Americana Partners LLC Has $2 Million Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Americana Partners LLC increased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 11.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 972 shares of the company’s stock after buying an additional 102 shares during the period. Americana Partners LLC’s holdings in MercadoLibre were worth $1,995,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Raymond James & Associates lifted its holdings in shares of MercadoLibre by 4.8% in the second quarter. Raymond James & Associates now owns 34,840 shares of the company’s stock valued at $57,256,000 after purchasing an additional 1,604 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in MercadoLibre by 20.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,642 shares of the company’s stock worth $41,794,000 after acquiring an additional 4,658 shares during the period. Caprock Group LLC boosted its position in MercadoLibre by 143.7% in the second quarter. Caprock Group LLC now owns 580 shares of the company’s stock worth $955,000 after purchasing an additional 342 shares during the last quarter. Sarasin & Partners LLP grew its stake in MercadoLibre by 168.5% in the 2nd quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock valued at $74,622,000 after purchasing an additional 28,494 shares during the period. Finally, Privium Fund Management UK Ltd bought a new stake in shares of MercadoLibre during the 2nd quarter worth $875,000. 87.62% of the stock is owned by institutional investors.

MercadoLibre Stock Performance

Shares of MELI opened at $2,054.90 on Friday. MercadoLibre, Inc. has a 52-week low of $1,310.31 and a 52-week high of $2,161.73. The stock’s 50-day simple moving average is $2,050.38 and its 200 day simple moving average is $1,801.53. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. The stock has a market capitalization of $104.18 billion, a price-to-earnings ratio of 74.26, a price-to-earnings-growth ratio of 1.23 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. The firm had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The company’s revenue for the quarter was up 41.5% on a year-over-year basis. During the same period in the prior year, the firm posted $5.16 earnings per share. Research analysts forecast that MercadoLibre, Inc. will post 37.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MELI. The Goldman Sachs Group increased their price target on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Redburn Atlantic assumed coverage on shares of MercadoLibre in a research report on Friday, October 11th. They set a “buy” rating and a $2,800.00 target price for the company. Raymond James initiated coverage on shares of MercadoLibre in a research note on Friday, September 27th. They set an “outperform” rating and a $2,350.00 price target for the company. Morgan Stanley upped their price objective on MercadoLibre from $2,175.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Finally, JPMorgan Chase & Co. downgraded MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 target price for the company. in a research report on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and a consensus target price 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.