Maxi Investments CY Ltd Buys 2,106 Shares of MercadoLibre, Inc. $MELI

Maxi Investments CY Ltd lifted its position in MercadoLibre, Inc. (NASDAQ:MELI) by 246.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,960 shares of the company’s stock after purchasing an additional 2,106 shares during the period. MercadoLibre accounts for about 1.0% of Maxi Investments CY Ltd’s investment portfolio, making the stock its 28th biggest position. Maxi Investments CY Ltd’s holdings in MercadoLibre were worth $5,024,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Laurel Wealth Advisors LLC bought a new stake in MercadoLibre during the 4th quarter valued at $26,000. Transamerica Financial Advisors LLC purchased a new position in shares of MercadoLibre during the fourth quarter valued at $26,000. Purpose Unlimited Inc. purchased a new position in shares of MercadoLibre during the fourth quarter valued at $28,000. Darwin Wealth Management LLC bought a new stake in shares of MercadoLibre in the second quarter valued at about $29,000. Finally, Curio Wealth LLC bought a new stake in shares of MercadoLibre in the fourth quarter valued at about $30,000. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of MELI opened at $1,922.73 on Monday. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. The firm has a market cap of $97.48 billion, a PE ratio of 52.29, a P/E/G ratio of 1.32 and a beta of 1.34. MercadoLibre, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,548.50. The stock has a fifty day moving average price of $1,793.05 and a 200-day moving average price of $1,773.33.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share for the quarter, topping the consensus estimate of $8.65 by $0.54. The firm had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.79 billion. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The firm’s revenue for the quarter was up 49.8% on a year-over-year basis. During the same period in the previous year, the business earned $10.31 EPS. Equities research analysts predict that MercadoLibre, Inc. will post 39.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on MELI shares. Daiwa Securities Group cut shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 target price on the stock. in a report on Friday, May 8th. BTIG Research restated a “buy” rating and issued a $2,150.00 price target on shares of MercadoLibre in a report on Thursday, August 6th. Citigroup upped their price target on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. UBS Group dropped their price objective on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. Finally, Raymond James Financial set a $2,000.00 price objective on shares of MercadoLibre in a report on Friday, May 8th. Eleven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,272.00.

MercadoLibre Profile

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.