Interchange Capital Partners LLC Acquires 24 Shares of MercadoLibre, Inc. $MELI

Interchange Capital Partners LLC boosted its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 12.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 224 shares of the company’s stock after purchasing an additional 24 shares during the quarter. Interchange Capital Partners LLC’s holdings in MercadoLibre were worth $586,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in MELI. Invesco Ltd. increased its holdings in MercadoLibre by 22.4% in the first quarter. Invesco Ltd. now owns 570,967 shares of the company’s stock worth $1,113,881,000 after purchasing an additional 104,554 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in MercadoLibre by 21.2% in the first 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 purchasing an additional 96,283 shares in the last quarter. GQG Partners LLC increased its holdings in MercadoLibre by 23.5% in the first quarter. GQG Partners LLC now owns 461,875 shares of the company’s stock worth $901,058,000 after purchasing an additional 87,912 shares in the last quarter. Nuveen LLC bought a new stake in MercadoLibre in the first quarter worth approximately $143,367,000. Finally, Goldman Sachs Group Inc. increased its holdings in MercadoLibre by 18.7% in the first quarter. Goldman Sachs Group Inc. now owns 450,444 shares of the company’s stock worth $878,757,000 after purchasing an additional 70,834 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Stock Up 0.6%

Shares of NASDAQ:MELI opened at $2,161.11 on Friday. The stock has a market cap of $109.57 billion, a price-to-earnings ratio of 53.37, a PEG ratio of 1.47 and a beta of 1.46. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. MercadoLibre, Inc. has a 12-month low of $1,646.00 and a 12-month high of $2,645.22. The business’s 50 day moving average is $2,315.64 and its 200 day moving average is $2,359.44.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $12.01 by ($1.70). The company had revenue of $6.79 billion for the quarter, compared to analysts’ expectations of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The firm’s quarterly revenue was up 33.8% on a year-over-year basis. During the same period in the previous year, the firm earned $10.48 EPS. On average, sell-side analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. lowered their target price on MercadoLibre from $2,700.00 to $2,600.00 and set a “neutral” rating for the company in a report on Friday, October 3rd. Raymond James Financial restated a “strong-buy” rating and set a $2,750.00 price objective on shares of MercadoLibre in a report on Tuesday, August 5th. Scotiabank initiated coverage on MercadoLibre in a report on Monday, July 28th. They set a “sector outperform” rating and a $3,500.00 price objective for the company. Weiss Ratings restated a “buy (b)” rating on shares of MercadoLibre in a report on Wednesday, October 8th. Finally, Barclays decreased their price objective on MercadoLibre from $3,000.00 to $2,800.00 and set an “overweight” rating for the company in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,799.12.

MercadoLibre Company 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.