Vontobel Holding Ltd. Grows Stock Holdings in MercadoLibre, Inc. $MELI

Vontobel Holding Ltd. lifted its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 19.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 81,908 shares of the company’s stock after buying an additional 13,518 shares during the period. Vontobel Holding Ltd.’s holdings in MercadoLibre were worth $214,077,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in MELI. Key Financial Inc purchased a new stake in MercadoLibre in the 1st quarter valued at about $25,000. GW&K Investment Management LLC bought a new position in shares of MercadoLibre during the 1st quarter worth approximately $25,000. Close Asset Management Ltd raised its stake in shares of MercadoLibre by 366.7% during the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock worth $27,000 after acquiring an additional 11 shares in the last quarter. Highline Wealth Partners LLC raised its stake in shares of MercadoLibre by 366.7% during the 2nd quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock worth $37,000 after acquiring an additional 11 shares in the last quarter. Finally, Brooklyn Investment Group raised its stake in shares of MercadoLibre by 650.0% during the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock worth $29,000 after acquiring an additional 13 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Stock Performance

Shares of NASDAQ MELI opened at $2,179.89 on Thursday. The company’s fifty day moving average price is $2,370.32 and its 200 day moving average price is $2,343.65. MercadoLibre, Inc. has a 1 year low of $1,646.00 and a 1 year high of $2,645.22. The company has a market capitalization of $110.51 billion, a PE ratio of 53.84, a price-to-earnings-growth ratio of 1.46 and a beta of 1.46. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Monday, August 4th. The company reported $10.31 earnings per share (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 firm had revenue of $6.79 billion for the quarter, compared to analysts’ expectations of $6.57 billion. During the same period last year, the company posted $10.48 earnings per share. The business’s quarterly revenue was up 33.8% on a year-over-year basis. On average, research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analysts Set New Price Targets

MELI has been the subject of several recent analyst reports. Benchmark reiterated a “buy” rating and set a $2,875.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. Barclays reduced their price objective on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an “overweight” rating for the company in a research note on Wednesday, July 23rd. Susquehanna restated a “positive” rating and set a $2,975.00 price target (up previously from $2,840.00) on shares of MercadoLibre in a research note on Thursday, June 26th. Citigroup cut their price target on shares of MercadoLibre from $2,900.00 to $2,850.00 and set a “buy” rating on the stock in a research note on Monday, August 18th. Finally, JPMorgan Chase & Co. cut their price target on shares of MercadoLibre from $2,700.00 to $2,600.00 and set a “neutral” rating on the stock in a research note on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $2,822.78.

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.