Entropy Technologies LP Has $7.32 Million Stock Holdings in MercadoLibre, Inc. $MELI

Entropy Technologies LP reduced its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 49.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,802 shares of the company’s stock after selling 2,795 shares during the quarter. Entropy Technologies LP’s holdings in MercadoLibre were worth $7,323,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Invesco Ltd. grew its stake in MercadoLibre by 22.4% during the first quarter. Invesco Ltd. now owns 570,967 shares of the company’s stock worth $1,113,881,000 after buying an additional 104,554 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of MercadoLibre by 21.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company’s stock worth $1,073,823,000 after acquiring an additional 96,283 shares during the period. GQG Partners LLC lifted its holdings in shares of MercadoLibre by 23.5% during the 1st quarter. GQG Partners LLC now owns 461,875 shares of the company’s stock worth $901,058,000 after acquiring an additional 87,912 shares during the period. Jennison Associates LLC boosted its position in shares of MercadoLibre by 7.0% during the 2nd quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock worth $3,228,460,000 after acquiring an additional 81,124 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new position in MercadoLibre in the second quarter valued at approximately $198,244,000. Institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on MELI. BTIG Research restated a “buy” rating and set a $2,750.00 target price on shares of MercadoLibre in a research note on Friday, November 14th. Jefferies Financial Group restated a “hold” rating and set a $2,800.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 5th. Citigroup decreased their target price on MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating on the stock in a research report on Thursday, October 9th. JPMorgan Chase & Co. increased their target price on shares of MercadoLibre from $2,600.00 to $2,650.00 and gave the stock a “neutral” rating in a report on Monday, November 3rd. Finally, Wedbush raised their price target on shares of MercadoLibre from $2,700.00 to $2,800.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $2,854.71.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $1,899.75 on Friday. The stock’s 50-day moving average is $2,230.37 and its 200-day moving average is $2,364.48. MercadoLibre, Inc. has a 1-year low of $1,646.00 and a 1-year high of $2,645.22. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. The stock has a market cap of $96.31 billion, a P/E ratio of 46.36, a price-to-earnings-growth ratio of 1.56 and a beta of 1.51.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Wednesday, October 29th. The company reported $8.32 EPS for the quarter, missing the consensus estimate of $9.88 by ($1.56). MercadoLibre had a return on equity of 41.35% and a net margin of 7.93%.The business had revenue of $7.41 billion for the quarter, compared to analyst estimates of $7.19 billion. During the same quarter in the prior year, the business earned $7.83 earnings per share. The firm’s quarterly revenue was up 39.5% on a year-over-year basis. Equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

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.