Washington Trust Advisors Inc. Increases Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Washington Trust Advisors Inc. increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1,100.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 36 shares of the company’s stock after acquiring an additional 33 shares during the period. Washington Trust Advisors Inc.’s holdings in MercadoLibre were worth $73,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Raymond James & Associates grew its stake in MercadoLibre by 4.8% in the 2nd quarter. Raymond James & Associates now owns 34,840 shares of the company’s stock valued at $57,256,000 after acquiring an additional 1,604 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of MercadoLibre by 20.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,642 shares of the company’s stock worth $41,794,000 after acquiring an additional 4,658 shares in the last quarter. Caprock Group LLC lifted its holdings in shares of MercadoLibre by 143.7% during the 2nd quarter. Caprock Group LLC now owns 580 shares of the company’s stock valued at $955,000 after acquiring an additional 342 shares in the last quarter. Sarasin & Partners LLP boosted its position in MercadoLibre by 168.5% during the 2nd quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock worth $74,622,000 after purchasing an additional 28,494 shares during the period. Finally, Privium Fund Management UK Ltd acquired a new stake in MercadoLibre in the 2nd quarter valued at $875,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on MELI shares. JPMorgan Chase & Co. lowered MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 target price for the company. in a research note on Wednesday, October 2nd. Bank of America boosted their target price on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. StockNews.com downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Redburn Atlantic started coverage on MercadoLibre in a report on Friday, October 11th. They set a “buy” rating and a $2,800.00 price objective on the stock. Finally, Morgan Stanley increased their price objective on shares of MercadoLibre from $2,175.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $2,309.67.

MercadoLibre Stock Up 5.5 %

Shares of MercadoLibre stock opened at $1,872.01 on Friday. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,161.73. The stock has a market capitalization of $94.91 billion, a price-to-earnings ratio of 66.06, a PEG ratio of 1.30 and a beta of 1.61. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. The business’s 50 day simple moving average is $2,046.45 and its 200-day simple moving average is $1,822.55.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $7.83 earnings per share for the quarter, missing the consensus estimate of $11.27 by ($3.44). MercadoLibre had a net margin of 7.57% and a return on equity of 42.61%. The firm had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.25 billion. Equities research analysts forecast that MercadoLibre, Inc. will post 37.28 earnings per share 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.