Americana Partners LLC Grows Position in MercadoLibre, Inc. (NASDAQ:MELI)

Americana Partners LLC lifted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 11.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 972 shares of the company’s stock after purchasing an additional 102 shares during the quarter. Americana Partners LLC’s holdings in MercadoLibre were worth $1,995,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Norden Group LLC bought a new position in shares of MercadoLibre in the 1st quarter worth $293,000. Private Advisor Group LLC raised its position in MercadoLibre by 4.5% during the first quarter. Private Advisor Group LLC now owns 554 shares of the company’s stock valued at $838,000 after purchasing an additional 24 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in MercadoLibre by 8.4% during the first quarter. Janney Montgomery Scott LLC now owns 5,326 shares of the company’s stock worth $8,053,000 after purchasing an additional 414 shares during the last quarter. Moloney Securities Asset Management LLC boosted its holdings in shares of MercadoLibre by 46.3% in the 1st quarter. Moloney Securities Asset Management LLC now owns 398 shares of the company’s stock worth $602,000 after purchasing an additional 126 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its position in shares of MercadoLibre by 11.1% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,228 shares of the company’s stock valued at $1,857,000 after purchasing an additional 123 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on MELI. Raymond James started coverage on MercadoLibre in a research report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 target price for the company. Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 11th. Redburn Atlantic started coverage on shares of MercadoLibre in a report on Friday, October 11th. They set a “buy” rating and a $2,800.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $2,530.00 price target on shares of MercadoLibre in a research note on Monday, October 7th. Finally, StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and an average target price of $2,301.67.

MercadoLibre Price Performance

Shares of MercadoLibre stock opened at $2,054.90 on Friday. The business has a 50 day moving average of $2,050.38 and a 200 day moving average of $1,801.53. MercadoLibre, Inc. has a 52 week low of $1,310.31 and a 52 week high of $2,161.73. The company has a market cap of $104.18 billion, a PE ratio of 74.26, a P/E/G ratio of 1.23 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) last issued its quarterly earnings data on Thursday, August 1st. The company reported $10.48 EPS for the quarter, topping the consensus estimate of $8.53 by $1.95. The business had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The company’s revenue for the quarter was up 41.5% on a year-over-year basis. During the same period in the prior year, the business earned $5.16 EPS. As a group, equities research analysts forecast that MercadoLibre, Inc. will post 37.7 earnings per share for the current year.

About MercadoLibre

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.