Inspire Investing LLC Has $3.51 Million Stock Position in MercadoLibre, Inc. $MELI

Inspire Investing LLC grew its position in MercadoLibre, Inc. (NASDAQ:MELI) by 313.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,341 shares of the company’s stock after acquiring an additional 1,017 shares during the quarter. Inspire Investing LLC’s holdings in MercadoLibre were worth $3,505,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Ninety One North America Inc. increased its holdings in shares of MercadoLibre by 21.5% during the 2nd quarter. Ninety One North America Inc. now owns 6,094 shares of the company’s stock valued at $15,927,000 after acquiring an additional 1,080 shares during the last quarter. Banco Santander S.A. increased its holdings in shares of MercadoLibre by 221.9% during the 1st quarter. Banco Santander S.A. now owns 2,746 shares of the company’s stock valued at $5,357,000 after acquiring an additional 1,893 shares during the last quarter. Stratos Investment Management LLC acquired a new position in shares of MercadoLibre during the 1st quarter valued at about $203,000. Vaughan Nelson Investment Management L.P. increased its holdings in shares of MercadoLibre by 8.5% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,257 shares of the company’s stock valued at $5,899,000 after acquiring an additional 177 shares during the last quarter. Finally, Bosman Wealth Management LLC increased its holdings in shares of MercadoLibre by 88.5% during the 2nd quarter. Bosman Wealth Management LLC now owns 1,001 shares of the company’s stock valued at $2,616,000 after acquiring an additional 470 shares during the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $2,133.67 on Friday. The business’s 50 day moving average price is $2,363.50 and its two-hundred day moving average price is $2,344.22. The company has a market cap of $108.18 billion, a PE ratio of 52.70, a price-to-earnings-growth ratio of 1.52 and a beta of 1.46. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. MercadoLibre, Inc. has a twelve month low of $1,646.00 and a twelve month high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $12.01 by ($1.70). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The firm had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.57 billion. During the same quarter in the prior year, the firm earned $10.48 EPS. The company’s revenue was up 33.8% on a year-over-year basis. On average, analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analyst Upgrades and Downgrades

MELI has been the subject of several recent analyst reports. Daiwa Capital Markets started coverage on MercadoLibre in a research note on Friday, August 1st. They set a “buy” rating and a $3,000.00 target price for the company. Weiss Ratings reissued a “buy (b)” rating on shares of MercadoLibre in a report on Wednesday. Jefferies Financial Group reaffirmed a “hold” rating and set a $2,800.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Barclays lowered their target price on MercadoLibre from $3,100.00 to $3,000.00 and set an “overweight” rating for the company in a research note on Wednesday, July 23rd. Finally, Citigroup lowered their target price on MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating for the company in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $2,815.29.

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.