Leavell Investment Management Inc. Purchases 28 Shares of MercadoLibre, Inc. $MELI

Leavell Investment Management Inc. lifted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 24.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 143 shares of the company’s stock after purchasing an additional 28 shares during the quarter. Leavell Investment Management Inc.’s holdings in MercadoLibre were worth $374,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MELI. Jennison Associates LLC boosted its position in shares of MercadoLibre by 1.6% during the 1st quarter. Jennison Associates LLC now owns 1,154,116 shares of the company’s stock valued at $2,251,531,000 after acquiring an additional 18,731 shares during the last quarter. Invesco Ltd. boosted its holdings in MercadoLibre by 22.4% during the 1st quarter. Invesco Ltd. now owns 570,967 shares of the company’s stock valued at $1,113,881,000 after acquiring an additional 104,554 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in MercadoLibre by 21.2% in the 1st 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 buying an additional 96,283 shares during the period. Generation Investment Management LLP lifted its holdings in MercadoLibre by 3.3% in the 1st quarter. Generation Investment Management LLP now owns 530,564 shares of the company’s stock worth $1,035,061,000 after buying an additional 16,878 shares during the period. Finally, GQG Partners LLC raised its position in shares of MercadoLibre by 23.5% in the 1st quarter. GQG Partners LLC now owns 461,875 shares of the company’s stock worth $901,058,000 after acquiring an additional 87,912 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on MELI. Citigroup reduced their price objective on MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating for the company in a research report on Thursday, October 9th. Raymond James Financial restated a “strong-buy” rating and issued a $2,750.00 price target on shares of MercadoLibre in a research note on Tuesday, August 5th. Cantor Fitzgerald lifted their price objective on MercadoLibre from $2,700.00 to $2,900.00 and gave the stock an “overweight” rating in a report on Wednesday, September 24th. JPMorgan Chase & Co. lowered their target price on MercadoLibre from $2,700.00 to $2,600.00 and set a “neutral” rating on the stock in a research report on Friday, October 3rd. Finally, Wedbush set a $2,700.00 price objective on MercadoLibre and gave the stock an “outperform” rating in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and an average target price of $2,799.12.

MercadoLibre Trading Up 5.6%

Shares of NASDAQ:MELI opened at $2,282.32 on Tuesday. MercadoLibre, Inc. has a 12-month low of $1,646.00 and a 12-month high of $2,645.22. The business’s fifty day simple moving average is $2,314.00 and its 200-day simple moving average is $2,364.20. The company has a market capitalization of $115.71 billion, a PE ratio of 56.37, a P/E/G ratio of 1.47 and a beta of 1.46. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Monday, August 4th. The company reported $10.31 earnings per share for the quarter, missing analysts’ consensus estimates of $12.01 by ($1.70). The business had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The firm’s revenue for the quarter was up 33.8% compared to the same quarter last year. During the same period in the previous year, the business earned $10.48 EPS. As a group, equities research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

About MercadoLibre

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.