Deepwater Asset Management LLC Has $14.23 Million Position in MercadoLibre, Inc. (NASDAQ:MELI)

Deepwater Asset Management LLC lifted its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 14.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,409 shares of the company’s stock after purchasing an additional 1,188 shares during the quarter. MercadoLibre accounts for about 5.4% of Deepwater Asset Management LLC’s investment portfolio, making the stock its 9th biggest holding. Deepwater Asset Management LLC’s holdings in MercadoLibre were worth $14,226,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. WCM Investment Management LLC lifted its holdings in shares of MercadoLibre by 74.8% during the 4th quarter. WCM Investment Management LLC now owns 1,162,724 shares of the company’s stock valued at $1,838,964,000 after buying an additional 497,535 shares during the period. Norges Bank purchased a new stake in shares of MercadoLibre during the 4th quarter valued at about $554,386,000. Morgan Stanley lifted its stake in shares of MercadoLibre by 10.2% in the 3rd quarter. Morgan Stanley now owns 2,558,467 shares of the company’s stock worth $3,243,832,000 after purchasing an additional 236,744 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of MercadoLibre by 112,333.8% in the fourth quarter. International Assets Investment Management LLC now owns 146,164 shares of the company’s stock worth $229,703,000 after buying an additional 146,034 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in MercadoLibre by 1,432.2% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 127,355 shares of the company’s stock valued at $200,140,000 after buying an additional 119,043 shares during the period. 87.62% of the stock is owned by institutional investors.

MercadoLibre Trading Up 0.1 %

Shares of MercadoLibre stock traded up $2.15 on Tuesday, reaching $1,599.75. The company had a trading volume of 104,285 shares, compared to its average volume of 374,608. The firm’s 50-day moving average price is $1,616.76 and its two-hundred day moving average price is $1,607.24. MercadoLibre, Inc. has a 1 year low of $1,063.02 and a 1 year high of $1,825.00. The firm has a market cap of $81.11 billion, a price-to-earnings ratio of 70.96, a P/E/G ratio of 1.20 and a beta of 1.60. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.27 and a quick ratio of 1.25.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $6.78 EPS for the quarter, beating the consensus estimate of $6.64 by $0.14. MercadoLibre had a net margin of 7.17% and a return on equity of 39.46%. The company had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $3.84 billion. During the same period in the prior year, the firm posted $3.97 EPS. The firm’s revenue was up 36.0% compared to the same quarter last year. As a group, research analysts predict that MercadoLibre, Inc. will post 33.81 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Jefferies Financial Group upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and increased their price target for the stock from $1,400.00 to $2,100.00 in a research report on Monday, May 20th. UBS Group cut their price target on MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. DZ Bank raised MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price objective on the stock in a research report on Tuesday, April 23rd. Barclays raised their target price on shares of MercadoLibre from $1,800.00 to $2,000.00 and gave the stock an “overweight” rating in a research note on Monday, May 13th. Finally, New Street Research downgraded shares of MercadoLibre from a “buy” rating to a “neutral” rating in a report on Friday, May 24th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,881.92.

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.