Silvant Capital Management LLC Purchases 73 Shares of MercadoLibre, Inc. $MELI

Silvant Capital Management LLC boosted its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 0.7% in the second quarter, Holdings Channel reports. The institutional investor owned 10,540 shares of the company’s stock after buying an additional 73 shares during the period. MercadoLibre accounts for approximately 1.0% of Silvant Capital Management LLC’s holdings, making the stock its 18th largest position. Silvant Capital Management LLC’s holdings in MercadoLibre were worth $27,548,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MELI. Brooklyn Investment Group raised its holdings in MercadoLibre by 650.0% during the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock worth $29,000 after purchasing an additional 13 shares during the last quarter. Twin Tree Management LP bought a new stake in MercadoLibre during the 1st quarter valued at $29,000. Saudi Central Bank acquired a new position in MercadoLibre during the first quarter worth $35,000. McIlrath & Eck LLC lifted its stake in shares of MercadoLibre by 375.0% in the first quarter. McIlrath & Eck LLC now owns 19 shares of the company’s stock valued at $37,000 after buying an additional 15 shares in the last quarter. Finally, Highline Wealth Partners LLC lifted its stake in shares of MercadoLibre by 366.7% in the second quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock valued at $37,000 after buying an additional 11 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on MELI shares. Weiss Ratings reissued a “buy (b-)” rating on shares of MercadoLibre in a research report on Friday, October 31st. Morgan Stanley increased their price objective on MercadoLibre from $2,850.00 to $2,950.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd. BTIG Research reiterated a “buy” rating and set a $2,750.00 price target on shares of MercadoLibre in a report on Friday, November 14th. Daiwa Capital Markets initiated coverage on MercadoLibre in a research report on Friday, August 1st. They issued a “buy” rating and a $3,000.00 price target for the company. Finally, Susquehanna cut their price objective on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a report on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $2,848.82.

MercadoLibre Stock Performance

Shares of MELI stock opened at $2,033.32 on Friday. The firm’s 50-day simple moving average is $2,192.26 and its two-hundred day simple moving average is $2,353.92. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22. The firm has a market cap of $103.08 billion, a price-to-earnings ratio of 49.62, a P/E/G ratio of 1.56 and a beta of 1.51. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $8.32 EPS for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). The company had revenue of $7.41 billion during the quarter, compared to the consensus estimate of $7.19 billion. MercadoLibre had a return on equity of 41.35% and a net margin of 7.93%.MercadoLibre’s revenue was up 39.5% on a year-over-year basis. During the same period in the previous year, the business earned $7.83 earnings per share. As a group, equities analysts forecast 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.