MELI) last issued its quarterly 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 company had revenue of $5.07 billion during 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 quarterly revenue was up 41.5% compared to the same quarter last year. During the same period last year, the business earned $5.16 EPS. As a group, sell-side analysts anticipate that MercadoLibre, Inc. will post 37.55 earnings per share for the current fiscal year.

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.