Inspire Advisors LLC Acquires 90 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Inspire Advisors LLC raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 36.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 334 shares of the company’s stock after purchasing an additional 90 shares during the quarter. Inspire Advisors LLC’s holdings in MercadoLibre were worth $685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Capital World Investors grew its stake in shares of MercadoLibre by 12.7% during the 1st quarter. Capital World Investors now owns 845,749 shares of the company’s stock worth $1,278,738,000 after acquiring an additional 95,029 shares during the period. GQG Partners LLC boosted its position in 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 period. Price T Rowe Associates Inc. MD increased its stake in shares of MercadoLibre by 43.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock worth $1,167,073,000 after purchasing an additional 232,787 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of MercadoLibre by 55.8% in the first quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock valued at $557,225,000 after purchasing an additional 132,028 shares during the period. Finally, Legal & General Group Plc lifted its stake in shares of MercadoLibre by 3.6% during the 2nd quarter. Legal & General Group Plc now owns 323,570 shares of the company’s stock valued at $531,755,000 after buying an additional 11,265 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

MELI has been the subject of a number of recent research reports. BTIG Research lifted their price objective on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Redburn Atlantic assumed coverage on MercadoLibre in a research report on Friday, October 11th. They set a “buy” rating and a $2,800.00 target price on the stock. Citigroup increased their target price on MercadoLibre from $2,000.00 to $2,200.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Morgan Stanley increased their target price on MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Finally, Dbs Bank upgraded MercadoLibre from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 11th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and an average price target of $2,283.00.

MercadoLibre Stock Up 0.7 %

MELI opened at $2,079.79 on Friday. The stock has a market cap of $105.44 billion, a PE ratio of 93.06, a P/E/G ratio of 1.25 and a beta of 1.61. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. MercadoLibre, Inc. has a 52 week low of $1,141.04 and a 52 week high of $2,161.73. The business’s fifty day simple moving average is $2,034.69 and its 200 day simple moving average is $1,762.16.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, beating analysts’ consensus estimates of $8.53 by $1.95. The business had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $4.64 billion. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The firm’s revenue was up 41.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.16 earnings per share. As a group, research analysts expect that MercadoLibre, Inc. will post 37.55 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.