Deltec Asset Management LLC Buys 255 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Deltec Asset Management LLC increased its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 14.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,970 shares of the company’s stock after buying an additional 255 shares during the period. Deltec Asset Management LLC’s holdings in MercadoLibre were worth $2,979,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Morgan Stanley increased its stake in shares of MercadoLibre by 10.2% in the 3rd quarter. Morgan Stanley now owns 2,558,467 shares of the company’s stock worth $3,243,832,000 after acquiring an additional 236,744 shares in the last quarter. WCM Investment Management LLC boosted its position in shares of MercadoLibre by 74.8% in the 4th quarter. WCM Investment Management LLC now owns 1,162,724 shares of the company’s stock worth $1,838,964,000 after purchasing an additional 497,535 shares in the last quarter. Capital International Investors boosted its position in shares of MercadoLibre by 0.4% in the 4th quarter. Capital International Investors now owns 1,037,070 shares of the company’s stock worth $1,630,740,000 after purchasing an additional 4,317 shares in the last quarter. Capital World Investors grew its stake in shares of MercadoLibre by 13.3% in the 4th quarter. Capital World Investors now owns 750,720 shares of the company’s stock worth $1,179,787,000 after buying an additional 88,359 shares during the last quarter. Finally, Norges Bank bought a new position in MercadoLibre during the 4th quarter valued at approximately $554,386,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Trading Down 1.1 %

NASDAQ MELI traded down $17.49 on Friday, hitting $1,643.40. 249,707 shares of the stock were exchanged, compared to its average volume of 280,272. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.25 and a current ratio of 1.27. MercadoLibre, Inc. has a 52-week low of $1,063.02 and a 52-week high of $1,825.00. The firm has a market capitalization of $83.32 billion, a P/E ratio of 73.53, a P/E/G ratio of 1.20 and a beta of 1.60. The stock has a fifty day moving average price of $1,616.76 and a two-hundred day moving average price of $1,607.24.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $6.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.64 by $0.14. The business had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $3.84 billion. MercadoLibre had a net margin of 7.17% and a return on equity of 39.46%. The firm’s quarterly revenue was up 36.0% compared to the same quarter last year. During the same quarter last year, the firm earned $3.97 earnings per share. Research analysts forecast that MercadoLibre, Inc. will post 33.81 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MELI. UBS Group reduced their price target on shares of MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. New Street Research lowered MercadoLibre from a “buy” rating to a “neutral” rating in a report on Friday, May 24th. Citigroup dropped their price objective on MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating on the stock in a research report on Wednesday, March 27th. Jefferies Financial Group upgraded MercadoLibre from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $1,400.00 to $2,100.00 in a report on Monday, May 20th. Finally, Barclays upped their target price on shares of MercadoLibre from $1,800.00 to $2,000.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,881.92.

About MercadoLibre

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.