HighVista Strategies LLC Makes New $1.17 Million Investment in MercadoLibre, Inc. $MELI

HighVista Strategies LLC bought a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELIFree Report) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 500 shares of the company’s stock, valued at approximately $1,168,000.

Other institutional investors have also recently made changes to their positions in the company. Darwin Wealth Management LLC purchased a new position in shares of MercadoLibre in the second quarter worth $29,000. Steigerwald Gordon & Koch Inc. bought a new position in shares of MercadoLibre during the 3rd quarter valued at approximately $35,000. Cullen Frost Bankers Inc. lifted its position in MercadoLibre by 100.0% during the third quarter. Cullen Frost Bankers Inc. now owns 16 shares of the company’s stock valued at $37,000 after purchasing an additional 8 shares during the last quarter. Rothschild Investment LLC grew its position in MercadoLibre by 35.7% in the third quarter. Rothschild Investment LLC now owns 19 shares of the company’s stock worth $44,000 after acquiring an additional 5 shares in the last quarter. Finally, Abich Financial Wealth Management LLC bought a new position in shares of MercadoLibre during the 3rd quarter valued at approximately $47,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

MELI stock opened at $1,670.00 on Monday. MercadoLibre, Inc. has a one year low of $1,631.18 and a one year high of $2,645.22. The firm has a market cap of $84.67 billion, a price-to-earnings ratio of 42.39, a PEG ratio of 0.89 and a beta of 1.48. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.15 and a current ratio of 1.17. The firm has a 50-day simple moving average of $1,996.22 and a two-hundred day simple moving average of $2,115.41.

MercadoLibre (NASDAQ:MELIGet Free Report) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $11.03 EPS for the quarter, missing the consensus estimate of $11.66 by ($0.63). The firm had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.45 billion. MercadoLibre had a return on equity of 33.73% and a net margin of 6.91%.The company’s revenue was up 44.6% compared to the same quarter last year. During the same quarter last year, the firm earned $12.61 EPS. On average, equities analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on MELI. JPMorgan Chase & Co. cut MercadoLibre from an “overweight” rating to a “neutral” rating and cut their target price for the company from $2,650.00 to $2,100.00 in a research note on Thursday. Wedbush reduced their price target on shares of MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. Itau BBA Securities reaffirmed an “outperform” rating on shares of MercadoLibre in a research report on Wednesday, February 25th. BTIG Research decreased their target price on MercadoLibre from $2,750.00 to $2,650.00 and set a “buy” rating for the company in a research report on Wednesday, February 25th. Finally, UBS Group decreased their price objective on MercadoLibre from $2,900.00 to $2,700.00 and set a “buy” rating for the company in a report on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $2,725.33.

Read Our Latest Stock Analysis on MELI

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MercadoLibre Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)

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