L & S Advisors Inc Has $1.90 Million Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

L & S Advisors Inc decreased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 13.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,153 shares of the company’s stock after selling 172 shares during the quarter. L & S Advisors Inc’s holdings in MercadoLibre were worth $1,895,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MELI. GQG Partners LLC grew its holdings in shares of MercadoLibre by 442.2% during the first quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock worth $1,201,679,000 after purchasing an additional 648,198 shares during the last quarter. Norges Bank bought a new stake in MercadoLibre during the 4th quarter worth approximately $554,386,000. Price T Rowe Associates Inc. MD increased its position in MercadoLibre by 43.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock valued at $1,167,073,000 after acquiring an additional 232,787 shares during the period. Strategic Financial Concepts LLC bought a new position in shares of MercadoLibre during the second quarter valued at $2,913,000. Finally, Janus Henderson Group PLC lifted its holdings in shares of MercadoLibre by 55.8% during the first quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock worth $557,225,000 after purchasing an additional 132,028 shares during the period. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $2,105.51 on Tuesday. The firm has a market capitalization of $106.74 billion, a P/E ratio of 94.21, a P/E/G ratio of 1.33 and a beta of 1.61. The firm’s 50-day moving average price is $1,869.28 and its 200-day moving average price is $1,677.47. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. MercadoLibre, Inc. has a 1-year low of $1,141.04 and a 1-year high of $2,143.96.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The business had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same period in the prior year, the business earned $5.16 EPS. The firm’s revenue for the quarter was up 41.5% on a year-over-year basis. Equities research analysts anticipate that MercadoLibre, Inc. will post 35.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MELI. JPMorgan Chase & Co. increased their price objective on MercadoLibre from $2,150.00 to $2,400.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. BTIG Research lifted their price objective on MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. StockNews.com downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. The Goldman Sachs Group boosted their price target on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, Bank of America increased their price objective on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $2,182.92.

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.