MercadoLibre, Inc. $MELI Shares Acquired by Jain Global LLC

Jain Global LLC boosted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 747.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 15,815 shares of the company’s stock after buying an additional 13,949 shares during the period. Jain Global LLC’s holdings in MercadoLibre were worth $36,959,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of MELI. Hamilton Wealth LLC grew its stake in shares of MercadoLibre by 6.1% in the 3rd quarter. Hamilton Wealth LLC now owns 1,215 shares of the company’s stock worth $2,839,000 after purchasing an additional 70 shares during the last quarter. HighVista Strategies LLC bought a new stake in shares of MercadoLibre in the 3rd quarter worth approximately $1,168,000. Focus Partners Wealth lifted its stake in MercadoLibre by 57.8% during the third quarter. Focus Partners Wealth now owns 1,032 shares of the company’s stock valued at $2,412,000 after purchasing an additional 378 shares during the last quarter. Delta Global Management LP acquired a new stake in MercadoLibre during the third quarter valued at approximately $1,519,000. Finally, Dragoneer Investment Group LLC bought a new stake in MercadoLibre during the third quarter worth approximately $241,591,000. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Stock Performance

Shares of NASDAQ MELI opened at $1,670.00 on Monday. The business’s 50-day simple moving average is $1,996.22 and its 200-day simple moving average is $2,115.41. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.15 and a current ratio of 1.17. MercadoLibre, Inc. has a 52 week low of $1,631.18 and a 52 week high of $2,645.22. The firm has a market cap of $84.67 billion, a price-to-earnings ratio of 42.39, a P/E/G ratio of 0.89 and a beta of 1.48.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Tuesday, February 24th. The company reported $11.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.66 by ($0.63). MercadoLibre had a return on equity of 33.73% and a net margin of 6.91%.The company had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.45 billion. During the same period in the previous year, the company earned $12.61 EPS. The firm’s revenue for the quarter was up 44.6% compared to the same quarter last year. As a group, equities research analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on MELI shares. Itau BBA Securities reaffirmed an “outperform” rating on shares of MercadoLibre in a report on Wednesday, February 25th. Cantor Fitzgerald lowered their price target on MercadoLibre from $2,750.00 to $2,400.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. JPMorgan Chase & Co. lowered shares of MercadoLibre from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $2,650.00 to $2,100.00 in a research report on Thursday. Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “moderate buy” rating in a report on Tuesday, December 2nd. Finally, UBS Group lowered their target price on MercadoLibre from $2,900.00 to $2,700.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,725.33.

About MercadoLibre

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.