MIG Capital LLC Invests $737,000 in MercadoLibre, Inc. $MELI

MIG Capital LLC acquired a new position in MercadoLibre, Inc. (NASDAQ:MELI) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 378 shares of the company’s stock, valued at approximately $737,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Matthew 25 Management Corp grew its holdings in shares of MercadoLibre by 6.9% in the first quarter. Matthew 25 Management Corp now owns 14,000 shares of the company’s stock valued at $27,312,000 after acquiring an additional 900 shares in the last quarter. Quantbot Technologies LP grew its holdings in shares of MercadoLibre by 499.7% in the first quarter. Quantbot Technologies LP now owns 3,448 shares of the company’s stock valued at $6,727,000 after acquiring an additional 2,873 shares in the last quarter. Absolute Gestao de Investimentos Ltda. grew its holdings in shares of MercadoLibre by 150.0% in the first quarter. Absolute Gestao de Investimentos Ltda. now owns 380 shares of the company’s stock valued at $741,000 after acquiring an additional 228 shares in the last quarter. Cornerstone Select Advisors LLC grew its holdings in shares of MercadoLibre by 7.4% in the first quarter. Cornerstone Select Advisors LLC now owns 145 shares of the company’s stock valued at $283,000 after acquiring an additional 10 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of MercadoLibre by 18.2% in the first quarter. Northern Trust Corp now owns 169,082 shares of the company’s stock valued at $329,857,000 after acquiring an additional 26,057 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Price Performance

MercadoLibre stock opened at $2,364.01 on Tuesday. MercadoLibre, Inc. has a one year low of $1,646.00 and a one year high of $2,645.22. The business has a fifty day moving average price of $2,412.88 and a 200-day moving average price of $2,266.66. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. The firm has a market capitalization of $119.86 billion, a P/E ratio of 58.39, a PEG ratio of 1.52 and a beta of 1.46.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MELI shares. Jefferies Financial Group reaffirmed a “hold” rating and issued a $2,800.00 target price on shares of MercadoLibre in a report on Tuesday, August 5th. Wedbush set a $2,700.00 target price on MercadoLibre and gave the company an “outperform” rating in a report on Tuesday, August 5th. Citigroup reduced their target price on MercadoLibre from $2,900.00 to $2,850.00 and set a “buy” rating for the company in a report on Monday. Daiwa Capital Markets initiated coverage on MercadoLibre in a report on Friday, August 1st. They set a “buy” rating and a $3,000.00 price objective for the company. Finally, Morgan Stanley reissued an “overweight” rating on shares of MercadoLibre in a report on Thursday, May 1st. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $2,817.22.

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.