Vontobel Holding Ltd. increased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI – Get Rating) by 55.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,265 shares of the company’s stock after buying an additional 4,397 shares during the period. Vontobel Holding Ltd.’s holdings in MercadoLibre were worth $16,166,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently made changes to their positions in MELI. Amalgamated Bank lifted its holdings in MercadoLibre by 93.8% in the 3rd quarter. Amalgamated Bank now owns 31 shares of the company’s stock valued at $26,000 after purchasing an additional 15 shares in the last quarter. CVA Family Office LLC lifted its holdings in MercadoLibre by 3,600.0% in the 3rd quarter. CVA Family Office LLC now owns 37 shares of the company’s stock valued at $31,000 after purchasing an additional 36 shares in the last quarter. Pacifica Partners Inc. purchased a new position in MercadoLibre in the 1st quarter valued at $31,000. Hollencrest Capital Management purchased a new position in MercadoLibre in the 4th quarter valued at $32,000. Finally, Sonnipe Ltd purchased a new position in MercadoLibre in the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 80.67% of the company’s stock.
Wall Street Analyst Weigh In
MELI has been the subject of a number of recent research reports. Morgan Stanley raised their target price on MercadoLibre from $1,620.00 to $1,770.00 in a research note on Friday, March 31st. Citigroup raised their target price on MercadoLibre from $1,460.00 to $1,500.00 in a research note on Thursday, June 8th. JPMorgan Chase & Co. raised their target price on MercadoLibre from $1,600.00 to $1,700.00 in a research note on Monday, May 8th. StockNews.com initiated coverage on MercadoLibre in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Finally, New Street Research downgraded MercadoLibre from a “buy” rating to a “neutral” rating and set a $1,350.00 target price for the company. in a research note on Thursday, April 6th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average target price of $1,484.50.
MercadoLibre Stock Down 1.2 %
MercadoLibre (NASDAQ:MELI – Get Rating) last announced its earnings results on Wednesday, May 3rd. The company reported $3.97 EPS for the quarter, beating analysts’ consensus estimates of $3.04 by $0.93. MercadoLibre had a return on equity of 34.92% and a net margin of 5.46%. The company had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $2.88 billion. During the same period last year, the business posted $1.30 EPS. MercadoLibre’s revenue for the quarter was up 35.1% on a year-over-year basis. Sell-side analysts expect that MercadoLibre, Inc. will post 16.68 EPS for the current year.
MercadoLibre Profile
MercadoLibre, Inc operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; 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.
Further Reading
- Get a free research report on MercadoLibre from StockNews.com
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