MercadoLibre, Inc. (NASDAQ:MELI) Shares Bought by IFM Investors Pty Ltd

IFM Investors Pty Ltd grew its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 2.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,590 shares of the company’s stock after acquiring an additional 205 shares during the period. IFM Investors Pty Ltd’s holdings in MercadoLibre were worth $19,678,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. GQG Partners LLC increased its stake 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. International Assets Investment Management LLC increased its stake in shares of MercadoLibre by 205,108.3% during the third quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock valued at $509,506,000 after acquiring an additional 248,181 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in MercadoLibre by 43.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock worth $1,167,073,000 after purchasing an additional 232,787 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in MercadoLibre in the second quarter worth approximately $2,913,000. Finally, Janus Henderson Group PLC boosted its stake 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 purchasing an additional 132,028 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

MELI has been the topic of a number of research reports. StockNews.com downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Susquehanna increased their price objective on MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. cut MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 target price on the stock. in a report on Wednesday, October 2nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $2,530.00 price target on shares of MercadoLibre in a research report on Monday, October 7th. Finally, Barclays upped their price objective on shares of MercadoLibre from $2,100.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $2,301.67.

MercadoLibre Price Performance

Shares of MercadoLibre stock traded up $18.20 during midday trading on Thursday, reaching $2,056.90. The company had a trading volume of 49,222 shares, compared to its average volume of 346,193. 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 stock has a fifty day simple moving average of $2,044.50 and a 200 day simple moving average of $1,775.88. MercadoLibre, Inc. has a 1-year low of $1,162.73 and a 1-year high of $2,161.73. The company has a market capitalization of $104.28 billion, a price-to-earnings ratio of 91.45, a price-to-earnings-growth ratio of 1.25 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $4.64 billion. During the same period last year, the firm earned $5.16 EPS. The business’s revenue for the quarter was up 41.5% on a year-over-year basis. As a group, equities research analysts forecast that MercadoLibre, Inc. will post 37.55 earnings per share for the current 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.