LPL Financial LLC Has $32.72 Million Position in MercadoLibre, Inc. (NASDAQ:MELI)

LPL Financial LLC boosted its position in MercadoLibre, Inc. (NASDAQ:MELI) by 3.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,003 shares of the company’s stock after purchasing an additional 652 shares during the period. LPL Financial LLC’s holdings in MercadoLibre were worth $32,718,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Lone Pine Capital LLC increased its position in shares of MercadoLibre by 19.8% during the first quarter. Lone Pine Capital LLC now owns 715,152 shares of the company’s stock valued at $1,052,804,000 after acquiring an additional 118,041 shares during the last quarter. Morgan Stanley increased its position in shares of MercadoLibre by 16.8% during the first quarter. Morgan Stanley now owns 656,040 shares of the company’s stock valued at $965,783,000 after acquiring an additional 94,431 shares during the last quarter. Schroder Investment Management Group increased its position in shares of MercadoLibre by 0.9% during the first quarter. Schroder Investment Management Group now owns 463,361 shares of the company’s stock valued at $682,132,000 after acquiring an additional 3,938 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of MercadoLibre by 30.1% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 426,177 shares of the company’s stock valued at $663,894,000 after acquiring an additional 98,559 shares during the last quarter. Finally, Artisan Partners Limited Partnership increased its position in shares of MercadoLibre by 7.0% during the second quarter. Artisan Partners Limited Partnership now owns 421,320 shares of the company’s stock valued at $656,328,000 after acquiring an additional 27,472 shares during the last quarter. 78.21% of the stock is owned by institutional investors.

A number of analysts have issued reports on MELI shares. DZ Bank started coverage on MercadoLibre in a research report on Friday, July 9th. They issued a “buy” rating and a $1,900.00 target price for the company. Zacks Investment Research downgraded MercadoLibre from a “strong-buy” rating to a “hold” rating and set a $1,672.00 target price for the company. in a research report on Wednesday, October 6th. Barclays raised their target price on MercadoLibre from $2,000.00 to $2,100.00 and gave the stock an “overweight” rating in a research report on Thursday, August 5th. Credit Suisse Group reissued a “buy” rating and issued a $2,100.00 target price on shares of MercadoLibre in a research report on Friday, October 1st. Finally, BTIG Research raised their target price on MercadoLibre from $1,720.00 to $1,930.00 and gave the stock a “buy” rating in a research report on Thursday, August 5th. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $1,911.22.

Shares of MELI stock opened at $1,518.43 on Thursday. The company has a quick ratio of 1.14, a current ratio of 1.18 and a debt-to-equity ratio of 22.07. The business has a 50-day moving average price of $1,785.82 and a two-hundred day moving average price of $1,593.73. MercadoLibre, Inc. has a 12-month low of $1,192.14 and a 12-month high of $2,020.00. The firm has a market cap of $75.48 billion, a P/E ratio of -30,368.60 and a beta of 1.51.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Wednesday, August 4th. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $1.28. MercadoLibre had a positive return on equity of 5.55% and a negative net margin of 0.02%. The business had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the prior year, the firm posted $1.11 EPS. The firm’s quarterly revenue was up 93.9% on a year-over-year basis. As a group, research analysts expect that MercadoLibre, Inc. will post 3.09 EPS for the current fiscal year.

In other MercadoLibre news, Director Henrique Vasoncelos Dubugras acquired 845 shares of the company’s stock in a transaction that occurred on Wednesday, August 18th. The stock was bought at an average price of $1,783.32 per share, with a total value of $1,506,905.40. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.39% of the stock is currently owned by corporate insiders.

MercadoLibre Profile

MercadoLibre, Inc engages in the provision of online commerce platform with focus on e-commerce and its related services. It operates through the following geographical segments: Brazil, Argentina, Mexico, Venezuela, and Other Countries. The firm provides users a mechanism for buying, selling and paying as well as collecting, generating leads, and comparing lists through e-commerce transactions.

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Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)

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