M&G Plc Invests $9.72 Million in MercadoLibre, Inc. (NASDAQ:MELI)

M&G Plc bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,737 shares of the company’s stock, valued at approximately $9,720,000.

Other hedge funds have also recently added to or reduced their stakes in the company. GQG Partners LLC boosted its position in shares of MercadoLibre by 442.2% in the first quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock worth $1,201,679,000 after acquiring an additional 648,198 shares during the last quarter. International Assets Investment Management LLC raised its stake in MercadoLibre by 205,108.3% during the third quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock worth $509,506,000 after purchasing an additional 248,181 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of 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 purchasing an additional 232,787 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of MercadoLibre during the 2nd quarter valued at $2,913,000. Finally, Janus Henderson Group PLC raised its position in shares of MercadoLibre by 55.8% in the 1st quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock worth $557,225,000 after buying an additional 132,028 shares during the period. 87.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on MELI. BTIG Research dropped their price target on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research note on Thursday. Bank of America raised their price target on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a report on Thursday, September 12th. Redburn Atlantic assumed coverage on shares of MercadoLibre in a research note on Friday, October 11th. They set a “buy” rating and a $2,800.00 price objective for the company. StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Finally, Raymond James began coverage on MercadoLibre in a report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price target for the company. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $2,309.67.

MercadoLibre Stock Down 16.2 %

MELI stock opened at $1,774.05 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. The firm has a 50 day simple moving average of $2,055.08 and a 200-day simple moving average of $1,819.36. The company has a market capitalization of $89.94 billion, a P/E ratio of 64.11, a PEG ratio of 1.26 and a beta of 1.61. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,161.73.

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

MercadoLibre Company 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.