MayTech Global Investments LLC Raises Stake in Mercadolibre Inc (MELI)

MayTech Global Investments LLC lifted its position in Mercadolibre Inc (NASDAQ:MELI) by 6.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,376 shares of the company’s stock after acquiring an additional 1,214 shares during the quarter. Mercadolibre accounts for approximately 3.5% of MayTech Global Investments LLC’s holdings, making the stock its 14th largest position. MayTech Global Investments LLC’s holdings in Mercadolibre were worth $7,278,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of MELI. Steward Partners Investment Advisory LLC lifted its holdings in shares of Mercadolibre by 79.7% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 408 shares of the company’s stock worth $139,000 after purchasing an additional 181 shares during the last quarter. Wagner Bowman Management Corp bought a new stake in Mercadolibre during the 3rd quarter valued at $214,000. FDx Advisors Inc. bought a new stake in Mercadolibre during the 3rd quarter valued at $216,000. Financial Gravity Wealth Inc. raised its stake in Mercadolibre by 151.3% during the 3rd quarter. Financial Gravity Wealth Inc. now owns 671 shares of the company’s stock valued at $193,000 after acquiring an additional 404 shares in the last quarter. Finally, Harbour Capital Advisors LLC bought a new stake in Mercadolibre during the 3rd quarter valued at $234,000. Institutional investors own 91.40% of the company’s stock.

MELI has been the topic of several recent analyst reports. BidaskClub downgraded Mercadolibre from a “hold” rating to a “sell” rating in a research note on Tuesday, August 21st. Zacks Investment Research raised Mercadolibre from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 23rd. Credit Suisse Group cut their target price on Mercadolibre from $425.00 to $420.00 and set an “outperform” rating on the stock in a research note on Thursday, August 9th. Barclays lifted their target price on Mercadolibre from $360.00 to $370.00 and gave the company an “overweight” rating in a research note on Friday, November 2nd. Finally, Stifel Nicolaus lifted their target price on Mercadolibre from $360.00 to $380.00 and gave the company a “hold” rating in a research note on Thursday, August 9th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Mercadolibre currently has a consensus rating of “Buy” and an average target price of $362.62.

Shares of MELI stock opened at $309.82 on Monday. Mercadolibre Inc has a 1 year low of $263.71 and a 1 year high of $417.91. The firm has a market cap of $14.00 billion, a PE ratio of 122.46 and a beta of 1.96. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.61 and a current ratio of 1.62.

Mercadolibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, November 1st. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.13). Mercadolibre had a negative net margin of 7.04% and a negative return on equity of 9.47%. The firm had revenue of $355.30 million for the quarter, compared to analyst estimates of $352.75 million. During the same quarter last year, the business posted $0.63 earnings per share. The firm’s revenue for the quarter was up 16.5% compared to the same quarter last year. As a group, research analysts expect that Mercadolibre Inc will post -0.99 earnings per share for the current year.

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Mercadolibre Profile

MercadoLibre, Inc hosts online commerce platforms in Latin America. It offers MercadoLibre Marketplace, an automated online commerce service for businesses and individuals to list items and conduct their sales and purchases online in a fixed-price or auction-based format. The company's Marketplace platform enables commerce through online classifieds for motor vehicles, vessels, aircraft, services, and real estate; and Internet users to browse through various products that are listed on its Website and to register with MercadoLibre to list and purchase items and services.

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Institutional Ownership by Quarter for Mercadolibre (NASDAQ:MELI)

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