Gabelli Funds LLC Grows Position in MercadoLibre, Inc. $MELI

Gabelli Funds LLC boosted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 61.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 748 shares of the company’s stock after acquiring an additional 285 shares during the quarter. Gabelli Funds LLC’s holdings in MercadoLibre were worth $1,270,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MELI. Laurel Wealth Advisors LLC purchased a new position in shares of MercadoLibre during the fourth quarter worth approximately $26,000. Transamerica Financial Advisors LLC acquired a new position in shares of MercadoLibre in the 4th quarter valued at $26,000. Purpose Unlimited Inc. purchased a new stake in MercadoLibre in the 4th quarter valued at $28,000. Darwin Wealth Management LLC purchased a new stake in MercadoLibre in the 2nd quarter valued at $29,000. Finally, Curio Wealth LLC acquired a new stake in MercadoLibre during the 4th quarter worth $30,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $1,922.73 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10. The firm has a market cap of $97.48 billion, a price-to-earnings ratio of 52.29, a price-to-earnings-growth ratio of 1.32 and a beta of 1.34. The firm’s fifty day moving average price is $1,793.05 and its 200 day moving average price is $1,775.94. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,548.50.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $9.19 EPS for the quarter, topping analysts’ consensus estimates of $8.65 by $0.54. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The company had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.79 billion. During the same quarter in the prior year, the firm earned $10.31 EPS. MercadoLibre’s quarterly revenue was up 49.8% on a year-over-year basis. On average, sell-side analysts expect that MercadoLibre, Inc. will post 39.11 EPS for the current year.

Analyst Upgrades and Downgrades

MELI has been the topic of several research reports. Morgan Stanley lowered their price objective on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. JPMorgan Chase & Co. upped their target price on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. Barclays decreased their target price on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. Weiss Ratings reissued a “hold (c)” rating on shares of MercadoLibre in a report on Thursday, July 2nd. Finally, Daiwa Securities Group cut MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price target on the stock. in a research report on Friday, May 8th. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $2,272.00.

About MercadoLibre

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.