MercadoLibre, Inc. (NASDAQ:MELI) Stock Position Lowered by Griffin Asset Management Inc.

Griffin Asset Management Inc. lowered its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,023 shares of the company’s stock after selling 30 shares during the quarter. Griffin Asset Management Inc.’s holdings in MercadoLibre were worth $4,151,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of MELI. GQG Partners LLC raised its holdings in shares of MercadoLibre by 442.2% in the 1st quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock worth $1,201,679,000 after purchasing an additional 648,198 shares in the last quarter. Price T Rowe Associates Inc. MD lifted 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 acquiring an additional 232,787 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of MercadoLibre during the 2nd quarter worth $2,913,000. Janus Henderson Group PLC grew its holdings in shares of MercadoLibre by 55.8% in the 1st quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock worth $557,225,000 after acquiring an additional 132,028 shares during the last quarter. Finally, Capital World Investors raised its position in shares of MercadoLibre by 12.7% during the first quarter. Capital World Investors now owns 845,749 shares of the company’s stock worth $1,278,738,000 after purchasing an additional 95,029 shares during the period. 87.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Susquehanna lifted their price target on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research note on Wednesday, August 28th. Raymond James began coverage on shares of MercadoLibre in a report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 target price for the company. Barclays boosted their price target on shares of MercadoLibre from $2,100.00 to $2,500.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Bank of America raised their price objective on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $2,530.00 target price on shares of MercadoLibre in a research note on Monday, October 7th. Three 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $2,283.00.

MercadoLibre Stock Down 2.2 %

Shares of MercadoLibre stock opened at $2,033.62 on Wednesday. The firm has a market cap of $103.10 billion, a price-to-earnings ratio of 90.99, a P/E/G ratio of 1.25 and a beta of 1.61. The stock has a 50-day simple moving average of $2,023.10 and a 200-day simple moving average of $1,754.14. MercadoLibre, Inc. has a 52-week low of $1,141.04 and a 52-week high of $2,161.73. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26.

MercadoLibre (NASDAQ:MELI) last posted its earnings results 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 net margin of 8.03% and a return on equity of 43.52%. The firm had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same period in the previous year, the company earned $5.16 earnings per share. The company’s revenue was up 41.5% compared to the same quarter last year. On average, equities research analysts expect that MercadoLibre, Inc. will post 37.55 earnings per share for the current fiscal 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.