L. Roy Papp & Associates LLP Invests $205,000 in MercadoLibre, Inc. (NASDAQ:MELI)

by · The Markets Daily

L. Roy Papp & Associates LLP acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI – Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 100 shares of the company’s stock, valued at approximately $205,000.

Several other institutional investors and hedge funds have also bought and sold shares of MELI. GQG Partners LLC lifted its position in shares of MercadoLibre by 442.2% during the 1st quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock valued at $1,201,679,000 after buying an additional 648,198 shares during the last quarter. International Assets Investment Management LLC lifted its holdings 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 valued at $509,506,000 after purchasing an additional 248,181 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in MercadoLibre by 43.2% during 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 during the period. Strategic Financial Concepts LLC purchased a new position in shares of MercadoLibre in the second quarter worth about $2,913,000. Finally, 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. 87.62% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Raymond James initiated coverage on shares of MercadoLibre in a report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price objective for the company. Morgan Stanley raised their price target on MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. StockNews.com lowered MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Bank of America raised their target price on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Finally, Dbs Bank upgraded MercadoLibre from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 11th. Three equities 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $2,301.67.

Read Our Latest Stock Analysis on MELI

MercadoLibre Price Performance

Shares of NASDAQ MELI traded down $8.58 during mid-day trading on Friday, reaching $2,047.35. 217,376 shares of the company were exchanged, compared to its average volume of 345,964. MercadoLibre, Inc. has a 52 week low of $1,162.73 and a 52 week high of $2,161.73. The company’s 50 day moving average price is $2,047.08 and its 200 day moving average price is $1,783.71. The stock has a market capitalization of $103.80 billion, a PE ratio of 73.99, a PEG ratio of 1.26 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 (NASDAQ:MELI – Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.53 by $1.95. The firm had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.64 billion. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The company’s revenue was up 41.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.16 earnings per share. Sell-side analysts forecast that MercadoLibre, Inc. will post 37.55 earnings per share for the current fiscal year.

About MercadoLibre

(Free Report)

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.

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