Bensler LLC Increases Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Bensler LLC raised its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 3.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 4,581 shares of the company’s stock after buying an additional 133 shares during the quarter. MercadoLibre accounts for approximately 1.2% of Bensler LLC’s investment portfolio, making the stock its 29th biggest holding. Bensler LLC’s holdings in MercadoLibre were worth $9,401,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Raymond James & Associates increased its stake in MercadoLibre by 4.8% in the second quarter. Raymond James & Associates now owns 34,840 shares of the company’s stock valued at $57,256,000 after purchasing an additional 1,604 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of MercadoLibre by 20.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,642 shares of the company’s stock worth $41,794,000 after buying an additional 4,658 shares during the last quarter. Caprock Group LLC boosted its holdings in shares of MercadoLibre by 143.7% in the 2nd quarter. Caprock Group LLC now owns 580 shares of the company’s stock valued at $955,000 after buying an additional 342 shares in the last quarter. Sarasin & Partners LLP grew its position in shares of MercadoLibre by 168.5% in the 2nd quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock valued at $74,622,000 after buying an additional 28,494 shares during the last quarter. Finally, Privium Fund Management UK Ltd purchased a new position in shares of MercadoLibre in the 2nd quarter valued at $875,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

MercadoLibre stock opened at $1,774.05 on Friday. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73. The company has a market capitalization of $89.94 billion, a price-to-earnings ratio of 64.11, a PEG ratio of 1.26 and a beta of 1.61. The stock has a fifty day moving average of $2,055.08 and a two-hundred day moving average of $1,819.36. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $7.83 EPS for the quarter, missing analysts’ consensus estimates of $11.27 by ($3.44). MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The company had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.25 billion. On average, analysts anticipate that MercadoLibre, Inc. will post 37.7 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on MELI shares. Raymond James initiated coverage on shares of MercadoLibre in a research note on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price objective for the company. Citigroup upped their target price on MercadoLibre from $2,200.00 to $2,480.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. downgraded MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 price target on the stock. in a research note on Wednesday, October 2nd. Susquehanna boosted their price objective on MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research note on Wednesday, August 28th. Finally, BTIG Research decreased their price objective on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a report on Thursday. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $2,309.67.

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.