Cetera Investment Advisers Raises Holdings in MercadoLibre, Inc. $MELI

Cetera Investment Advisers lifted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 13.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,951 shares of the company’s stock after buying an additional 817 shares during the quarter. Cetera Investment Advisers’ holdings in MercadoLibre were worth $18,168,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Jennison Associates LLC grew its holdings in MercadoLibre by 7.0% during the 2nd quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock worth $3,228,460,000 after acquiring an additional 81,124 shares in the last quarter. Invesco Ltd. raised its holdings in shares of MercadoLibre by 22.4% in the 1st quarter. Invesco Ltd. now owns 570,967 shares of the company’s stock valued at $1,113,881,000 after purchasing an additional 104,554 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of MercadoLibre by 21.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company’s stock worth $1,073,823,000 after purchasing an additional 96,283 shares during the period. Generation Investment Management LLP boosted its stake in shares of MercadoLibre by 3.3% during the first quarter. Generation Investment Management LLP now owns 530,564 shares of the company’s stock valued at $1,035,061,000 after purchasing an additional 16,878 shares in the last quarter. Finally, GQG Partners LLC boosted its stake in shares of MercadoLibre by 23.5% during the first quarter. GQG Partners LLC now owns 461,875 shares of the company’s stock valued at $901,058,000 after purchasing an additional 87,912 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MELI has been the subject of a number of recent research reports. BTIG Research reissued a “buy” rating and issued a $2,750.00 price objective on shares of MercadoLibre in a research note on Friday, November 14th. Weiss Ratings reiterated a “buy (b-)” rating on shares of MercadoLibre in a report on Friday, October 31st. Jefferies Financial Group restated a “hold” rating and set a $2,800.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. Susquehanna cut their target price on MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a research note on Monday, October 13th. Finally, JPMorgan Chase & Co. increased their price target on shares of MercadoLibre from $2,600.00 to $2,650.00 and gave the company a “neutral” rating in a research report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $2,854.71.

MercadoLibre Stock Performance

Shares of MELI stock opened at $2,058.81 on Wednesday. MercadoLibre, Inc. has a 12-month low of $1,646.00 and a 12-month high of $2,645.22. The business’s fifty day simple moving average is $2,244.58 and its 200-day simple moving average is $2,369.78. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. The company has a market cap of $104.38 billion, a PE ratio of 50.24, a PEG ratio of 1.56 and a beta of 1.51.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $8.32 earnings per share for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). MercadoLibre had a return on equity of 41.35% and a net margin of 7.93%.The business had revenue of $7.41 billion during the quarter, compared to analyst estimates of $7.19 billion. During the same period in the previous year, the business earned $7.83 EPS. The firm’s revenue for the quarter was up 39.5% compared to the same quarter last year. Analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

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.