Van ECK Associates Corp Acquires 93,856 Shares of MercadoLibre, Inc. $MELI

Van ECK Associates Corp raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 2,855.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 97,143 shares of the company’s stock after buying an additional 93,856 shares during the quarter. Van ECK Associates Corp owned 0.19% of MercadoLibre worth $164,890,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Laurel Wealth Advisors LLC acquired a new position in shares of MercadoLibre during the 4th quarter valued at $26,000. Transamerica Financial Advisors LLC acquired a new stake in MercadoLibre in the fourth quarter worth $26,000. Purpose Unlimited Inc. bought a new stake in MercadoLibre in the fourth quarter valued at $28,000. Darwin Wealth Management LLC bought a new stake in MercadoLibre in the second quarter valued at $29,000. Finally, Wedbush Fund Advisers LLC acquired a new position in shares of MercadoLibre during the second quarter valued at about $29,000. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Trading Up 1.8%

NASDAQ:MELI opened at $1,966.25 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,548.50. The company has a market cap of $99.69 billion, a PE ratio of 53.47, a PEG ratio of 1.32 and a beta of 1.34. The firm has a 50-day moving average of $1,824.45 and a 200-day moving average of $1,772.36.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share for the quarter, beating the consensus estimate of $8.65 by $0.54. The business had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The firm’s revenue for the quarter was up 49.8% compared to the same quarter last year. During the same quarter last year, the firm earned $10.31 EPS. As a group, equities research analysts expect that MercadoLibre, Inc. will post 39.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MELI. Raymond James Financial set a $2,000.00 price objective on shares of MercadoLibre in a research report on Friday, May 8th. JPMorgan Chase & Co. boosted their target price on MercadoLibre from $1,900.00 to $2,150.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. UBS Group dropped their price target on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. Scotiabank cut their price target on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a report on Thursday, May 7th. Finally, Citigroup raised their price objective on MercadoLibre from $1,950.00 to $2,000.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $2,272.00.

About MercadoLibre

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.