Lake Street Advisors Group LLC Purchases Shares of 208 MercadoLibre, Inc. (NASDAQ:MELI)

Lake Street Advisors Group LLC acquired a new position in MercadoLibre, Inc. (NASDAQ:MELI) in the 3rd quarter, Holdings Channel reports. The firm acquired 208 shares of the company’s stock, valued at approximately $427,000.

Other hedge funds have also made changes to their positions in the company. Capital World Investors boosted its holdings in MercadoLibre by 12.7% in the 1st quarter. Capital World Investors now owns 845,749 shares of the company’s stock worth $1,278,738,000 after acquiring an additional 95,029 shares during the period. GQG Partners LLC boosted its stake in shares of MercadoLibre by 442.2% in the first quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock valued at $1,201,679,000 after purchasing an additional 648,198 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of MercadoLibre by 43.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock valued at $1,167,073,000 after purchasing an additional 232,787 shares during the period. Janus Henderson Group PLC grew its holdings 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. Finally, Legal & General Group Plc increased its stake in MercadoLibre by 3.6% during the 2nd quarter. Legal & General Group Plc now owns 323,570 shares of the company’s stock worth $531,755,000 after buying an additional 11,265 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $2,047.35 on Friday. MercadoLibre, Inc. has a 1-year low of $1,162.73 and a 1-year high of $2,161.73. The firm has a market capitalization of $103.80 billion, a PE ratio of 73.99, a P/E/G ratio of 1.26 and a beta of 1.61. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26. The business’s fifty day moving average price is $2,047.08 and its two-hundred day moving average price is $1,781.70.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $4.64 billion. During the same period last year, the firm posted $5.16 EPS. MercadoLibre’s quarterly revenue was up 41.5% compared to the same quarter last year. On average, research analysts expect that MercadoLibre, Inc. will post 37.55 EPS for the current year.

Analyst Ratings Changes

MELI has been the subject of several recent analyst reports. Bank of America raised their target price on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Cantor Fitzgerald restated an “overweight” rating and set a $2,530.00 price objective on shares of MercadoLibre in a report on Monday, October 7th. Raymond James assumed coverage on MercadoLibre in a research note on Friday, September 27th. They set an “outperform” rating and a $2,350.00 target price for the company. StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Finally, Barclays increased 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $2,301.67.

MercadoLibre 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.