Triasima Portfolio Management inc. Acquires 275 Shares of MercadoLibre, Inc. $MELI

Triasima Portfolio Management inc. lifted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 9.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 3,200 shares of the company’s stock after purchasing an additional 275 shares during the quarter. MercadoLibre comprises approximately 1.5% of Triasima Portfolio Management inc.’s holdings, making the stock its 19th biggest position. Triasima Portfolio Management inc.’s holdings in MercadoLibre were worth $8,364,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Venturi Wealth Management LLC boosted its stake in shares of MercadoLibre by 4.0% during the 2nd quarter. Venturi Wealth Management LLC now owns 1,615 shares of the company’s stock worth $4,221,000 after acquiring an additional 62 shares during the period. Canopy Partners LLC bought a new position in shares of MercadoLibre during the 2nd quarter worth approximately $382,000. Independent Solutions Wealth Management LLC boosted its stake in shares of MercadoLibre by 2.7% during the 2nd quarter. Independent Solutions Wealth Management LLC now owns 871 shares of the company’s stock worth $2,276,000 after acquiring an additional 23 shares during the period. Shell Asset Management Co. boosted its stake in shares of MercadoLibre by 23.5% during the 2nd quarter. Shell Asset Management Co. now owns 2,620 shares of the company’s stock worth $6,848,000 after acquiring an additional 498 shares during the period. Finally, Prasad Wealth Partners LLC bought a new position in shares of MercadoLibre during the 2nd quarter worth approximately $902,000. 87.62% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MELI. Weiss Ratings reissued a “buy (b)” rating on shares of MercadoLibre in a report on Saturday, September 27th. Benchmark reissued a “buy” rating and set a $2,875.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Daiwa Capital Markets began coverage on MercadoLibre in a report on Friday, August 1st. They set a “buy” rating and a $3,000.00 price target for the company. Jefferies Financial Group reissued a “hold” rating and set a $2,800.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Finally, Citigroup dropped their price target on MercadoLibre from $2,900.00 to $2,850.00 and set a “buy” rating for the company in a report on Monday, August 18th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $2,822.78.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $2,187.57 on Wednesday. The stock has a market capitalization of $110.91 billion, a PE ratio of 54.03, a P/E/G ratio of 1.43 and a beta of 1.46. 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 business has a fifty day moving average price of $2,374.35 and a two-hundred day moving average price of $2,344.79. MercadoLibre, Inc. has a fifty-two week low of $1,646.00 and a fifty-two week high of $2,645.22.

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

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.