Saudi Central Bank Has $5.42 Million Stake in MercadoLibre, Inc. $MELI

Saudi Central Bank raised its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 89.7% in the second quarter, Holdings Channel reports. The fund owned 3,194 shares of the company’s stock after purchasing an additional 1,510 shares during the quarter. Saudi Central Bank’s holdings in MercadoLibre were worth $5,421,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in MELI. Brown Advisory Inc. grew its stake in shares of MercadoLibre by 2,494.9% during the fourth quarter. Brown Advisory Inc. now owns 15,362 shares of the company’s stock worth $30,943,000 after buying an additional 14,770 shares during the last quarter. Thompson Siegel & Walmsley LLC increased its holdings in shares of MercadoLibre by 238.3% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,030 shares of the company’s stock worth $4,089,000 after buying an additional 1,430 shares in the last quarter. TIAA Trust National Association lifted its stake in shares of MercadoLibre by 10.9% in the 4th quarter. TIAA Trust National Association now owns 11,011 shares of the company’s stock valued at $22,179,000 after acquiring an additional 1,083 shares during the last quarter. Deepwater Asset Management LLC lifted its stake in shares of MercadoLibre by 38.6% in the 4th quarter. Deepwater Asset Management LLC now owns 7,765 shares of the company’s stock valued at $15,641,000 after acquiring an additional 2,164 shares during the last quarter. Finally, Deutsche Bank AG bought a new position in shares of MercadoLibre in the 2nd quarter valued at $279,445,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Stock Performance

NASDAQ MELI opened at $1,978.36 on Monday. The stock has a market capitalization of $100.30 billion, a P/E ratio of 53.80, a P/E/G ratio of 1.36 and a beta of 1.31. The business has a 50 day simple moving average of $1,859.43 and a 200 day simple moving average of $1,769.45. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10. MercadoLibre, Inc. has a one year low of $1,495.00 and a one 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 the consensus estimate of $8.65 by $0.54. The company had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The company’s quarterly revenue was up 49.8% on a year-over-year basis. During the same quarter last year, the firm posted $10.31 EPS. Research analysts expect that MercadoLibre, Inc. will post 39.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on MELI shares. UBS Group lowered their target price on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. BTIG Research reaffirmed a “buy” rating and issued a $2,150.00 price objective on shares of MercadoLibre in a research note on Thursday. Citigroup raised their price objective on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Morgan Stanley cut their target price 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. Finally, The Goldman Sachs Group set a $2,100.00 target price on shares of MercadoLibre in a report on Wednesday, May 13th. Eleven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and a consensus 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.