Mercadolibre (MELI) Sees Unusually-High Trading Volume on Analyst Upgrade

Shares of Mercadolibre Inc (NASDAQ:MELI) saw strong trading volume on Monday after Stifel Nicolaus raised their price target on the stock from $500.00 to $560.00. Stifel Nicolaus currently has a hold rating on the stock. 10,033 shares changed hands during trading, a decline of 98% from the previous session’s volume of 465,327 shares.The stock last traded at $566.07 and had previously closed at $578.94.

Other research analysts have also recently issued research reports about the company. Susquehanna Bancshares raised Mercadolibre from a “negative” rating to a “neutral” rating in a research note on Friday.
BTIG Research reiterated a “buy” rating and issued a $410.00 price target on shares of Mercadolibre in a research report on Wednesday, January 16th. BidaskClub lowered Mercadolibre from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Piper Jaffray Companies increased their price target on Mercadolibre from $442.00 to $504.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Finally, Deutsche Bank upgraded Mercadolibre from a “hold” rating to a “buy” rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Mercadolibre has an average rating of “Hold” and a consensus target price of $467.25.

In related news, Director Emiliano Calemzuk purchased 120 shares of the firm’s stock in a transaction that occurred on Saturday, March 9th. The stock was acquired at an average price of $414.14 per share, for a total transaction of $49,696.80. Following the transaction, the director now directly owns 2,669 shares of the company’s stock, valued at approximately $1,105,339.66. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.32% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Baillie Gifford & Co. raised its stake in shares of Mercadolibre by 2.3% during the 4th quarter. Baillie Gifford & Co. now owns 5,208,620 shares of the company’s stock worth $1,525,344,000 after purchasing an additional 117,948 shares in the last quarter. FMR LLC raised its stake in shares of Mercadolibre by 11.3% during the 4th quarter. FMR LLC now owns 1,017,995 shares of the company’s stock worth $298,119,000 after purchasing an additional 103,215 shares in the last quarter. Norges Bank purchased a new stake in shares of Mercadolibre during the 4th quarter worth about $110,161,000. WCM Investment Management LLC raised its stake in shares of Mercadolibre by 8.2% during the 4th quarter. WCM Investment Management LLC now owns 347,514 shares of the company’s stock worth $101,770,000 after purchasing an additional 26,481 shares in the last quarter. Finally, Jennison Associates LLC raised its stake in shares of Mercadolibre by 15.5% during the 4th quarter. Jennison Associates LLC now owns 330,660 shares of the company’s stock worth $96,834,000 after purchasing an additional 44,327 shares in the last quarter. 91.14% of the stock is owned by hedge funds and other institutional investors.

The company has a debt-to-equity ratio of 1.79, a current ratio of 1.30 and a quick ratio of 1.29. The company has a market capitalization of $28.67 billion, a price-to-earnings ratio of -692.30 and a beta of 2.14.

Mercadolibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.14. Mercadolibre had a negative return on equity of 13.47% and a negative net margin of 2.54%. The company had revenue of $474.00 million during the quarter, compared to the consensus estimate of $423.19 million. During the same period last year, the business earned ($0.29) EPS. The business’s quarterly revenue was up 47.7% on a year-over-year basis. On average, sell-side analysts predict that Mercadolibre Inc will post 0.31 EPS for the current year.

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About Mercadolibre (NASDAQ:MELI)

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, 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, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.

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