ProShare Advisors LLC Grows Holdings in MercadoLibre, Inc. $MELI

ProShare Advisors LLC raised its position in MercadoLibre, Inc. (NASDAQ:MELI) by 42.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 79,658 shares of the company’s stock after buying an additional 23,844 shares during the period. ProShare Advisors LLC owned about 0.16% of MercadoLibre worth $160,452,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Laurel Wealth Advisors LLC acquired a new stake in shares of MercadoLibre in the fourth quarter valued at about $26,000. Darwin Wealth Management LLC acquired a new stake in shares of MercadoLibre in the second quarter valued at about $29,000. Holos Integrated Wealth LLC acquired a new stake in shares of MercadoLibre in the fourth quarter valued at about $32,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of MercadoLibre in the third quarter valued at about $35,000. Finally, Cullen Frost Bankers Inc. grew its position in shares of MercadoLibre by 100.0% in the third quarter. Cullen Frost Bankers Inc. now owns 16 shares of the company’s stock valued at $37,000 after purchasing an additional 8 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Barclays dropped their target price on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. Jefferies Financial Group upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and dropped their target price for the company from $2,800.00 to $2,600.00 in a research report on Tuesday, April 7th. Wedbush dropped their target price on shares of MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. Scotiabank dropped their target price on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a research report on Thursday, May 7th. Finally, The Goldman Sachs Group set a $2,100.00 target price on shares of MercadoLibre in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus price target of $2,255.33.

MercadoLibre Stock Performance

MELI opened at $1,585.91 on Tuesday. The firm has a market capitalization of $80.40 billion, a PE ratio of 41.86, a PEG ratio of 0.95 and a beta of 1.41. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,645.22. The firm’s 50-day moving average price is $1,731.09 and its 200 day moving average price is $1,938.10. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, May 7th. The company reported $8.23 earnings per share for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). The business had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.29 billion. MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The business’s revenue was up 49.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $9.74 earnings per share. As a group, sell-side analysts expect that MercadoLibre, Inc. will post 40.97 EPS for the current fiscal year.

MercadoLibre Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.