JGP Global Gestao de Recursos Ltda. grew its stake in Mercadolibre Inc (NASDAQ:MELI) by 24.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,360 shares of the company’s stock after buying an additional 7,260 shares during the period. Mercadolibre accounts for about 9.0% of JGP Global Gestao de Recursos Ltda.’s holdings, making the stock its biggest holding. JGP Global Gestao de Recursos Ltda.’s holdings in Mercadolibre were worth $22,856,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. NEXT Financial Group Inc increased its stake in shares of Mercadolibre by 104.3% in the second quarter. NEXT Financial Group Inc now owns 47 shares of the company’s stock valued at $29,000 after buying an additional 24 shares during the period. CENTRAL TRUST Co increased its stake in shares of Mercadolibre by 62.5% in the second quarter. CENTRAL TRUST Co now owns 52 shares of the company’s stock valued at $33,000 after buying an additional 20 shares during the period. Harvest Group Wealth Management LLC acquired a new stake in shares of Mercadolibre in the first quarter valued at about $28,000. Icon Wealth Partners LLC acquired a new stake in shares of Mercadolibre in the first quarter valued at about $32,000. Finally, Shine Investment Advisory Services Inc. acquired a new stake in shares of Mercadolibre in the first quarter valued at about $34,000. 84.72% of the stock is owned by institutional investors.
NASDAQ MELI traded up $0.36 during trading hours on Wednesday, hitting $634.14. 7,550 shares of the company’s stock were exchanged, compared to its average volume of 437,510. The firm has a 50-day moving average of $630.66. Mercadolibre Inc has a 1-year low of $257.52 and a 1-year high of $672.55. The stock has a market cap of $31.22 billion, a price-to-earnings ratio of -772.88 and a beta of 1.78. The company has a current ratio of 2.82, a quick ratio of 2.82 and a debt-to-equity ratio of 0.34.
Several brokerages have recently weighed in on MELI. Barclays cut Barrick Gold from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $15.00 to $18.00 in a research note on Tuesday, July 16th. BTIG Research cut Mercadolibre from a “buy” rating to a “neutral” rating and set a $561.01 price target for the company. in a research note on Tuesday, June 4th. Stifel Nicolaus set a $95.00 target price on C.H. Robinson Worldwide and gave the stock a “buy” rating in a research note on Friday, May 3rd. JPMorgan Chase & Co. set a €54.00 ($62.79) target price on Axel Springer and gave the stock a “neutral” rating in a research note on Tuesday, April 23rd. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a GBX 2,012 ($26.29) target price on shares of Aston Martin Lagonda Global in a research note on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. Mercadolibre currently has a consensus rating of “Hold” and an average price target of $547.38.
MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, 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, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.
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